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The OECD Advisory Group on Privatisation (AGP) met in Paris in September 1999 to discuss the subject of "Privatisation, Capital Market Development and Pension Systems Reform", bringing together high-level privatisation officials and policy makers from OECD non-member countries, experts from international organisations, privatisation officials and other representatives from 21 Member countries. The meeting explored the impact of privatisation on the changing landscape of global capital markets and the interrelation between pension systems reform and privatisation. Presentations covered the impact of privatisation on the development of equity markets, the patterns of change in corporate finance and their impact on the governance and organisation of enterprises, the impact of pension reform on corporate finance and governance and the experience with linking privatisation and pension systems reform.

• Agenda
• Synthesis Note
• General information on the OECD Advisory Group on Privatisation (AGP)

Policy Papers

• Bolivia: Capitalisation, Pension Reform and Their Impact on Capital Markets, by Pablo Gottret, Chairman, Supervisory Body of Pensions and Securities Markets, Bolivia
  pdf document
  Powerpoint Presentation
• How Privatisation has Changed the Role of Equity Markets, by Sophie Javary, Director, ABN Rothschild Banque de Paris
• The Impact of Privatisation on Capital Market Development and Individual Share Ownership, by William L. Megginson and Maria K. Boutchkova, University of Oklahoma
  pdf document
  Powerpoint Presentation
• The Impact of Pension Reform on Corporate Governance Practices and Regulations: the Case of Chile, by Augusto Iglesias Palau, Senior Partner, PrimAmérica, Chile
• Patterns of Change in Corporate Finance and Their Impact on the Governance and Organisation of Enterprises, by Pietro Ciucci, Managing Director, Istituto per la Ricostruzione Industriale S.p.A., Italy
  pdf document
  Powerpoint Presentation
• Privatisation and Pension Reform in Transition Economies, by Peter Mihalyi, Central European University, Hungary
• Privatisation and the Capital Market Financing of Enterprises: the Czech Lesson, by Tomás Jezek, Czech Securities Commission
• Privatisation, Political Risk and Stock Market Development in Emerging Economies, by Enrico C Perotti and Pieter van Oijen, University of Amsterdam
• Réforme Des Retraites et Privatisation: L'expérience d'une Proxy Firm, by Pierre-Henri Leroy, Chief Executive Officer, Proxinvest, France

Papers not presented, but circulated during the meeting

• The Financial and Operating Performance of Privatised Firms during the 1990's, by William L. Megginson, University of Oklahoma
• Social Security Reform and Privatisation in Poland: Parallel projects or integrated agenda?, by Katharina Müller, Economist, Frankfurt Institute for Transformation Studies; Rainer Gesell, Economist, Ministry of Economics, Transport, Agriculture and Viticu
• From State to Market: A Survey of Empirical Studies on Privatisation, by William L. Megginson, Professor & Rainbolt Chair in Finance, Michael F. Price College of Business, The University of Oklahoma and Jeffry M. Netter, Professor of Finance and Adjunct P