Are there nationalization-privatization cycles? A theoretical survey and first empirical evidence

Uwe Siegmund

No 757, Kiel Working Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: This paper deals with fluctuations over time in the extent of the state-owned firm sector nationalization-privatization cycles (NPCs). Anecdotal observations of NPCs are supported threefold by systematic empirical evidence: first, for different regions and economic systems, second, for different time periods, and third, for different indicators. In explaining NPCs, the paper provides a history of research on the subject. At the end three hypotheses are distinguished: the ideological preference hypothesis, the political cycle hypothesis, and the efficiency hypothesis. The conclusion is that NPCs existed in the 20th century as a worldwide phenomenon and are worthy of being explained.

JEL-codes: B25 H11 P51 (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:757

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