Shadow cost of public funds and privatization policies
S Sato, T Matsumura - The North American Journal of Economics and …, 2019 - Elsevier
We investigate the impacts of government budget constraints on the optimal privatization
policy in mixed oligopolies by introducing the shadow cost of public funds. The government
is concerned with both the total social surplus and the revenue obtained by privatization. We
find that the relationship between the shadow cost of public funds and the optimal
privatization policy is non-monotone. When the cost is moderate, the higher the cost, the
lower the optimal degree of privatization. However, when the cost is high, a cost increase …
policy in mixed oligopolies by introducing the shadow cost of public funds. The government
is concerned with both the total social surplus and the revenue obtained by privatization. We
find that the relationship between the shadow cost of public funds and the optimal
privatization policy is non-monotone. When the cost is moderate, the higher the cost, the
lower the optimal degree of privatization. However, when the cost is high, a cost increase …
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