Privatization and Financial Market Development: Theoretical Issues

27 Pages Posted: 27 Feb 2003

See all articles by Gabriella Chiesa

Gabriella Chiesa

University of Bologna - Department of Economics

Giovanna Nicodano

University of Turin - Department ESOMAS; Collegio Carlo Alberto; CEPR; EGCI; Netspar

Date Written: January 2003

Abstract

Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is however possible that stock market development would have occurred anyway. Below we identify features that are specific to share-issue privatizations (SIPs) and should a priori impact on market liquidity and market size. A positive correlation between such features and market development in a cross section of countries would support the claim that certain types of SIPs contribute to stock market development.

Keywords: Privatization, Financial Market Development

JEL Classification: L33, G14

Suggested Citation

Chiesa, Gabriella and Nicodano, Giovanna, Privatization and Financial Market Development: Theoretical Issues (January 2003). FEEM Working Paper No. 1.2003, Available at SSRN: https://ssrn.com/abstract=383460 or http://dx.doi.org/10.2139/ssrn.383460

Gabriella Chiesa

University of Bologna - Department of Economics ( email )

Piazza Scaravilli 2
40126 Bologna, 40126
Italy
+39-051-2095511 (Phone)
+39-051-2095510 (Fax)

HOME PAGE: http://www.dse.unibo.it/gchiesa/home.htm

Giovanna Nicodano (Contact Author)

University of Turin - Department ESOMAS ( email )

Turin, 10134
Italy

HOME PAGE: http://https://www.carloalberto.org/person/giovanna-nicodano/

Collegio Carlo Alberto ( email )

Piazza Arbarello 8
Torino, Torino 10121
Italy
390116705006 (Phone)

HOME PAGE: http://https://www.carloalberto.org/person/giovanna-nicodano

CEPR ( email )

London
United Kingdom

EGCI ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

Netspar ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

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