Privatization in Competitive Sectors: The Record to Date
The paper reviews recent evidence on the impact of privatization. It focuses on traditional privatization efforts involving firms in competitive markets. It shows that privatization improves firms' financial and operating performance, yields p...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, D.C.
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2002/06/1953633/privatization-competitive-sectors-record-date http://hdl.handle.net/10986/14257 |
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okr-10986-142572021-04-23T14:03:20Z Privatization in Competitive Sectors: The Record to Date Kikeri, Sunita Nellis, John ACCOUNTING BANKING SYSTEM BANKRUPTCY CAPITAL MARKETS COMMERCIAL BANKS CORPORATE GOVERNANCE DEBT DEREGULATION ECONOMIC CONDITIONS ECONOMIC REFORM ECONOMIC REFORMS EMPLOYMENT FINANCIAL CRISIS FINANCIAL INSTITUTIONS FISCAL DEFICITS FOREIGN EXCHANGE FOREIGN OWNERSHIP HARD BUDGET CONSTRAINTS HIGH INCOME COUNTRIES INCOME DISTRIBUTION INDUSTRIALIZED COUNTRIES INFLATION INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATES INTERNATIONAL FINANCE INVESTMENT SPENDING LEGAL SYSTEMS MARKET ECONOMY MERGERS MIDDLE INCOME COUNTRIES MIXED ENTERPRISES NET ASSETS OPERATING EFFICIENCY PRIVATE ENTERPRISES PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PROFITABILITY PUBLIC ENTERPRISES PUBLIC EXPENDITURES PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SERVICES RETIREMENT SHAREHOLDERS SHAREHOLDING STATE BANKING STATE ENTERPRISES STATE OWNERSHIP TRADING TRANSITION ECONOMIES TRANSPORT UNEMPLOYMENT INSURANCE VOUCHER PRIVATIZATION PRIVATIZATION COMPETITIVENESS FINANCIAL PERFORMANCE INDICATORS REVENUE SOURCES TAX COLLECTION UNEMPLOYMENT UNEMPLOYMENT LEVELS INCOME DISTRIBUTION WEALTH GOVERNMENT COMMITMENTS PUBLIC AWARENESS PUBLIC CONSULTATION BARRIERS TO ENTRY FINANCIAL SECTOR REFORM BANKING SYSTEMS REGULATORY FRAMEWORK PRIVATE OWNERSHIP ENVIRONMENTAL MITIGATION SOCIAL EFFECTS OF PROJECTS The paper reviews recent evidence on the impact of privatization. It focuses on traditional privatization efforts involving firms in competitive markets. It shows that privatization improves firms' financial and operating performance, yields positive fiscal and macroeconomic benefits (proceeds are saved rather than spent, transfers decline, and governments start collecting taxes from privatized firms), and improves overall welfare. The popular view that privatization always leads to layoffs is unfounded. While highly protected firms have seen significant declines in net employment, competitive firms generally experienced slight declines if any. Privatization's effects on wealth and income distribution have only recently been receiving the attention of analysts, and research is just getting underway. The paper highlights the conditions for successful privatization: strong political commitment combined with wider public understanding of and support for the process; creation of competitive markets through removal of entry and exit barriers, financial sector reforms that create commercially oriented banking systems, effective regulatory frameworks that reinforce the benefits of private ownership; transparency in the privatization process; and measures to mitigate adverse social and environmental effects. 2013-06-27T19:44:37Z 2013-06-27T19:44:37Z 2002-06 http://documents.worldbank.org/curated/en/2002/06/1953633/privatization-competitive-sectors-record-date http://hdl.handle.net/10986/14257 English en_US Policy, Research working paper;no. WPS 2860 Policy Research Working Paper;No.2860 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, D.C. Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING BANKING SYSTEM BANKRUPTCY CAPITAL MARKETS COMMERCIAL BANKS CORPORATE GOVERNANCE DEBT DEREGULATION ECONOMIC CONDITIONS ECONOMIC REFORM ECONOMIC REFORMS EMPLOYMENT FINANCIAL CRISIS FINANCIAL INSTITUTIONS FISCAL DEFICITS FOREIGN EXCHANGE FOREIGN OWNERSHIP HARD BUDGET CONSTRAINTS HIGH INCOME COUNTRIES INCOME DISTRIBUTION INDUSTRIALIZED COUNTRIES INFLATION INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATES INTERNATIONAL FINANCE INVESTMENT SPENDING LEGAL SYSTEMS MARKET ECONOMY MERGERS MIDDLE INCOME COUNTRIES MIXED ENTERPRISES NET ASSETS OPERATING EFFICIENCY PRIVATE ENTERPRISES PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PROFITABILITY PUBLIC ENTERPRISES PUBLIC EXPENDITURES PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SERVICES RETIREMENT SHAREHOLDERS SHAREHOLDING STATE BANKING STATE ENTERPRISES STATE OWNERSHIP TRADING TRANSITION ECONOMIES TRANSPORT UNEMPLOYMENT INSURANCE VOUCHER PRIVATIZATION PRIVATIZATION COMPETITIVENESS FINANCIAL PERFORMANCE INDICATORS REVENUE SOURCES TAX COLLECTION UNEMPLOYMENT UNEMPLOYMENT LEVELS INCOME DISTRIBUTION WEALTH GOVERNMENT COMMITMENTS PUBLIC AWARENESS PUBLIC CONSULTATION BARRIERS TO ENTRY FINANCIAL SECTOR REFORM BANKING SYSTEMS REGULATORY FRAMEWORK PRIVATE OWNERSHIP ENVIRONMENTAL MITIGATION SOCIAL EFFECTS OF PROJECTS |
| spellingShingle |
ACCOUNTING BANKING SYSTEM BANKRUPTCY CAPITAL MARKETS COMMERCIAL BANKS CORPORATE GOVERNANCE DEBT DEREGULATION ECONOMIC CONDITIONS ECONOMIC REFORM ECONOMIC REFORMS EMPLOYMENT FINANCIAL CRISIS FINANCIAL INSTITUTIONS FISCAL DEFICITS FOREIGN EXCHANGE FOREIGN OWNERSHIP HARD BUDGET CONSTRAINTS HIGH INCOME COUNTRIES INCOME DISTRIBUTION INDUSTRIALIZED COUNTRIES INFLATION INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATES INTERNATIONAL FINANCE INVESTMENT SPENDING LEGAL SYSTEMS MARKET ECONOMY MERGERS MIDDLE INCOME COUNTRIES MIXED ENTERPRISES NET ASSETS OPERATING EFFICIENCY PRIVATE ENTERPRISES PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRODUCTIVITY PROFITABILITY PUBLIC ENTERPRISES PUBLIC EXPENDITURES PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SERVICES RETIREMENT SHAREHOLDERS SHAREHOLDING STATE BANKING STATE ENTERPRISES STATE OWNERSHIP TRADING TRANSITION ECONOMIES TRANSPORT UNEMPLOYMENT INSURANCE VOUCHER PRIVATIZATION PRIVATIZATION COMPETITIVENESS FINANCIAL PERFORMANCE INDICATORS REVENUE SOURCES TAX COLLECTION UNEMPLOYMENT UNEMPLOYMENT LEVELS INCOME DISTRIBUTION WEALTH GOVERNMENT COMMITMENTS PUBLIC AWARENESS PUBLIC CONSULTATION BARRIERS TO ENTRY FINANCIAL SECTOR REFORM BANKING SYSTEMS REGULATORY FRAMEWORK PRIVATE OWNERSHIP ENVIRONMENTAL MITIGATION SOCIAL EFFECTS OF PROJECTS Kikeri, Sunita Nellis, John Privatization in Competitive Sectors: The Record to Date |
| relation |
Policy, Research working paper;no. WPS 2860 |
| description |
The paper reviews recent evidence on the
impact of privatization. It focuses on traditional
privatization efforts involving firms in competitive
markets. It shows that privatization improves firms'
financial and operating performance, yields positive fiscal
and macroeconomic benefits (proceeds are saved rather than
spent, transfers decline, and governments start collecting
taxes from privatized firms), and improves overall welfare.
The popular view that privatization always leads to layoffs
is unfounded. While highly protected firms have seen
significant declines in net employment, competitive firms
generally experienced slight declines if any.
Privatization's effects on wealth and income
distribution have only recently been receiving the attention
of analysts, and research is just getting underway. The
paper highlights the conditions for successful
privatization: strong political commitment combined with
wider public understanding of and support for the process;
creation of competitive markets through removal of entry and
exit barriers, financial sector reforms that create
commercially oriented banking systems, effective regulatory
frameworks that reinforce the benefits of private ownership;
transparency in the privatization process; and measures to
mitigate adverse social and environmental effects. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Kikeri, Sunita Nellis, John |
| author_facet |
Kikeri, Sunita Nellis, John |
| author_sort |
Kikeri, Sunita |
| title |
Privatization in Competitive Sectors: The Record to Date |
| title_short |
Privatization in Competitive Sectors: The Record to Date |
| title_full |
Privatization in Competitive Sectors: The Record to Date |
| title_fullStr |
Privatization in Competitive Sectors: The Record to Date |
| title_full_unstemmed |
Privatization in Competitive Sectors: The Record to Date |
| title_sort |
privatization in competitive sectors: the record to date |
| publisher |
World Bank, Washington, D.C. |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2002/06/1953633/privatization-competitive-sectors-record-date http://hdl.handle.net/10986/14257 |
| _version_ |
1764429893245861888 |