Welfare privatisation is generally analysed as welfare state retrenchment or liberalisation: reducing the role of public provision is understood as reducing the role of the state in allocating ...welfare benefits. This thesis starts from the puzzling observation that pension privatisation seems to go hand in hand with more active state interference in the allocation of private pensions. In order to explain the political dynamics that drive state intervention in the organisation of private welfare, this project moves away from established explanations based on electoral politics and social partner mobilisation. Instead it focuses on the interaction between states as independent actors with a stake in stabilising the welfare system, and financial welfare providers with a commercial interest in public support for private welfare. The first paper examines why Germany and the UK - despite having very different institutional backgrounds - exhibit a surprisingly similar shift away from their voluntarist approach to organising private welfare since the 1990s. This supports the central argument of this thesis. The second paper focuses on explaining one important aspect of recreating social protection within private welfare provision: the ability to organise collective risk-sharing to protect against financial volatility. Whereas prevailing explanations focus on social partner voluntarism, this paper compares Denmark and the Netherlands to argue that analytical attention should shift to how regulatory frameworks are required for overcoming distributional struggles. The third paper explains regulatory interventions that go against financial interests in order to achieve social objectives. Examining efforts in the UK to reduce pension charges, it shows that variation in regulatory decisions does not necessarily reflect differences in pressure by voters or organised interest groups. Instead policy-makers make their own assessment of whether regulatory intervention promotes the expansion of private welfare provision - balancing social stability with commercial viability.
Discusses the policies, practices and outcomes of privatization in six transition economies: the Czech Republic, Hungary, Poland, Russia, Slovenia and Ukraine, paying particular attention to ...cross-country differences and to interrelations between the processes of privatisation and the political transition from communism to a new system. The analysis is restricted to the privatisation in those fields where its methods have been strongly different from privatisations in advanced market economies and where differences of privatisation principles and techniques among our six countries were also rather various. This is basically the privatisation of middle-sized and large enterprises, not including banks, non-bank financial companies, natural monopolies and agricultural entities.
Introduction Cohen, Elizabeth F
European journal of political theory,
07/2022, Letnik:
21, Številka:
3
Journal Article
Recenzirano
Ayelet Shachar's lead essay in The Shifting Border draws out dramatic transformations of bordering practices currently taking place worldwide. These have yielded spatial relocations for bordering, a ...privatization of enforcement, and legal innovations that tie the border to individual people as they move, among many other changes. Shachar argues in favor of a form of reciprocity, in which states that shape shift their borders are also compelled to recognize rights for people who require humanitarian assistance. In response, Shachar's interlocutors offer an array of reflections and friendly amendments.
Successful privatization of state property depends on the investment attractiveness of the objects being sold, as well as the general investment climate of the country and the level of development of ...the financial infrastructure. In the Republic of Uzbekistan, with the adoption of the Decree of the President of Uzbekistan dated October 27, 2020. № UP- 6096 “On measures to accelerate the reform of enterprises with the participation of the state and the privatization of state assets”, a new stage of privatization of state property began. A significant place in the privatization program is given to the restructuring of state property, improving the efficiency of managing state assets and bringing shares of Uzbek issuers to the world capital markets (IPO). The article examines the degree of influence of an effective corporate governance system and the level of capitalization of the national securities market, contributing to an increase in investment attractiveness and the most effective practical manifestation of the generic advantages of a joint-stock company, ensuring the achievement of the main goal of corporatization - attracting direct investment.
This study investigates the impact of the timing of privatization and liberalization policies on the degree of privatization and number of entering firms in free-entry mixed markets. We formulate two ...models: ex-post privatization and ex-ante privatization. In the former, the government liberalizes the market and then privatizes the public firm, whereas the order of the policies is reversed in the latter. We find that ex-ante privatization yields a higher (lower) level of privatization and a larger (smaller) equilibrium number of entering private firms when foreign ownership in private firms is high (low). We also show that the optimal level of privatization is increasing (decreasing) in the share of foreign ownership in the ex-ante (ex-post) privatization case. Finally, we find that although both the ex-ante and the ex-post privatization cases yield the same consumer welfare, ex-ante privatization always yields higher social welfare than ex-post privatization.
Using a unique database of 381 newly privatized firms from 57 countries, we investigate the impact of shareholders' identity on corporate risk-taking behavior. We find strong and robust evidence that ...state (foreign) ownership is negatively (positively) related to corporate risk-taking. Moreover, we find that high risk-taking by foreign owners depends on the strength of country-level governance institutions. Our results suggest that relinquishment of government control, openness to foreign investment, and improvement of country-level governance institutions are key determining factors of corporate risk-taking in newly privatized firms.
"Ninety-nine percent of Filipinos are waiting for a telephone and the other one percent for a dial tone..." - Lee Kuan Yew, November 1992. A decade after the above quote, far reaching reforms in the ...telecommunications sector has dramatically changed the situation in both the Philippines and Malaysia. By looking at the institutions and actors that drove these changes, this book examines state capacity, market reform, and rent-seeking in the two countries. In doing so, the study challenges conventional depictions of the Malaysian and Philippine states. It contends that despite the weakness of the Philippine state, reform occurred through a coalition that out-manoeuvred vested interests. In Malaysia, although considered a strong state, patronage and rent-seeking played key roles in policy adoption and implementation. The study also demonstrates how the nature of groups supporting reform shapes policy implementation and its outcomes. Finally, while liberalisation removes monopoly rent, this book shows that it can also create other types of rents.
This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the ...new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
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