English, Article, Journal or magazine article edition: Nationalizations and efficiency Ernesto Crivelli; Klaas Staal

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Bookmark: http://trove.nla.gov.au/version/212049
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Nationalizations and efficiency
Author
  • Ernesto Crivelli
  • Klaas Staal
Physical Description
  • preprint
Notes
  • We develop a theoretical model in which firms are either private or state-owned. When firms become insolvent, the government can intervene with general mea- sures, like subsidies, or by nationalizing firms. The government only intervenes when the bankruptcy of a firm entails social costs. In a stylized model, we an- alyze how government interventions affect allocative and productive efficiency. Nationalization of private firms in case unprofitable investments were made, leads to increased allocative efficiency despite private ownership. The effort level chosen by the managers working for firms is also affected by government intervention with an impact on productive efficiency.
  • RePEc:trf:wpaper:268
Language
  • English
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