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Author: Mr.Dieter Bös
Publisher: International Monetary Fund
ISBN: 1451852487
Category : Business & Economics
Languages : en
Pages : 20
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Book Description
Since an enterprise, which is to be privatized, has to be restructured in uncertainty, and the restructuring investments are sunk when the final decision on the sale price is taken, there is an imminent danger that restructuring is not efficient, and there is underinvestment. We consider, restructuring by the private buyer of the firm, by a government privatization agency, and by both. In the first two cases—one-sided restructuring—a first best can be achieved. In the case of both-sided restructuring, however, the first best cannot be reached if both parties engage in restructuring after signing the contract.
Author: Mr.Dieter Bös
Publisher: International Monetary Fund
ISBN: 1451852487
Category : Business & Economics
Languages : en
Pages : 20
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Book Description
Since an enterprise, which is to be privatized, has to be restructured in uncertainty, and the restructuring investments are sunk when the final decision on the sale price is taken, there is an imminent danger that restructuring is not efficient, and there is underinvestment. We consider, restructuring by the private buyer of the firm, by a government privatization agency, and by both. In the first two cases—one-sided restructuring—a first best can be achieved. In the case of both-sided restructuring, however, the first best cannot be reached if both parties engage in restructuring after signing the contract.
Author: Robert E. Anderson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
One of the most important policy questions in the transition economies is what governments can do to speed the restructuring of firms and thus hasten the transition to a mature market economy. The authors report on a study that provides some answers. Privatization encourages restructuring if it is rapid and comprehensive and leads to concentrated ownership. Privatization also promotes restructuring because privatized firms are more likely than state-owned enterprises to exercise wage restraint--and wage restraint is vital to free up the necessary internal finance. But policies that increase bank lending to firms, such as debt forgiveness and recapitalization, may do more harm than good. The safest course is to recapitalize banks only as part of privatization and to encourage negotiations for financial restructuring only after the banks are privatized.
Author: Saul Estrin
Publisher: Routledge
ISBN: 1315481790
Category : Political Science
Languages : en
Pages : 445
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Book Description
This volume presents cases from a World Bank study of state-owned industrial firms in Poland, Hungary and the Czech and Slovak republics. Topics that are covered include: structure of the industry; history of the firm; and product mix and sales pattern.
Author: Gerhard Pohl
Publisher: World Bank Publications
ISBN: 9780821339756
Category : Business & Economics
Languages : en
Pages : 48
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Book Description
Why do women in most developing countries lag behind men in literacy? Why do women get less schooling than men? This anthology examines the educational decisions that deprive women of an equal education. It assembles the most up-to-date data, organized by region. Each paper links the data with other measures of economic and social development. This approach helps explain the effects different levels of education have on womens' fertility, mortality rates, life expectancy, and income. Also described are the effects of women's education on family welfare. The authors look at family size and women's labor status and earnings. They examine child and maternal health, as well as investments in children's education. Their investigation demonstrates that women with a better education enjoy greater economic growth and provide a more nurturing family life. It suggests that when a country denies women an equal education, the nation's welfare suffers. Current strategies used to improve schooling for girls and women are examined in detail. The authors suggest an ambitious agenda for educating women. It seeks to close the gender gap by the next century. Published for The World Bank by The Johns Hopkins University Press.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
David Newbery argues that network utilities pose special problems of ownership and regulation.
Author: Gérard Roland
Publisher:
ISBN:
Category : Economic policy
Languages : en
Pages : 32
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Book Description
Author:
Publisher:
ISBN:
Category : Privatization
Languages : en
Pages : 274
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Book Description
The paper assesses the extent, modalities and effects of stakeholders' participation and also examines the impact of privatization and restructuring on employment levels and employment conditions, the working conditions of staff in the privatized organizations and of those remaining in state enterprises, retraining, redeployment and compensation schemes.
Author: Florencio Lopez-de-Silanes
Publisher:
ISBN:
Category : Deregulation
Languages : en
Pages : 476
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Book Description
Author: International Law Institute (Washington, D.C.)
Publisher: International Law Inst
ISBN: 9780935328806
Category : Law
Languages : en
Pages : 370
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Book Description
The structural adjustment programs that were developed to address the debt crises of the 1980s forced governments to finally recognize the great burden of maintaining state enterprises that were becoming increasingly costly. This volume of readings, drawing from a wide variety of sources including publications of government & multilateral organizations as well as private sources, throws useful light on the problem of restructuring & privatizing state enterprises, with special focus on approaches & experiences of developing countries. Drawing upon their extensive experience, each of the editors has prepared an introductory essay to provide a framework for the volume's collected readings. Mr Upper's essay is a clarifying summation of the issues & choices that are faced in a restructuring program; Mr Baldwin's essay provides a valuable historical context to the problem. The book then addresses, in a systematic fashion, the problem of privatization & restructuring, beginning with a discussion of the reasons for dissatisfaction with state-owned enterprises (SOEs). It then provides a framework & methodology for evaluating the performance of SOEs & the welfare consequences of privatization. One of the book's great practical values lies in its Part III, a survey of a range of reform alternatives, including lease & management contracts, conversion of SOEs into independent corporate entities, establishing regulation of monopolies, & build-own-operate & build-own-transfer arrangements, among others. Case studies from all regions of the developing world are included in Part VI. Another eminently useful feature is a lexicon gathered from multiple sources.
Author: Roy L. Crum
Publisher: World Bank Publications
ISBN: 9780821336588
Category : Business & Economics
Languages : en
Pages : 428
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Book Description
A wide gap still exists between Western concepts and their application in the ex-socialist countries during transition. Most Western models in financial management make assumptions about the efficiency and stability of markets and the signals that can be obtained and also assume that traditional accounting information is available and can be used for management purposes. A new paradigm is needed to manage the finance function in a transition economy experiencing hyperinflation since stamdard assumptions are not valid in most ex-socialist countries. This book describes the adaptations of financial techniques as it reviews standard financial concepts and tools, adjusts them when necessary to the unique conditions in the ex-socialist enterprises, and then presents the restructuring context and some strategies that are based on the application of these tools.
