POLITICIANS AND FIRMS

• 成果类型: Article
• 署名作者: SHLEIFER, A; VISHNY, RW
• 署名单位: University of Chicago
• 刊物名称: QUARTERLY JOURNAL OF ECONOMICS
• ISSN/ISSBN: 0033-5533
• DOI: 10.2307/2118354
• 发表日期: 1994
• 页码: 995-1025
• 关键词: SOCIALISM; OWNERSHIP

摘要

We present a model of bargaining between politicians and managers that explains many stylized facts about the behavior of state firms, their commercialization, and privatization. Subsidies to public enterprises and bribes from managers to politicians emerge naturally in the model. We use the model and several extensions to understand why commercialization and privatization might work, and what forces contribute to effective restructuring of public enterprises. We illustrate the model using examples from several countries.