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The Impact of Privatization by Stephen Martin,David Parker Pdf
Are resources allocated more efficiently through private ownership than through the public sector? The experiences of eleven newly privatised companies are examined to evaluate this hypothesis. With the Government's pro-privatization policies in place for over a decade, this is a prime time to evaluate theory versus reality.
The Privatization of Everything by Donald Cohen,Allen Mikaelian Pdf
The book the American Prospect calls “an essential resource for future reformers on how not to govern,” by America’s leading defender of the public interest and a bestselling historian “An essential read for those who want to fight the assault on public goods and the commons.” —Naomi Klein A sweeping exposé of the ways in which private interests strip public goods of their power and diminish democracy, the hardcover edition of The Privatization of Everything elicited a wide spectrum of praise: Kirkus Reviews hailed it as “a strong, economics-based argument for restoring the boundaries between public goods and private gains,” Literary Hub featured the book on a Best Nonfiction list, calling it “a far-reaching, comprehensible, and necessary book,” and Publishers Weekly dubbed it a “persuasive takedown of the idea that the private sector knows best.” From Diane Ravitch (“an important new book about the dangers of privatization”) to Heather McGhee (“a well-researched call to action”), the rave reviews mirror the expansive nature of the book itself, covering the impact of privatization on every aspect of our lives, from water and trash collection to the justice system and the military. Cohen and Mikaelian also demonstrate how citizens can—and are—wresting back what is ours: A Montana city took back its water infrastructure after finding that they could do it better and cheaper. Colorado towns fought back well-funded campaigns to preserve telecom monopolies and hamstring public broadband. A motivated lawyer fought all the way to the Supreme Court after the state of Georgia erected privatized paywalls around its legal code. “Enlightening and sobering” (Rosanne Cash), The Privatization of Everything connects the dots across a wide range of issues and offers what Cash calls “a progressive voice with a firm eye on justice [that] can carefully parse out complex issues for those of us who take pride in citizenship.”
The Impact of Privatisation by Stephen Martin,David Parker Pdf
Over the past decade economic policy in the UK and elsewhere has been guided by the belief that resources are used more efficiently in the private sector than under state ownership. Consequently, many formerly state-owned companies have been transferred to the private sector. After surveying the theoretical arguments for and against this hypothesis, this book examines the experience of eleven firms, including British Airways, Rolls-Royce and British Telecom. Various indicators are used to measure each firm's performance before and after privatisation to assess whether this policy has brought about improvements in efficiency. The first four chapters provide background material for the empirical work that follows. Chapter 1 outlines the theoretical arguments for and against the idea that private ownership will be more efficient than state control. Chapter 2 provides brief histories of the eleven organisations studied and chapter 3 discusses how their performance can be measured. Chapter 4 reviews the literature on the relative efficiency of public and private ownership. Chapter 5 considers the impact of privatisation on each of the eleven firms' labour and total factor productivity growth. Chapter 6 performs a similar analysis using two standard accounting ratios (value-added and the rate of profit). Chapter 7 assesses the impact of privatisation on technical efficiency using data envelopment analysis. In chapter 8 the impact of ownership on employment, wage levels and the distribution of business income is considered. The penultimate chapter discusses the restructuring that has followed each company's move into the private sector, and the final chapter summarises the results.
The Economic and Social Impact of Privatisation of State-owned Enterprises in Africa by I. Obadan Pdf
The case for privatization, whether defined in a broad or narrow sense, has been forcefully made by its advocates against the backdrop of the much advertised poor performances of state-owned enterprises (SOEs) and theoretical arguments relating to the efficiency of private firms over public enterprises. Consequently, privatization and commercialization have been key components of the structural adjustment programmes foisted by the Bretton Woods institutions on Third World countries. Yet, the empirical findings on privatization, especially outside Africa where they exist, do not portray the strategy to be a panacea that works in all circumstances in all branches of economic activity. In spite of this, since the late 1980s, privatization has been stepped up in almost all African countries. And after about two decades of vigorous implementation of privatization programmes in Africa, there is a compelling need for a comprehensive and systematic analysis of various privatization issues, particularly the economic and social impact. This book thus establishes a clear case for a comprehensive and systematic analysis of the impact of privatization in Africa. Specifically, the book provides a state-of-the art review of privatization issues and research questions as a prelude to an in-depth study of the economic and social impact of privatization. In the light of the rich insights brought to bear on the issues, this book should stimulate the interest of researchers, donors and policy makers to undertake or support the follow-up in-depth research envisaged.
Over the past decade India has been undertaking a programme of economic reform, and at the same time the economy has been growing at a high rate. As part of the reform programme, and in line with prevailing economic thinking, India has been privatising its large, ungainly public sector. One assumption underlying this programme is the dogma that public sector enterprises are doomed to inefficiency, and that competitive market forces can be relied on to make firms more efficient once they are privatised. But is this really true? Combining rigorous data analysis with case studies to provide a balanced evaluation of the process of deregulation and privatisation within the overall context of economic reforms, the author demonstrates, remarkably, that, contrary to the prevailing view, private sector firms do not outperform public sector firms across all sectors. He also shows that revenue-raising considerations have weighed more heavily with the government than efficiency objectives. Overall, this study of the reform process in India, with its unique longstanding mix of private and public sectors, will be of great interest to all those studying reform and transition worldwide.
The privatization of large state-owned enterprises is one of the most radical policy developments of the last quarter century. Right-wing governments have privatized in an effort to decrease the size of government, while left-wing governments have privatized either to compensate for the failures of state-owned firms or to generate revenues. In this way, privatization has spread from Europe to Latin America, from Asia to Africa, reaching its zenith with Central and Eastern Europe's transition from socialism to capitalism. In many countries state ownership has been an important tool in bringing cheap water, energy, and transport to poorer segments of the population. In other instances, it has sponsored aggressive cutbacks, corruption, and cronyism. Privatization: Successes and Failures evaluates the practices and results of privatization in Eastern Europe, Africa, Latin America, and Asia. Featuring the world's leading economists and experts on privatization, this volume offers a broad and balanced analysis of specific privatization projects and uncovers some surprising trends. Partial privatization, for example, tends to be more widespread than one might think, and the effects of privatization on efficiency are generally mixed but rarely negative. Also, while privatization appears uncontroversial in competitive sectors, it becomes increasingly complex in more monopolistic sectors where good regulation is crucial. Privatization concludes with alternative frameworks for countries in Africa and other regions that seek to develop privatization policy and programs.
Privatisation is supposed to bring about the retreat of the state. But what happens when the state privatises itself and even its core functions - tax collection, internal security, customs - are auctioned to the highest bidder? Does this imply a weakening of the state? Or, rather, does it lead to a scrutiny and control? The contributors to this work examine these phenomena in the former Second and Third World (Central and Eastern Europe, China and other parts of Asia and Africa) highlighting the very different ways in which continuing state interference and privatisation are implemented. What we are witnessing, according to this study, is not the eclipse of the state under the impact of globalisation but the end of the relatively short era of the development state and its commanding role. privatisation does not necessarily lead to a weakening of state control; it leads to new, and often more informal, forms of interference and influence, and it is these that are the book's central theme.
The Impact of Privatization by Stephen Martin,David Parker Pdf
Are resources allocated more efficiently through private ownership than through the public sector? The experiences of eleven newly privatised companies are examined to evaluate this hypothesis. With the Government's pro-privatization policies in place for over a decade, this is a prime time to evaluate theory versus reality.
Author : John R. Nellis,Mary M. Shirley Publisher : World Bank Publications Page : 100 pages File Size : 45,5 Mb Release : 1992-01-01 Category : Business & Economics ISBN : 0821321811
Privatization by John R. Nellis,Mary M. Shirley Pdf
Governance, as defined by the World Bank in its 1992 report, Governance and Development, is the manner in which power is exercised in the management of a country's economic and social resources for development. The report deemed it is within the Bank's mandate to focus on the following: -the process by which authority is exercised in the management of a country's economic and social resources -the capacity of governments to design, formulate, and implement policies and discharge functions. Also available: Governance: The World Bank's Experience (ISBN 0-8213-2804-2) Stock No. 12804.
The Challenges of Privatization by Bernardo Bortolotti,Assistant Professor University of Turin Bernardo Bortolotti,Domenico Siniscalco Pdf
From 1997 to 2001, more than 4,000 privatization operations have been carried out in more than 100 countries, bringing in government revenues of over 1,362 billion dollars. The phenomenon, which grew exponentially at the end of the 1990s and then abruptly slowed down, had dramatic consequences on the performance of state-owned enterprises and a significant impact on industrialized countries, as well as emerging and less developed economies. Yet there have been surprisingly fewattempts to provide a systematic empirical account of the privatization process at the worldwide level.Why do governments privatize? Why do some countries accomplish large-scale privatization programmes, and others never privatize at all? Is privatization a trend or a cycle? Furthermore, how do governments privatize? Do governments really transfer ownership and control of state-owned enterprises or does private ownership tend to coexist with public control?This book provides some answers to these important questions trying to test research hypotheses set forth by the recent economic theory of privatization.Comprehensive cross-country empirical analyses carried out over a period of more than twenty years are used in the book to show that privatization has taken place all over the world, sometimes spontaneously, more often under the pressure of economic and budgetary constraints. Several of the goals of the privatization have been met, but despite proclamations and programmes, only a small minority of countries has carried out a genuine privatization process, completely transferring ownership ofstate-owned enterprises to the private sector. A lack of political will is to some extent at the root of this reluctance. However this reluctance can be traced back partly to structural factors that would make an orderly privatization difficult, such as the absence of developed capital markets,appropriate regulation, and suitable institutions.
Author : Linda Y Yueh,Yang Yao Publisher : World Scientific Page : 299 pages File Size : 54,9 Mb Release : 2006-11-29 Category : Business & Economics ISBN : 9789814477628
Globalisation And Economic Growth In China by Linda Y Yueh,Yang Yao Pdf
In the 26 years since market-oriented reforms were introduced, China has emerged onto the world stage as a major economic presence, particularly since her accession to the World Trade Organisation in 2001.This book is a collection of papers on the effects of globalisation on China's growth prospects and of China's growth on the wider economy. The issues explored include the sustainability of China's continuing economic reform and the necessary reforms to sustain that growth; the considerable effects of her integration into the global economy and its implications for the conduct of Chinese economic policies, including the exchange rate regime; and the influence of China on the regional and world economy. China's competitiveness in exports has also begun to challenge the market share of developing and developed economies; this role in promoting intra-regional trade is also explored.
Privatisation in Ireland by D. Palcic,E. Reeves Pdf
This book analyzes privatization in Ireland, a European economy that has experienced rapidly changing fortunes over the last thirty years. It examines the effects of privatization in terms of corporate performance, public finances and the distributional aspects of privatization including the impact on employment and share ownership.
"This paper takes stock of recent privatization trends, examines the extent to which government ownership is still prevalent in developing countries, and summarizes emerging issues for state enterprise reform going forward. Between 1990 and 2003, 120 developing countries carried out nearly 8,000 privatization transactions and raised $410 billion in privatization revenues. Privatization activity peaked in 1997 and dropped off in the late 1990s and, while still at overall low levels, is slowly creeping back. While there are a large number of studies assessing the impact of privatization on enterprise performance and overall welfare, there are no systematic data on the extent to which privatization has changed the role of state enterprises in the economy. Anecdotal evidence suggests that the state's role has been substantially reduced in Eastern and Central Europe and in certain countries in Latin America. But available evidence also suggests that, despite a long track record of privatization, government ownership in state enterprises is still widely prevalent in some regions and countries, and in certain sectors in virtually all regions. The paper shows that the costs of not reforming state enterprises are high and that continued efforts need to be made to improve their performance by improving privatization policies and institutions; adopting more of a case-by-case approach for complex sectors and countries; and exposing state enterprises to market discipline through new private entry and exit of unviable firms and improvements in their corporate governance. "--World Bank web site.
