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Article Dans Une Revue Journal of Public Economic Theory Année : 2005

Optimal privatization design and financial markets

Résumé

This paper provides a simple general equilibrium analysis of privatization, exploring its real effects. They derive from the expansion of risk-sharing opportunities (within an incomplete markets setting) that are created by the addition of a market in the public project property rights. The principal conclusion is that an optimal combination of voucher and share issue privatization can implement the first-best. © 2005 Blackwell Publishing, Inc.

Dates et versions

hal-02877996 , version 1 (22-06-2020)

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Stefano Bosi, Guillaume Girmens, Michel Guillard. Optimal privatization design and financial markets. Journal of Public Economic Theory, 2005, 7 (5), pp.799--826. ⟨10.1111/j.1467-9779.2005.00246.x⟩. ⟨hal-02877996⟩

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