Le garanzie reali al servizio dello Stato (Privatizations: How Security Rights Can Serve the State)

Abstract

In the last decades, many Western countries have undergone economy-wide reforms generally aimed to reduce the role of the State in the economy, by limiting public ownership of land and infrastructures. Privatization programs concerning States’ immovables have taken many forms, and have often been coupled with the alleged benefits of the securitization of immovable property-related assets. In many cases, however, these programs have been carried out with no or little awareness of the variety of instruments that the law of security rights makes available to the privatizing State. The comparative survey conducted in this paper provides an overview of the ways in which Western legal rules and technical devices of security rights law may come to the aid of reforming (Western) States to ensure the fullest realization of public and private interests.

Note: Downloadable document is in Italian.

Keywords: Security Rights, Privatization, Securitization, Public law, Comparative Law

JEL Classification: K11