Nationalization, De-Nationalization, Re-Nationalization: Some Historical and Comparative Perspective
In: Pace Law Review, Band 30, S. 124
In: Pace Law Review, Band 30, S. 124
SSRN
We develop a theoretical model in which ?rms are either private or state-owned. When ?rms become insolvent, the government can intervene with general measures, like subsidies, or by nationalizing ?rms. The government only intervenes when the bankruptcy of a ?rm entails social costs. In a stylized model, we analyze how government interventions a?ect allocative and productive efficiency. Nationalization of private ?rms in case unpro?table investments were made, leads to increased allocative efficiency despite private ownership. The effort level chosen by the managers working for ?rms is also affected by government intervention with an impact on productive efficiency.
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In: International legal materials: ILM, Band 7, Heft 6, S. 1211-1212
ISSN: 1930-6571
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ISSN: 0032-5031
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In: Far Eastern survey, Band 14, S. 201-204
ISSN: 0362-8949
In: Far Eastern survey, Band 14, Heft 15, S. 201-204
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ISSN: 1944-785X
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ISSN: 1552-3349
In: Voprosy ėkonomiki: ežemesjačnyj žurnal, Heft 4, S. 133-145
The article is aimed at ordering, in the first approximation, the subject field of the study, namely, structural alternatives for the reaction of Russian public authorities to the decision of foreign companies to withdraw their business from Russia. Approaches of the new institutional economics are used (especially in terms of comparative analysis of discrete structural alternatives), as well as elements of regulatory impact assessment to explain, first of all, the consequences of forced privatization and the introduction of external administration. The conclusion is made about the limited possibilities of Russian manufacturers in a number of industries to replace the products of foreign companies leaving the market, which is associated with insufficient implementation of the import substitution strategy. The necessity of a differentiated approach to the choice of a regulatory response is explained, including various models of market participants behavior.