Privatization: Lessons From Market Economies

Kikeri, Sunita; Nellis, John; Shirley, Mary M.

doi:10.1093/wbro/9.2.241

Cited by 69 publications

(39 citation statements)

References 14 publications

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“…The 'British paradigm' is alive and well in the contemporary period. It characterizes much of the contemporary policy prescriptions by the World Bank and the International Monetary Fund, where recommendations insist on the superiority of private ownership for efficiency and the need to avoid the 'deadly disease' of public ownership (Kikeri et al 1994;Shirley 1999). In order to test the explanatory power of the 'British paradigm', it is claimed that: Governments sought to emulate the UK privatization experience.…”

Section: Privatization: Three Dominant Paradigmsmentioning

confidence: 99%

Privatizing public enterprises in the European Union 1960–2002: ideological, pragmatic, inevitable?

Clifton¹,

Comín²,

Fuentes³

2006

Journal of European Public Policy

152

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Privatization, recognized as one of the most important economic policy reforms from the 1970s, has attracted significant attention from scholars, and the literature on the topic is now vast. Yet there is little agreement on the reasons why governments privatized. Three dominant paradigms explaining European Union (EU) privatization put forward distinct motivations. The 'British paradigm' assumed that market-friendly ideology played a significant role in a path towards a global programme inspired by the UK experience. The 'multiple logics' approach observed that the UK was an anomaly, not a leader, and that EU privatization was so diverse that there were few, if any, common logics. The 'European paradigm' emphasized the importance of Europe in the context of a changing world and placed EU privatization in the context of economic and political integration. This article tests all three paradigms using comparative data on EU privatization by country and sector. Pragmatic concerns connected to European integration requirements, particularly in sectors such as telecommunications, transport and utilities, were of the utmost importance in motivating governments to privatize from the 1990s. Europe is thus a powerful explanatory factor when considering ongoing EU privatization.

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Section: Privatization: Three Dominant Paradigmsmentioning

confidence: 99%

Privatizing public enterprises in the European Union 1960–2002: ideological, pragmatic, inevitable?

Clifton¹,

Comín²,

Fuentes³

2006

Journal of European Public Policy

152

View full text Add to dashboard Cite

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“…The results reveal significant improvements in performance, achieved, though surprisingly, without having to sacrifice employment security. According to the World Bank study carried out by Kikeri, Nellis, & Shirley (1994), thousands of state companies all over the world have gone private, due to the fact that more than 80 countries have launched ambitious efforts to privatize their state-owned companies. Another good example of privatization benefits was provided by Porta & Lopez-de-Silanes (1997), who collected data on all 218 non-financial enterprises privatized in Mexico in the period from 1983 until 1991.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial analysis of Serbian companies undergoing privatization

Veskovic¹

2016

Eur J Appl Econ

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Abstract:This study presents a financial analysis of companies undergoing the process of privatization in the Republic of Serbia (RS). A total of 182 of such companies were examined and compared to an equal number of randomly chosen companies of comparable size. The results revealed a significant gap between the financial performances of the two samples. For that reason, the companies undergoing privatization need to undergo radical changes for the purpose of achieving a higher level of profitability and preventing further losses. Given that these companies pose a significant challenge for the Serbian economy, the author believes that this study will serve as a reference for further research. In addition, this manuscript shall present the comparative analysis of the total net loss of the observed companies and the gross domestic product of the RS, as well as between the corresponding number of employees for the year 2013.

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“…Therefore, a privatization program might be tailored to achieve specific objectives of government's policy (Shehadi, 2002). Kikeri et al (1994) pointed to two conditions for successful privatization. While the first is related to a country's ability to offer a stable and predictable investment environment, the second is associated with the market ability to offer a competitive environment that ensures efficiency.…”

Section: Previous Related Studiesmentioning

confidence: 99%

Employees and Managers Attitude towards Privatization Programs: Evidence from an Emerging Economy

AL‐Mutairi¹,

Naser²,

Fayez³

2014

IJEF

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This study is set out to explore employees and management attitude towards privatization in Kuwait. To a chive this objective, a questionnaire has been distributed to employees and managers of 21 privatized companies and they were requested to state to what extent they agree or disagree with different aspects of privatization. The results of analyzing their responses revealed that a successful privatization program in Kuwait should be restricted to outsourcing, deregulation and joint venture partnerships forms of privatization. The analysis also showed that privatization would confront difficulties due to the absence of competition and profit incentives in the public sector enterprises, some projects entail social responsibility that cannot be attained by the private sector, privatization might result in employees' lay-off and fear of extensive government regulation. The results of the analysis further affirmed that privatization would be restricted to light and moderate industries, communication and luxury goods and services and the government should continue being responsible for some strategic enterprises such as education, electricity, health and water. Finally, the results of the analysis illustrated that effective privatization can result in improvement in the quality of goods and services, development in foreign economic relations with Kuwait, improvement in investment climate in Kuwait, increase in competition and ultimately stimulate economic growth.

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Privatization: Lessons From Market Economies

Cited by 69 publications

References 14 publications

Privatizing public enterprises in the European Union 1960–2002: ideological, pragmatic, inevitable?

Privatizing public enterprises in the European Union 1960–2002: ideological, pragmatic, inevitable?

Financial analysis of Serbian companies undergoing privatization

Employees and Managers Attitude towards Privatization Programs: Evidence from an Emerging Economy

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