IL CAPITALISMO MUNICIPALE

Abstract

The paper describes the main reasons that lead Local Government to create joint-stock companies for the provision of services and activities previously managed internally. These reasons are basically linked to regulation, as well as to financial and organizational issues. The paper argues that, for the most part of the cases, there are several differences between the public and the private sector as regards the achievement of the expected benefits form "corporatization”, such as limited liability, bankruptcy, efficiency, profits, etc.. In fact, in the public sector these benefits appear substantially less important in comparison with the private sector.