This paper investigates a unique policy designed to maintain employment during the privatization of East German firms … instrumental variable approach, confirms these findings. We estimate a 22% points higher annual employment growth rate, a 14 …% points higher annual productivity growth, and a 3.6% points higher probability of exit for firms with binding employment …

Infrastructure assets have undergone substantial privatization in recent decades. How do different types of owners … rather than operational changes. Overall, we find little evidence that privatization alone increases airport performance …; instead, infrastructure funds improve performance both in privatization and subsequent acquisitions from non-PE private firms …