Privatization in Development : Some Lessons from Experience
This paper briefly reviews the main theories of state versus private ownership and empirical evidence on the impact of privatization in developing countries (including transition economies). The paper draws some lessons for policy and offers some s...
| Main Authors: | , |
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| Format: | Policy Research Working Paper |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091116131648 http://hdl.handle.net/10986/4323 |
| Summary: | This paper briefly reviews the main
theories of state versus private ownership and empirical
evidence on the impact of privatization in developing
countries (including transition economies). The paper draws
some lessons for policy and offers some suggestions on how
to assess privatization, at least in countries where there
is still scope for it. The paper suggests that although
understanding of the efficiency gains of privatization has
increased significantly in recent years, there is an
important area about which little is known: the
distributional effects of privatization. Whether arguing
from the standpoint of welfare economics or political
economy, distributional effects are critical to the outcome,
or the perceived outcome, of privatization. Thus, there is a
need to fully evaluate the ex ante and ex post impacts of
privatization, the most effective types of regulation and
ownership regimes, and the way in which losers, when there
are any, can be compensated. This is a need that must be met
by academics and development agencies, including the World
Bank and regional development banks. |
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