Privatisation and market structure in a transition economy

• 成果类型: Article
• 署名作者: Bennett, J; Maw, J
• 署名单位: Brunel University; Swansea University
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(99)00117-6
• 发表日期: 2000
• 页码: 357-382
• 关键词: privatisation; transition economy; market structure

摘要

A model is developed in which an industry of N greater than or equal to 1 firms is privatised. The 'participation' method of privatisation is used, whereby firms are sold for cash, but the state retains a proportionate share of ownership. In each firm the new private owner has the opportunity to make a reorganisational investment, before output is produced. This investment is unobservable by the state, and therefore non-contractible, There is Cournot competition in the product market. The welfare-maximising retained ownership share for the state is analysed, taking into account that potential buyers of firms may have limited access to finance. (C) 2000 Elsevier Science S.A. All rights reserved.