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Author: Sunita Kikeri Publisher: ISBN: Category : Languages : en Pages : 52
Book Description
The paper reviews recent evidence on the impact of privatization. It focuses on traditional privatization efforts involving firms in competitive markets. It shows that privatization improves firms' financial and operating performance, yields positive fiscal and macroeconomic benefits (proceeds are saved rather than spent, transfers decline, and governments start collecting taxes from privatized firms), and improves overall welfare. The popular view that privatization always leads to layoffs is unfounded. While highly protected firms have seen significant declines in net employment, competitive firms generally experienced slight declines if any. Privatization's effects on wealth and income distribution have only recently been receiving the attention of analysts, and research is just getting underway.The paper highlights the conditions for successful privatization: strong political commitment combined with wider public understanding of and support for the process; creation of competitive markets through removal of entry and exit barriers, financial sector reforms that create commercially oriented banking systems, effective regulatory frameworks that reinforce the benefits of private ownership; transparency in the privatization process; and measures to mitigate adverse social and environmental effects.This paper - a product of the Private Provision of Public Services Division, Private Sector Advisory Services Department - is part of a larger effort in the department to analyze and disseminate recent findings in private sector development. The authors may be contacted at [email protected] or [email protected].
Author: Sunita Kikeri Publisher: ISBN: Category : Languages : en Pages : 52
Book Description
The paper reviews recent evidence on the impact of privatization. It focuses on traditional privatization efforts involving firms in competitive markets. It shows that privatization improves firms' financial and operating performance, yields positive fiscal and macroeconomic benefits (proceeds are saved rather than spent, transfers decline, and governments start collecting taxes from privatized firms), and improves overall welfare. The popular view that privatization always leads to layoffs is unfounded. While highly protected firms have seen significant declines in net employment, competitive firms generally experienced slight declines if any. Privatization's effects on wealth and income distribution have only recently been receiving the attention of analysts, and research is just getting underway.The paper highlights the conditions for successful privatization: strong political commitment combined with wider public understanding of and support for the process; creation of competitive markets through removal of entry and exit barriers, financial sector reforms that create commercially oriented banking systems, effective regulatory frameworks that reinforce the benefits of private ownership; transparency in the privatization process; and measures to mitigate adverse social and environmental effects.This paper - a product of the Private Provision of Public Services Division, Private Sector Advisory Services Department - is part of a larger effort in the department to analyze and disseminate recent findings in private sector development. The authors may be contacted at [email protected] or [email protected].
Author: Sunita Kikeri Publisher: ISBN: Category : Languages : en Pages :
Book Description
The paper reviews recent evidence on the impact of privatization. It focuses on traditional privatization efforts involving firms in competitive markets. It shows that privatization improves firms' financial and operating performance, yields positive fiscal and macroeconomic benefits (proceeds are saved rather than spent, transfers decline, and governments start collecting taxes from privatized firms), and improves overall welfare. The popular view that privatization always leads to layoffs is unfounded. While highly protected firms have seen significant declines in net employment, competitive firms generally experienced slight declines if any. Privatization's effects on wealth and income distribution have only recently been receiving the attention of analysts, and research is just getting underway. The paper highlights the conditions for successful privatization: strong political commitment combined with wider public understanding of and support for the process; creation of competitive markets through removal of entry and exit barriers, financial sector reforms that create commercially oriented banking systems, effective regulatory frameworks that reinforce the benefits of private ownership; transparency in the privatization process; and measures to mitigate adverse social and environmental effects.
Author: Hubert Gabrisch Publisher: Palgrave Macmillan ISBN: 9781403934949 Category : Business & Economics Languages : en Pages : 256
Book Description
Thisbook assumes transformation of former socialist countries of Europe to a market economy to be a political concept, having a start and an end. Transformation is analyzed from the perspective of the end (EU membership), and not of the inherited burdens from the socialist system. Additionally, the authors look at the results of transformation and its ability to improve social standards, income, and growth.
Author: Gérard Roland Publisher: Columbia University Press ISBN: 0231141602 Category : Business & Economics Languages : en Pages : 257
Book Description
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.
Author: John R. Nellis Publisher: World Bank Publications ISBN: 9780821321812 Category : Business & Economics Languages : en Pages : 100
Book Description
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.
Author: John Vickers Publisher: MIT Press ISBN: 9780262720113 Category : Business & Economics Languages : en Pages : 476
Book Description
The process of selling assests and enterprises to the private sector raises questions about natural monopolies, the efficiency and equity of state-owned versus privately owned enterprises, and industrial policy. This comprehensive analysis of the British privatization program explores these questions both theoretically and empirically.
Author: Alberto Chong Publisher: World Bank Publications ISBN: 0821383507 Category : Business & Economics Languages : en Pages : 526
Book Description
Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified? 'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts. 'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.' --Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University
Author: OECD Publisher: OECD Publishing ISBN: 9264180583 Category : Languages : en Pages : 216
Book Description
This volume brings together a number of papers discussing the interrelationship among privatisation, competition and regulation. The papers make reference to the experience of different countries with privatisation in a wide range of infrastructure sectors.
Author: Sunita Kikeri Publisher: World Bank Publications ISBN: Category : Privatizacion - Paises en desarrollo Languages : en Pages : 31
Book Description
"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.
Author: Sunita Kikeri
Author: Sunita Kikeri
Author: Sunita Kikeri
Author: Sunita Kikeri
Author: Hubert Gabrisch
Author: Gérard Roland
Author: John R. Nellis
Author: John Vickers
Author: Alberto Chong
Author: OECD
Author: Sunita Kikeri