Privatization and Natural Advantage

53 Pages Posted: 9 Aug 2015 Last revised: 11 Aug 2015

See all articles by Jean-Claude Cosset

Jean-Claude Cosset

HEC Montreal

Art Durnev

University of Iowa - Henry B. Tippie College of Business

Igor Oliveira dos Santos

HEC Montreal

Date Written: July 15, 2015

Abstract

We investigate the role of natural advantage (substantial oil reserves or mineral deposits) in the shaping of privatization policies. We find that governments tend to retain high ownership in natural advantage based firms. In addition, our results suggest the existence of too-big-to-relinquish firms in the natural advantage based industries. Finally, we show that access to the sea plays an important role in the drafting of privatization policies in those industries.

Keywords: Privatization, natural advantage, rent-seeking, agglomeration economies

JEL Classification: D72, G32, L33

Suggested Citation

Cosset, Jean-Claude and Durnev, Artyom and Oliveira dos Santos, Igor, Privatization and Natural Advantage (July 15, 2015). Available at SSRN: https://ssrn.com/abstract=2641363 or http://dx.doi.org/10.2139/ssrn.2641363

Jean-Claude Cosset (Contact Author)

HEC Montreal ( email )

3000, Chemin de la Côte-Sainte-Catherine
Montreal, Quebec H3T 2A7
Canada
514-340-6872 (Phone)
514-340-6987 (Fax)

Artyom Durnev

University of Iowa - Henry B. Tippie College of Business ( email )

Acquisitions
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Iowa City, IA 52242-1000
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(514) 398-5394 (Phone)
(514) 398-3876 (Fax)

HOME PAGE: http://www.artdurnev.com

Igor Oliveira dos Santos

HEC Montreal ( email )

3000, Chemin de la Côte-Sainte-Catherine
Montreal, Quebec H2X 2L3
Canada

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