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Investigation of privatization by level crossing approach

Author

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  • Vahabi, M.
  • Jafari, G.R.

Abstract

Privatization — a political as well as an economic policy — is generally defined as the transfer of a property or the responsibility for it from the public to the private sector. But privatization is not merely the transfer of the ownership and efficiency of the market should be considered. A successful privatization program induces better profitability and efficiency, higher output, more investment, etc. The main method of privatization is through introducing new stocks to the market to motivate competition. However, for a successful privatization the capability of a market for absorbing the new stock should also be considered. Without paying attention to this aspect, privatization through the introduction of new stocks may lead to reduced market efficiency. We study, based on the complexity theory and in particular the concept of Level Crossing, the effect of the stages of the development, activity, risk, and the waiting times for special events on the privatization.

Suggested Citation

  • Vahabi, M. & Jafari, G.R., 2009. "Investigation of privatization by level crossing approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 388(18), pages 3859-3865.
    • Handle: RePEc:eee:phsmap:v:388:y:2009:i:18:p:3859-3865
    DOI: 10.1016/j.physa.2009.06.015
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    References listed on IDEAS

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    1. Mantegna,Rosario N. & Stanley,H. Eugene, 2007. "Introduction to Econophysics," Cambridge Books, Cambridge University Press, number 9780521039871, October.
    2. Bortolotti, Bernardo & Siniscalco, Domenico, 2004. "The Challenges of Privatization: An International Analysis," OUP Catalogue, Oxford University Press, number 9780199249343.
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