A theory of privatization, or why bureaucrats are still in business

Yarrow, George

doi:10.1016/s0305-750x(98)00118-1

Cited by 78 publications

(40 citation statements)

References 2 publications

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“…Moreover, EU competition policy called for the liberalisation of sectors such as telecommunications and electricity. The number and value of privatisations in Europe thus peaked in the second half of the 1990s, before beginning a steady decline until 2011, when they hit a low point of €19.5 billion (Palcic and Reeves, 2011;Yarrow, 1999).…”

Section: Neoliberalisation and Accumulation By Dispossessionmentioning

confidence: 99%

Deepening Neoliberalism, Austerity, and Crisis

Mercille

Murphy

2015

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Section: Neoliberalisation and Accumulation By Dispossessionmentioning

confidence: 99%

Deepening Neoliberalism, Austerity, and Crisis

Mercille

Murphy

2015

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“…The public sector grew rapidly during this period. In Britain, government expenditure as a percentage of GNP was around 8% in 1890, 12% in 1910, 29% in 1932, 38% in 1961 and peaked in the mid 1970s with 49% (Yarrow, 1999).…”

Section: Introductionmentioning

confidence: 99%

Performance of Privatized Enterprises and Impact of Partial Privatization in a Developing Country: Case of Sri Lanka

Peter

Bruijn

Rwegasira

2010

Journal of Transnational Management

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This study investigates the performance of privatized enterprises in a single sector, namely the plantation sector in Sri Lanka. The study provides an insight into the impact of privatization in the context of a developing economy and the impact of State and private ownership on enterprise performance. The panel data enabled the comparative study of enterprise performance under State ownership and management, State ownership and private management and, private ownership and management. It was revealed that after controlling for industry effects, privatization had led to significant increases in profitability, efficiency, capital investment, and output while employment levels had declined. Results were robust when checked for deliberate underperformance. Contrary to the proponents who espouse partial privatization as a solution to nationalist opposition to divesting of State assets, evidence indicates that induction of private management under State ownership had not been able to produce significant improvement in performance.

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“…In the present model, the political leadership has additional possibilities of action: the choice of the privatization price and the redistribution of profits of the 22 Yarrow (1999) theoretically builds on that argument. 23 The most obvious candidates are the unemployed: They would play a role if elections would be decided retrospectively, that is, not on the basis of the expected but of the realized income of voters. 24 Bennedsen (2000) has a model of privatization and employment choice with interest groups.…”

Section: Resultsmentioning

confidence: 99%

The Political Economy of Privatization

Clarke¹,

Pitelis

2005

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Abstract. International organizations promote privatization as precondition for economic development. But is there really too little privatization? This political economy model asks for the incentives of governments to privatize or restructure a state-owned firm. Different government types are compared to identify the political and institutional determinants of privatization. Under privatization, governments commit not to influence the profit-maximizing employment choice by private investors. With respect to the social optimum, both voter-oriented and egoistic governments can have inefficiently high incentives to privatize. When this is the case, outside pressure to privatize is detrimental. An improving institutional environment reduces these inefficiencies.

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A theory of privatization, or why bureaucrats are still in business

Cited by 78 publications

References 2 publications

Deepening Neoliberalism, Austerity, and Crisis

Deepening Neoliberalism, Austerity, and Crisis

Performance of Privatized Enterprises and Impact of Partial Privatization in a Developing Country: Case of Sri Lanka

The Political Economy of Privatization

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