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Italy’s Privatization Process and Its Implications for China

Author

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  • Bernardo Bortolotti

    (University of Turin and Fondazione Eni Enrico Mattei)

Abstract

This report provides an overview of the causes and consequences of the Italian State-owned Enterprises (SOE) reform process. Particularly, it analyzes the symbiotic link between share issue privatization (SIP), i.e. privatization in public equity markets, and financial market development, and shows how the sustained policy of sales has jumpstarted the Italian domestic stock market. Based on the Italian and international experience, the report provides some possible guidelines and policy recommendations in order to achieve the same goal in the People’s Republic of China (PRC).

Suggested Citation

  • Bernardo Bortolotti, 2005. "Italy’s Privatization Process and Its Implications for China," Working Papers 2005.118, Fondazione Eni Enrico Mattei.
    • Handle: RePEc:fem:femwpa:2005.118
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    Keywords

    State-owned enterprises; Share issue privatization; Financial development; Italy; China;
    All these keywords.

    JEL classification:

    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • L30 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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