Financial integration and financial development in transition economies: What happens during financial crises?

Arjana Brezigar-Masten, Fabrizio Coricelli and Igor Masten
Authors registered in the RePEc Author Service: Arjana Brezigar Masten ()

No 2009/49, RSCAS Working Papers from European University Institute

Abstract: Italy’s first Fascist government applied a large-scale privatization policy between 1922 and 1925. The government privatized the state monopoly of match sale, eliminated the State monopoly on life insurances, sold most of the State-owned telephone networks and services to private firms, reprivatized the largest metal machinery producer, and awarded concessions to private firms to build and operate motorways. While ideological considerations may have had a certain influence, privatization was used mainly as a political tool to build confidence among industrialists and to increase support for the government and the Partito Nazionale Fascista. Privatization also contributed to balancing the budget, which was the core objective of Fascist economic policy in its first phase.

Keywords: transition economies; financial integration; financial crises; economic growth; threshold effects (search for similar items in EconPapers)
Date: 2009-09-29
New Economics Papers: this item is included in nep-ene and nep-reg
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Financial integration and financial development in transition economies: what happens during financial crises? (2010)
Working Paper: Financial integration and financial development in transition economies: what happens during financial crises? (2010)
Working Paper: Financial integration and financial development in transition economies: what happens during financial crises? (2010)
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