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| Perotti, Enrico; Bortolotti, Bernardo. |
| This paper reviews the state of thinking on the governance role of public ownership and control. We argue that the transfer of operational control over productive assets to the private sector represents the most desirable governance, due to the inherent difficulty for citizens to constrain political abuse relative to the ability of governments to regulate private activity. However in weak institutional environments the process needs to be structured so as to avoid capture of the regulatory process. The speed of transfer should be timed on the progress in developing a strong regulatory governance system, to which certain residual rights of intervention must be vested. After all, what are institutions if not governance mechanisms with some degree of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Political Economy. |
| Ano: 2005 |
URL: http://purl.umn.edu/12198 |
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