scholarly journals Endogenous Timing of R&D Decisions and Privatization Policy with Research Spillovers

2021 ◽  
Author(s):  
Sang-Ho Lee ◽  
Timur K. Muminov
Keyword(s):  
Endogenous Timing ◽  
Privatization Policy

Endogenous Timing in a Mixed Duopoly: Price Competition

2007 ◽  
Vol 91 (3) ◽  
pp. 263-272 ◽  
Author(s):  
Juan Carlos Bárcena-Ruiz
Keyword(s):  
Price Competition ◽  
Mixed Duopoly ◽  
Endogenous Timing

PRIVATIZATION TRANSFERS AND CREDIT MARKET FRICTIONS

2002 ◽  
Vol 6 (3) ◽  
pp. 357-384
Author(s):  
Rodney M. Chun
Keyword(s):  
Credit Market ◽  
The Other ◽  
Equilibrium Analysis ◽  
Market Frictions ◽  
Private Capital ◽  
High Wage ◽  
Multiple Steady State ◽  
Market Friction ◽  
Credit Market Frictions ◽  
Privatization Policy

This paper examines an economy in which output is produced by state-owned enterprises and private firms. Private-capital formation requires intermediation that is subject to a credit market friction. In this environment, I look at the effects of a privatization policy that transfers state-owned capital to the private sector. Multiple steady-state equilibria are possible. When these arise, the low-wage equilibrium features a relatively inefficient financial system and privatization transfers help to increase the aggregate capital stock by reducing the severity of the credit market frictions. On the other hand, privatization transfers may have adverse effects when the economy is at the high-wage equilibrium. Analysis of the dynamic characteristics of the model reveals that development trap phenomenon and endogenous fluctuations can be observed.

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