How Governments Privatize

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How Governments Privatize

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Author : Mark Cassell
language : en
Publisher: Georgetown University Press
Release Date : 2003-08-01

How Governments Privatize written by Mark Cassell and has been published by Georgetown University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-08-01 with Political Science categories.

Governments throughout the world confront enormous challenges when divesting. Whether it is poor-performing bank loans in Japan and Korea, military bases in the United States, or real estate in eastern Europe, the challenge of public divestment is more than just a question of how to map a path to economic efficiency. Conventional wisdom in public management and privatization literature says that the execution of such enormous tasks as divestment is typically done poorly, and that the government strategy is likely to be inefficient. Mark Cassell argues that privatization must be understood as a political and administrative puzzle rather than simply an exercise in economic efficiency. This study of two successful divestment agencies — the U.S. Resolution Trust Corporation and the German Treuhandanstalt — presents a complex understanding of the two agencies' performance in privatizing hundreds of billions of dollars of assets following two very different crises, the savings and loan debacle in the United States and unification in Germany. In the U.S., the worst economic problem since the Great Depression forced the government to recreate and reshape private property on an immense scale. In Germany, melding East and West Germany involved converting an entire national economy that employed more than four million people. In each case, unassuming public agencies handled two of the largest public sales of assets in this century. Cassell identifies the importance and effects of managerial structures and of national institutions — legislatures and executives — on the outcomes of the reform efforts. This book will be of interest to those interested in alternatives to traditional public-sector structures, electoral connections to bureaucracies, comparative political economy, and the historic events of the aftermath of the savings and loan crisis and German unification. It is crucial reading for policy and public administration practitioners and scholars alike.

Why Do Governments Privatize

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Author : Loren Brandt, Hongbin Li, and Joanne Roberts
language : en
Publisher:
Release Date : 2001

Why Do Governments Privatize written by Loren Brandt, Hongbin Li, and Joanne Roberts and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.

The Challenges Of Privatization

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Author : Bernardo Bortolotti
language : en
Publisher: OUP Oxford
Release Date : 2004-03-11

The Challenges Of Privatization written by Bernardo Bortolotti and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-03-11 with Business & Economics categories.

From 1997 to 2001, more than 4,000 privatization operations have been carried out in more than 100 countries, bringing in government revenues of over 1,362 billion dollars. The phenomenon, which grew exponentially at the end of the 1990s and then abruptly slowed down, had dramatic consequences on the performance of state-owned enterprises and a significant impact on industrialized countries, as well as emerging and less developed economies. Yet there have been surprisingly few attempts to provide a systematic empirical account of the privatization process at the worldwide level. Why do governments privatize? Why do some countries accomplish large-scale privatization programmes, and others never privatize at all? Is privatization a trend or a cycle? Furthermore, how do governments privatize? Do governments really transfer ownership and control of state-owned enterprises or does private ownership tend to coexist with public control? This book provides some answers to these important questions trying to test research hypotheses set forth by the recent economic theory of privatization. Comprehensive cross-country empirical analyses carried out over a period of more than twenty years are used in the book to show that privatization has taken place all over the world, sometimes spontaneously, more often under the pressure of economic and budgetary constraints. Several of the goals of the privatization have been met, but despite proclamations and programmes, only a small minority of countries has carried out a genuine privatization process, completely transferring ownership of state-owned enterprises to the private sector. A lack of political will is to some extent at the root of this reluctance. However this reluctance can be traced back partly to structural factors that would make an orderly privatization difficult, such as the absence of developed capital markets, appropriate regulation, and suitable institutions.

Government Privatization

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Author :
language : en
Publisher:
Release Date : 2006

Government Privatization written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Contracting out categories.

Tables include: 1) Risk distribution in various delivery systems; 2) Net present value examples; 3) Internal rate of return example ; 4) Illinois Tollway revenues and expenses ; 5) Prisoners held in private facilities.

The Rise And Fall Of Privatization In The Russian Oil Industry

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Author : Li-Chen Sim
language : en
Publisher: Palgrave MacMillan
Release Date : 2008-10-24

The Rise And Fall Of Privatization In The Russian Oil Industry written by Li-Chen Sim and has been published by Palgrave MacMillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-24 with Business & Economics categories.

This book is a study of the actors and institutions that shaped decision-making on privatization in the Russian oil industry between 1992 and 2006. Li-Chen analyzes the origins of privatization as a policy on a macro, industry-wide level, as well as presenting three in-depth case studies of privatization on a company level.

Privatization And Public Private Partnerships

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Author : Emanuel S. Savas
language : en
Publisher: CQ Press
Release Date : 2000

Privatization And Public Private Partnerships written by Emanuel S. Savas and has been published by CQ Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.

Savas provides hundreds of examples from local, state, and federal government in the US and other countries. This is a successor volume to "Privatization: The Key to Better Government".

Global Privatization And Its Impact

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Author : Ingrid J. Hagen
language : en
Publisher:
Release Date : 2009

Global Privatization And Its Impact written by Ingrid J. Hagen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.

In recent years, the economic policy of privatisation, which is defined as the transfer of property or responsibility from public sector to private sector, is one of the global phenomenon that increases use of markets to allocate resources. One important motivation for privatisation is to help develop factor and product markets, as well as security markets. Progress in privatisation is correlated with improvements in perceived political and investment risk. Many emerging countries have gradually reduced their political risks during the course of sustained privatisation. In fact, most risk resolution seems to take place as privatisation proceeds to its later stage. Alternative benefits of privatisation are improved risk sharing and increased liquidity and activity of the market. One of the main methods to develop privatisation is entering a new stock to the markets for arising competition. This book provides leading edge research on this field from around the globe.

Privatization

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Author : Emanuel S. Savas
language : en
Publisher:
Release Date : 1987

Privatization written by Emanuel S. Savas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Business & Economics categories.

An examination of privatization. This book deals with a variety of topics connected to this subject, including the characteristics of privatization alternatives, its applications in protective and human services, and problems which can occur with privatization.

Privatize Eliminate Retain Or Modify

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Author : Kansas Council on Privatization
language : en
Publisher:
Release Date : 1995

Privatize Eliminate Retain Or Modify written by Kansas Council on Privatization and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Contracting out categories.

Privatization With Government Control

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Author : Yadviga Semikolenova
language : en
Publisher:
Release Date : 2006

Privatization With Government Control written by Yadviga Semikolenova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

Governments that privatize state industries often retain control over key distribution assets. While there are many examples of this form of partial privatization, to our knowledge there are no substantial quantitative studies of how governments use their control under these circumstances. In this paper we argue that the Russian government privatization of the oil sector during 1994-2003 is a useful case study because the federal government privatized oil production but retained monopoly control rights over the transport of crude onto world markets. Based on a simple analysis of the costs and benefits of control and ownership, we argue that that in these circumstances the federal government would use its control over transport capacity to provide privileged access to those companies over which it has influence. We find that in 2003 this is indeed the case and that this system detracted from economic efficiency. In particular, private and regionally owned companies had to be much more productive than companies over which the federal government (the state) had influence to receive comparable access to world markets; state-influence companies had preferential access to routes with more capacity; and, the allocation of route capacity was sensitive to transport costs only in the state-influence sector.