Jump to ContentJump to Main Navigation
The Financial Economics of Privatization$
Users without a subscription are not able to see the full content.

William Leon Megginson

Print publication date: 2005

Print ISBN-13: 9780195150629

Published to Oxford Scholarship Online: October 2005

DOI: 10.1093/0195150627.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 26 May 2019

Why Do Countries Privatize?

Why Do Countries Privatize?

Chapter:
(p.31) 2 Why Do Countries Privatize?
Source:
The Financial Economics of Privatization
Author(s):

William Leon Megginson (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0195150627.003.0002

This chapter begins by framing the theoretical debate about the legitimacy and efficiency of state ownership of business enterprises, and then examines the empirical evidence for and against state ownership. Since the evidence overwhelmingly indicates that state ownership is less efficient than private ownership in most real industrial settings, the reform of state-owned enterprises (SOEs) by measures short of privatization, such as exposing state enterprises to competition or imposing hard budget constraints is assessed. While some economic reforms can be effective in their own right, the question of whether these reforms would be more effective if coupled with a shift to private ownership remains unanswered. Thus, many countries have decided to launch large-scale privatization programs. The fiscal and macroeconomic impact of these programs on the public finances of divesting countries are examined.

Keywords:   privatization, state ownership, business enterprises, state-owned enterprises, SOE, competition, deregulation

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .