2012

Privatization, Investment and Ownership Efficiency

Reprint No. 2012:39

Author(s): Pehr-Johan Norbäck and Lars PerssonYear: 2012 Title: Oxford Economic Papers Volume (No.): 64 (4) Pages: 765–786
Online article (restrictions may apply)
Preliminary version


We provide a model that explains the following empirical observations: (i) private ownership is more efficient than public ownership, (ii) privatizations are associated with increases in efficiency, and (iii) the increase in efficiency predates the privatization. The two key mechanisms explaining the results are: (i) a government owner keeping control can affect long-run employment levels when investing and (ii) a privatizing government has a stronger incentive to invest than an acquiring firm: the government exploits the fact that investments increase the sales price not only due to the increase in the acquirer’s profit, but also due to a reduced profit for the non-acquirer.


Reference:
Norbäck, Pehr-Johan and Lars Persson (2012), "Privatization, Investment and Ownership Efficiency". Oxford Economic Papers 64(4), 765–786.

Pehr-Johan Norbäck

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Lars Persson

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lars.persson@ifn.se

Integrating Immigrants into the Nordic Labour Markets

An Overall Perspective

Pages-from-2019-Calmfors-Gassen---Integrating-Immigrants-into-the-Nordic-Labour-Markets.gif

Denmark, Finland, Norway and Sweden face similar problems of integrating large groups of immigrants, especially low-educated ones from outside the EU, into their labour markets. In this volume, edited by Lars Calmfors, IFN, and Nora Sánchez Gassen in cooperation with researchers from across the Nordic Region analyse how labour market integration of immigrants can be promoted. 

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