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Author: Mr.Richard Hemming
Publisher: International Monetary Fund
ISBN: 9781557750051
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper examines the role that privatization can play within a wider strategy designed to overcome the problems associated with public enterprises. For this purpose, privatization is defined as a transfer of ownership and control from the public to the private sector, with particular reference to asset sales. It is therefore equated with total or partial denationalization. Economic efficiency is not only the key to improving the performance of the public enterprise sector, but is also the source of other gains often attributed to privatization, in particular, its favorable budgetary impact. To public enterprises that are subject to national or international competition, privatization offers the possibility of increased productive efficiency as government financial backing is withdrawn and bankruptcy and takeover become possibilities. The admissibility and desirability of privatization, as well as what types of enterprise should be privatized, ought to be determined by similar considerations in both industrial and developing countries.
Author: Mr.Richard Hemming
Publisher: International Monetary Fund
ISBN: 9781557750051
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper examines the role that privatization can play within a wider strategy designed to overcome the problems associated with public enterprises. For this purpose, privatization is defined as a transfer of ownership and control from the public to the private sector, with particular reference to asset sales. It is therefore equated with total or partial denationalization. Economic efficiency is not only the key to improving the performance of the public enterprise sector, but is also the source of other gains often attributed to privatization, in particular, its favorable budgetary impact. To public enterprises that are subject to national or international competition, privatization offers the possibility of increased productive efficiency as government financial backing is withdrawn and bankruptcy and takeover become possibilities. The admissibility and desirability of privatization, as well as what types of enterprise should be privatized, ought to be determined by similar considerations in both industrial and developing countries.
Author: Judith Clifton
Publisher: Springer Science & Business Media
ISBN: 1475737335
Category : Business & Economics
Languages : en
Pages : 178
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Book Description
Judith Clifton, Francisco Comín and Daniel Díaz Fuentes in Privatisation in the European Union reject the two dominant explanations provided in literature, which include a simple 'Americanisation' of policy and a 'varied' privatisation experience without a common driving force. Using a systematic comparative analysis of privatisation experiences in each country from the 1980s to the beginning of the twenty first century, the authors show how the process of European integration and the need for internationally competitive industries have constituted key driving forces in the quest for privatisation across the EU. As privatisation slows down at the turn of the millennium, what future can citizens expect for public enterprises? Privatisation in the European Union is essential reading for researchers, students and policy-makers interested in privatisation, EU policy and the history of public enterprises.
Author: John Heath
Publisher: Routledge
ISBN: 1134949588
Category : Business & Economics
Languages : en
Pages : 285
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Book Description
In many parts of the world public enterprise is in crisis. Privatisation programmes are being widely touted as the solution to many of the problems of inefficiency and slow rates of growth associated with public enterprise. This book discusses the underlying causes of those problems, and critically examines some of the solutions that have been adopted. Its geographical coverage is wide and it cuts across the political spectrum. The experiences of countries in four continents are analysed in an attempt to shed light on current dilemmas. Recurrent patterns are found; problems are frequently seen to be political as much as economic, and bureaucracy and administrative confusion is often found to be at the heart of poor financial performance.Yet since political aims, economic environment, and administrative and managerial capabilities vary so widely, universal solutions remain more difficult to define than universal problems.
Author: Robert Millward
Publisher: Cambridge University Press
ISBN: 9780521835244
Category : Energy industries
Languages : en
Pages : 388
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Book Description
Author: R. K. Mishra
Publisher: Mittal Publications
ISBN: 9788170998716
Category : Business and politics
Languages : en
Pages : 254
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Book Description
Author: Roman Frydman
Publisher: Central European University Press
ISBN: 9633864917
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.
Author: John R. Nellis
Publisher: World Bank Publications
ISBN: 9780821345030
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.
Author: Sunita Kikeri
Publisher: World Bank Publications
ISBN:
Category : Privatizacion - Paises en desarrollo
Languages : en
Pages : 31
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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: Paul Cook
Publisher: Edward Elgar Publishing
ISBN:
Category : Government ownership
Languages : en
Pages : 728
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Book Description
In the last decades of the 20th century, privatization has been a key policy instrument in the move to more market-based economic systems in all parts of the developing world. Privatization, however, has not necessarily been accompanied by an increase in market competition. Many public utilities have been privatized as monopolies and in addition regulatory systems have been developed to restrict their market power and protect the interests of consumers. This volume brings together a collection of papers that provide theoretical and empirical insights into privatization and regulation, as well as policy perspectives in relation to developing countries.
Author: William T. Muhairwe
Publisher: IWA Publishing
ISBN: 1843393247
Category : Science
Languages : en
Pages : 424
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Book Description
Public enterprises remain the most dominant medium of service provision in both developing and developed countries. During the 1990s and early 2000s, the outcry about poor performance of public enterprises was overwhelming. Nobody at that time and even now has managed to design a ‘blue print’ solution. And yet, the fact that service provision through public enterprises is here to stay is the blunt truth. In Making Public Enterprises Work - From Despair to Promise: A Turn Around Account, Dr. William Muhairwe, the Managing Director of National Water and Sewerage Corporation of Uganda, discusses the approaches used to turnaround an under-performing state enterprise into a remarkable success story. Drawing on decades of experience, taming ‘struggling’ institutions, Dr. Muhairwe enumerates practical steps taken to make a significant difference in service delivery, for the benefit of any form of enterprise. Combined with facts, simplicity and fun, this book presents a unique account of methods used for constructive engagement and dialogue with donors, government officials, workers, suppliers and, indeed, the public/customers. All chapters are interspersed with tested lessons that any enterprise can benchmark to address its service delivery challenges. It is a great handbook for those involved in re-engineering their businesses. Making Public Enterprises Work contains unique home-grown turnaround reform steps that can help to revamp under-performing enterprises. It is the first book to demonstrate that performance contracts combined with incentives can work wonders in public enterprises. The book discusses how incentive rewards can spread to all levels of staff and encourage wholesome teamwork. It also looks at how enterprises can work without industrial unrest in very difficult conditions. In addition the book demonstrates how public enterprises that have been listed for privatisation can provide alternative restructuring steps. Click here to read and share material related to this title on the IWA WaterWiki.
