Bernardo Bortolotti

TL;DR: In this paper, the authors present new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period, and show that privatisation takes place typically in wealthy and democratic countries, endowed with deep and liquid stock markets, and is affected by the governing political majority and public sector budget constraints.

TL;DR: In this article, the change in government control of privatized firms in OECD countries was studied, and it was found that governments typically transfer ownership rights without relinquishing proportional control and control is commonly retained by leveraging state investments through pyramids, dual-class shares, and golden shares.

TL;DR: In this paper, the authors examined the financial and operating performance of 31 national telecommunication companies in 25 countries that were fully or partially privatized through public share offering and found that the financial performance of telecommunications companies improves significantly after privatization, but that a sizable fraction of the observed improvement results from regulatory changes, alone or in combination with major ownership changes.

TL;DR: In this paper, the change in government control of privatized firms in OECD (Organisation for Economic Co-operation and Development) countries was studied and the authors found no association between a country's legal tradition and the extent of government control.

TL;DR: In this article, the economic theory of privatisation and the determinants of privatization are discussed, and how do Governments Privatize? 5. Private Ownership, Public Control 6. Privatizing Monopolies Conclusions Appendix I: Data and Methodology Appendix 2: Importing Investor Protection Appendix 3: Golden Shares Around the World