This paper examines the optimal privatization pace of an economy shifting from complete state ownership to complete private ownership. It will be shown that, under the assumption of incomplete information of private agents about government priorities, some governments may undertake during an initial stage a fast privatization policy, then adopt a slow pace during the second stage. The article shows how such apparently contradictory policies may make sense from the government's point of view.
BESANCENOT, D. and VRANCEANU, R. (1998). Un modèle de privatisation généralisée avec effet de réputation. Revue d'économie politique, pp. 75-86.