search query: @author Bennett, J. / total: 18
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| Author: | Bennett, J. Maw, J. |
| Title: | Privatisation and market structure in a transition economy |
| Journal: | Journal of Public Economics
2000 : SEP, VOL. 77:3, p. 357-382 |
| Index terms: | Market structure Privatization Transition economies |
| Language: | eng |
| Abstract: | A model is developed in which an industry of N>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 therefor non-contractible. |
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