This paper studies the timing of privatization in 21 major developed economies in the 1977-2002 period. Duration analysis shows that political fragmentation plays a significant role in explaining government's decision to privatize: privatization is delayed longer in democracies characterized by...

List of contributors -- 1. Introduction / Bernardo Bortolotti and Gianluca Fiorentini -- Pt. I. Organized interests produce legislation. 2. Political institutions as screening devices / Gianluigi Galeotti ; 3. Electoral rules and interest groups: the mix of direct and indirect taxation /...