FrançaisEnglish

Érudit | Dépôt de documents >
CIRPÉE - Centre interuniversitaire sur le risque, les politiques économiques et l'emploi >
Cahiers de recherche du CIRPÉE >

Please use this identifier to cite or link to this item:

https://depot.erudit.org//id/003555dd

Title: Privatization and Globalization: an Empirical Analysis
Authors: Boubakri, Narjess
Cosset, Jean-Claude
Debab, Nassima
Valéry, Pascale
Keywords: Privatization
Foreign direct investment
Foreign portfolio investment
Dynamic panel GMM
Panel causality tests
Issue Date: 2011-09
Series/Report no.: Cahiers du CIRPÉE;11-30
Abstract: This paper examines the link between globalization measured by foreign direct investment (FDI) and foreign portfolio investment (FPI) and privatization of state-owned enterprises in a multi-country sample that focuses on developing countries. We hypothesize that privatization has an effect on FDI/FPI as the process of fostering private sector participation was often accompanied by liberalization reforms, and by allocations of substantial shares in newly privatized firms to foreign investors. Similarly, we expect FDI/FPI to foster privatization efforts as new capital inflows, technology and managerial skills that accompany FDI/FPI make the environment more prone to competition, providing governments with incentives to privatize inefficient firms that need to be turned around. This relation is assessed in two ways, first in a dynamic panel using a generalized method of moments approach, and second through panel causality tests.
URI: https://depot.erudit.org/id/003555dd
Appears in Collections:Cahiers de recherche du CIRPÉE

Files in This Item:

CIRPEE11-30.pdf, (Adobe PDF ; 468.63 kB)

Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

 

About Érudit | Subscriptions | RSS | Terms of Use | Contact us |

Consortium Érudit ©  2016