Economic and legal considerations of optimal privatization

case studies of mortgage firms (DePfa Group and Fannie Mae)
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by
International Monetary Fund, Monetary and Exchange Affairs , [Washington, D.C.]
DePfa Group., Fannie Mae., Privatization -- Germany., Privatization -- United States., Finance -- Law and legisla
Statementprepared by Hans-Joachim Beyer, Claudia Dziobek, and John R. Garrett.
SeriesIMF working paper -- WP/99/69
ContributionsDziobek, Claudia Helene, 1956-, Garrett, John R., International Monetary Fund. Monetary and Exchange Affairs Dept.
The Physical Object
Pagination27 p. :
ID Numbers
Open LibraryOL19160752M

Successful privatization must be accompanied by the complete removal of privileges and any public policy mission. Bank behavior changes rapidly as profit maximation replaces the bureaucratic objective function.

Once privileges are granted, they are difficult to remove. Therefore, privatization is a one-time (nonreversible) operation. The German mortgage bank, DePfa, went Cited by: 3. Economic and Legal Considerations of Optimal Privatization: Case Studies of Mortgage Firms (DePfa Group and Fannie Mae) - WP/99/69 Created Date 6/15/ PMCited by: 3.

Beyer, Hans-Joachim and Dziobek, Claudia Helene and Garrett, John, Economic and Legal Considerations of Optimal Privatization: Case Studies of Mortgage Firms (Depfa Group and Fannie Mae) (May ). IMF Working Paper, Vol., pp. The book will also represent a key and unique source for information related to the details of asset sales privatization, a summary of statistics of privatized companies from 54 international stock exchanges, regulatory changes and sources for privatization information for investors, government officials, bankers and financial by:   The book might just as well have been titled Prerequisites for Privatization, rather than The Process of Privatization, for that is the emphasis of the readings on property rights.

Only the chapters on New Zealand, the Czech Republic, and Mexico, and one on the specialized topic of spontaneous privatization in post-communist countries, can. Impact of Privatization on Economic Growth Adnan Filipovic, economic models throughout the book is an analysis of the incentives created by those models (Easterly, ).

This paper examines the relationship between growth and privatization from will be a Pareto optimal solution. From the perspective of privatization, the Coase Theorem. The book he edited for Random House, The Main Debate: Communism versus Capitalism, will appear in This essay is based on a talk delivered Februbefore a Symposium on Privatization organized by the International Chamber of Commerce and the.

Based on efficiency considerations, D’Souza and Megginson () argued that, not only the customers of privatized enterprises enjoy benefits from privatization, but also, as the enterprises become more efficient, the whole economy will benefit.

The economic prosperity gives government a means to Economic and legal considerations of optimal privatization book social welfare which furthers its. government, while the company continues to deliver a sub-optimal service. Macroeconomic considerations The major macroeconomic consideration, and which is important in the context of overall economic reform, is the direct effect of privatization on public finances.

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The immediate effect of an asset sale by the government is. Commercial, Financial, and Economic Preparation 55 Project Financing 56 Tariff Design 58 Tariff Adjustments 60 Subsidy Design 63 Labor Considerations 65 Including Local Partners 66 Stakeholder Involvement 67 7 Implementing PPPs Discover librarian-selected research resources on Privatization from the Questia online library, including full-text online books, academic journals, magazines, newspapers and more.

Home» Browse» Economics and Business» Economics» Economic Theory» Privatization» Privatization. Privatization, transfer of government services or assets to the private sector.

State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned enterprises may be lifted.

Services formerly provided by government may be contracted out. Journal of Economics and Economic Education Research, Volume 3, Number 2, PRIVATIZATION IN HEALTH CARE: THEORETICAL CONSIDERATIONS AND REAL OUTCOMES Fevzi Akinci, King's College ABSTRACT Over the last two decades privatization of health care services has received a great deal of attention in virtually all industrialized nations.

and legal liability, Becker's () article on crime and law enforcement, Calabresi's articles and culminating book () on accident law, and R.A. Posner's () general textbook on economic analysis of law and his establishment of the Journal of Legal Studies.

On optimal privatization methods see Maskin Also, an outright undervaluation tightens the budget constraint. The most extreme impact on the net-wealth position of the government takes place in the case of voucher privatization.

Legal considerations and approvals Background The needs for, or discretionary decisions to invoke, legislative authorisation of privatisation vary greatly according to specific cases and national contexts. Obviously in the case of statutory corporation and other SOEs that have been established by specific law.

The purpose of this book is to develop a general economic model which integrates the quantity and quality issues of water resource management and to provide, along with a detailed criticism of the policy instruments now in use, alternative proposals concerning the efficient allocation and.

privatization programmes.

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The conclusions reached in the above considerations, when coupled with the factors addressed in the following section, provide the essential framework for devising the most effective project-specific approach to commercialization or private sector participation.

Privatization theory has come under pressure from the emergence of new theories such as New Institutional Economics theory, which question the predictive power of privatization models and attempts to demonstrate that the optimal allocation of functions cannot.

Book Structure 12 2. The Political Economy of Global Education Reform 15 Global–Local Divide 16 Material–Ideational Divide 20 The Scope and Dynamics of Policy Change 26 Conclusion 31 PART II: PATHS TOWARD PRIVATIZATION 3.

Education Privatization as a State Reform: The Ideological Road to Privatization in Chile and the United Kingdom Privatization has been advocated as means of improving the incentive structure of SOEs and stimulating superior economic performance (Vickers and YarrowPeltzman et al.

Bortolotti and. He has made a lengthy, detailed, and positive case that the privatization of roads would be socially optimal in every way. It would save lives, curtail pollution, save us (as individuals!) money, save us massive time, introduce accountability, and make transportation a.

Privatization has been a key element of structural reform in many developing and transition economies during the last decade. This paper examines the fiscal and macroeconomic issues involved in the privatization of nonfinancial public enterprises in these economies.

It considers issues such as the factors determining the proceeds from privatization and the amount accruing to the budget, the. We use cookies to offer you a better experience, personalize content, tailor advertising, provide social media features, and better understand the use of our services.

economic conditions in the industry, for example, economies of scale or control of a critical resource, that limit effective competition patent a government rule that gives the inventor the exclusive legal right to make, use, or sell the invention for a limited time.

The role of privatization in improving economic performance On the 27 th of JulyAl Ahram newspaper carried the most famous headline in the history of the Egyptian policy, which was the announcement made by President Gamal Abdel Nasser, " the nationalization of.

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We revisit the relationship between the optimal privatization policy and market competition indexes such as the Hirschman--Herfindahl index, which is affected by the number of firms and asymmetry of size among these firms: the larger the number of firms (the less asymmetry among firms), the lower the market concentration index.

This book provides the first systematic empirical analysis of privatization processes worldwide to explain how and why governments privatize. Privatization is shown to be a difficult process, shaped by political preferences and budgetary constraints, often pursued in the absence of suitable economics and legal institutions.

As a result, in most cases, the process has been partial and. interactions between economic and political decisions that illustrates this failure dramatically.

We thus show that the argument that mass privatization always leads to a demand for a wealth-maximizing legal regime is not correct.5 In Sections 3 and 4, we consider the assumptions of our model in more detail and. The privatization neutrality theorem states that the share of public ownership in a firm does not affect welfare under an optimal uniform tax‐subsidy policy.

We revisit this neutrality result. First, we investigate the case in which the private firm is domestic. Privatization is the only hope for renewal of once proud cities, writes John Chapman.

In his book entitled Bureaucracy, Mises distinguished between "bureaucratic management" and "profit management." He explained that neither incentives nor exploitation of useful information are optimal under bureaucratic management, and by definition there could be no rational calculation.Microeconomic considerations.

Privatization does not focus just on the sale of a public entity. It also means looking at how the enterprise will be sold, how it will operate under private ownership, and which economic principles will govern both its sale and later operation.The most difficult economic questions about copyright law have to do with the scope of legal protection.

We shall discuss these under the headings of (1) idea versus expression, (2) derivative works, and (3) fair use. 1. Idea versus Expression. i) The economic rationale for not protecting ideas. A copyright protects expression but not ideas.