Economic and Legal Considerations of Optimal Privatization : Case Studies of Mortgage Firms (DePfa Group and Fannie Mae) »
Series: IMF Working Papers
Author(s): John Garrett , Hans-Joachim Beyer , and Claudia Dziobek
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 1999
Keywords: Privatization, financial regulation, state banks, Fannie Mae, DePfa, mortgage, mortgage banks, private mortgage, mortgages
Successful privatization must be accompanied by the complete removal of privileges and any public policy mission. Bank behavior changes rapidly as profit maximation replaces the bureaucratic objective function. Onc...