Privatization : Trends and Recent Developments
This paper takes stock of recent privatization trends, examines the extent to which government ownership is still prevalent in developing countries, and summarizes emerging issues for state enterprise reform going forward. Between 1990 and 2003, 120 developing countries carried out nearly 8,000 priv...
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| Format: | Policy Research Working Paper |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/11/6399353/privatization-trends-recent-developments http://hdl.handle.net/10986/8494 |
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okr-10986-8494 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET SALES AUCTIONS BANK PRIVATIZATION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKS CAPITAL MARKET CAPITAL STOCK CASE-BY-CASE PRIVATIZATION COLLATERAL COMMERCIAL BANKS COMPANY COMPETITIVE SECTOR COMPETITIVE SECTORS CONCESSION AGREEMENTS CONCESSION CONTRACTS CONGLOMERATES CONTRACT RENEGOTIATIONS CORPORATE GOVERNANCE CORPORATIONS DEBT DEBT-EQUITY DIRECT INVESTMENT DIVESTITURE DOMESTIC STOCK MARKET EFFICIENCY GAINS EMPLOYMENT ENTERPRISE RESTRUCTURING ENTERPRISE SECTOR EQUITY SWAPS EXECUTIVE DIRECTORS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL PUBLIC ENTERPRISES FINANCIAL SECTOR FINANCIAL SERVICES FIRM PERFORMANCE FISCAL DEFICIT FOREIGN ASSETS FOREIGN COMPETITION FOREIGN INVESTMENT GLOBAL PRIVATIZATION GOVERNMENT OWNERSHIP GOVERNMENT REVENUES GROSS PROCEEDS HOUSING IMPACT OF PRIVATIZATION INCUMBENT OPERATOR INDUSTRIAL SECTOR INFRASTRUCTURE PRIVATIZATION INFRASTRUCTURE SECTORS INFRASTRUCTURE SERVICES INSURANCE INSURANCE COMPANIES INTERNAL GOVERNANCE INTERNATIONAL MARKET INVENTORY INVESTMENT CAPITAL INVESTMENT IN PRIVATIZATION INVESTMENT PROMOTION LABOR FORCE LARGE ENTERPRISES LATIN AMERICAN LAYOFFS LIQUIDATION MANAGEMENT CONTRACTS MARKET DISCIPLINE MARKET ENVIRONMENT MARKET STRUCTURE MASS PRIVATIZATION MONOPOLIES NATIONALIZATION NET PROCEEDS NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS NORTH AFRICA NUMBER OF ENTERPRISES OWNERSHIP DIVERSIFICATION OWNERSHIP STRUCTURE PERFORMANCE OF STATE PRIVATE BUSINESS PRIVATE COMMERCIAL BANKS PRIVATE ENTRY PRIVATE FIRMS PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE OPERATORS PRIVATE PARTICIPATION PRIVATE PARTIES PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRIVATIZATION ACTIVITY PRIVATIZATION DATABASE PRIVATIZATION INTERNATIONAL PRIVATIZATION METHOD PRIVATIZATION METHODS PRIVATIZATION OF BANKS PRIVATIZATION POLICIES PRIVATIZATION PROCEEDS PRIVATIZATION PROCESS PRIVATIZATION PROGRAM PRIVATIZATION PROGRAMS PRIVATIZATION REVENUES PRIVATIZATION TRANSACTION PRIVATIZATION TRANSACTIONS PRIVATIZATION TRENDS PRIVATIZATIONS PROCEEDS PROCEEDS FROM PRIVATIZATION PRODUCTIVE ACTIVITY PRODUCTIVITY PUBLIC COMMERCIAL BANKS PUBLIC ENTERPRISES PUBLIC SECTOR PUBLIC SUPPORT REGULATORY CAPACITIES REGULATORY FRAMEWORK REGULATORY FRAMEWORKS SALE OF SHARES SALE PRICE SERVICE DELIVERY SHARE OFFERINGS SHARE SALES SHAREHOLDERS STATE BANKS STATE CONTROL STATE ENTERPRISE STATE ENTERPRISE SECTOR STATE ENTERPRISES STATE FIRMS STATE OWNERSHIP STATE SECTOR STATE SHARES STATE-OWNERSHIP STOCK MARKETS SUB-SAHARAN AFRICA SUBSIDIARY TARIFF INCREASES THE GAMBIA TRANSPORT UTILITIES VOUCHER PRIVATIZATION WATER CONCESSIONS WATER SECTOR |
| spellingShingle |
ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET SALES AUCTIONS BANK PRIVATIZATION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKS CAPITAL MARKET CAPITAL STOCK CASE-BY-CASE PRIVATIZATION COLLATERAL COMMERCIAL BANKS COMPANY COMPETITIVE SECTOR COMPETITIVE SECTORS CONCESSION AGREEMENTS CONCESSION CONTRACTS CONGLOMERATES CONTRACT RENEGOTIATIONS CORPORATE GOVERNANCE CORPORATIONS DEBT DEBT-EQUITY DIRECT INVESTMENT DIVESTITURE DOMESTIC STOCK MARKET EFFICIENCY GAINS EMPLOYMENT ENTERPRISE RESTRUCTURING ENTERPRISE SECTOR EQUITY SWAPS EXECUTIVE DIRECTORS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL PUBLIC ENTERPRISES FINANCIAL SECTOR FINANCIAL SERVICES FIRM PERFORMANCE FISCAL DEFICIT FOREIGN ASSETS FOREIGN COMPETITION FOREIGN INVESTMENT GLOBAL PRIVATIZATION GOVERNMENT OWNERSHIP GOVERNMENT REVENUES GROSS PROCEEDS HOUSING IMPACT OF PRIVATIZATION INCUMBENT OPERATOR INDUSTRIAL SECTOR INFRASTRUCTURE PRIVATIZATION INFRASTRUCTURE SECTORS INFRASTRUCTURE SERVICES INSURANCE INSURANCE COMPANIES INTERNAL GOVERNANCE INTERNATIONAL MARKET INVENTORY INVESTMENT CAPITAL INVESTMENT IN PRIVATIZATION INVESTMENT PROMOTION LABOR FORCE LARGE ENTERPRISES LATIN AMERICAN LAYOFFS LIQUIDATION MANAGEMENT CONTRACTS MARKET DISCIPLINE MARKET ENVIRONMENT MARKET STRUCTURE MASS PRIVATIZATION MONOPOLIES NATIONALIZATION NET PROCEEDS NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS NORTH AFRICA NUMBER OF ENTERPRISES OWNERSHIP DIVERSIFICATION OWNERSHIP STRUCTURE PERFORMANCE OF STATE PRIVATE BUSINESS PRIVATE COMMERCIAL BANKS PRIVATE ENTRY PRIVATE FIRMS PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE OPERATORS PRIVATE PARTICIPATION PRIVATE PARTIES PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRIVATIZATION ACTIVITY PRIVATIZATION DATABASE PRIVATIZATION INTERNATIONAL PRIVATIZATION METHOD PRIVATIZATION METHODS PRIVATIZATION OF BANKS PRIVATIZATION POLICIES PRIVATIZATION PROCEEDS PRIVATIZATION PROCESS PRIVATIZATION PROGRAM PRIVATIZATION PROGRAMS PRIVATIZATION REVENUES PRIVATIZATION TRANSACTION PRIVATIZATION TRANSACTIONS PRIVATIZATION TRENDS PRIVATIZATIONS PROCEEDS PROCEEDS FROM PRIVATIZATION PRODUCTIVE ACTIVITY PRODUCTIVITY PUBLIC COMMERCIAL BANKS PUBLIC ENTERPRISES PUBLIC SECTOR PUBLIC SUPPORT REGULATORY CAPACITIES REGULATORY FRAMEWORK REGULATORY FRAMEWORKS SALE OF SHARES SALE PRICE SERVICE DELIVERY SHARE OFFERINGS SHARE SALES SHAREHOLDERS STATE BANKS STATE CONTROL STATE ENTERPRISE STATE ENTERPRISE SECTOR STATE ENTERPRISES STATE FIRMS STATE OWNERSHIP STATE SECTOR STATE SHARES STATE-OWNERSHIP STOCK MARKETS SUB-SAHARAN AFRICA SUBSIDIARY TARIFF INCREASES THE GAMBIA TRANSPORT UTILITIES VOUCHER PRIVATIZATION WATER CONCESSIONS WATER SECTOR Kikeri, Sunita Kolo, Aishetu Fatima Privatization : Trends and Recent Developments |
| relation |
Policy Research Working Paper; No. 3765 |
| description |
This paper takes stock of recent privatization trends, examines the extent to which government ownership is still prevalent in developing countries, and summarizes emerging issues for state enterprise reform going forward. Between 1990 and 2003, 120 developing countries carried out nearly 8,000 privatization transactions and raised $410 billion in privatization revenues. Privatization activity peaked in 1997 and dropped off in the late 1990s and, while still at overall low levels, is slowly creeping back. While there are a large number of studies assessing the impact of privatization on enterprise performance and overall welfare, there are no systematic data on the extent to which privatization has changed the role of state enterprises in the economy. Anecdotal evidence suggests that the state's role has been substantially reduced in Eastern and Central Europe and in certain countries in Latin America. But available evidence also suggests that, despite a long track record of privatization, government ownership in state enterprises is still widely prevalent in some regions and countries, and in certain sectors in virtually all regions. The paper shows that the costs of not reforming state enterprises are high and that continued efforts need to be made to improve their performance by improving privatization policies and institutions; adopting more of a case-by-case approach for complex sectors and countries; and exposing state enterprises to market discipline through new private entry and exit of unviable firms and improvements in their corporate governance. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Kikeri, Sunita Kolo, Aishetu Fatima |
| author_facet |
Kikeri, Sunita Kolo, Aishetu Fatima |
| author_sort |
Kikeri, Sunita |
| title |
Privatization : Trends and Recent Developments |
| title_short |
Privatization : Trends and Recent Developments |
| title_full |
Privatization : Trends and Recent Developments |
| title_fullStr |
Privatization : Trends and Recent Developments |
| title_full_unstemmed |
Privatization : Trends and Recent Developments |
| title_sort |
privatization : trends and recent developments |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/11/6399353/privatization-trends-recent-developments http://hdl.handle.net/10986/8494 |
| _version_ |
1764407939391553536 |
| spelling |
okr-10986-84942021-04-23T14:02:43Z Privatization : Trends and Recent Developments Kikeri, Sunita Kolo, Aishetu Fatima ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET SALES AUCTIONS BANK PRIVATIZATION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKS CAPITAL MARKET CAPITAL STOCK CASE-BY-CASE PRIVATIZATION COLLATERAL COMMERCIAL BANKS COMPANY COMPETITIVE SECTOR COMPETITIVE SECTORS CONCESSION AGREEMENTS CONCESSION CONTRACTS CONGLOMERATES CONTRACT RENEGOTIATIONS CORPORATE GOVERNANCE CORPORATIONS DEBT DEBT-EQUITY DIRECT INVESTMENT DIVESTITURE DOMESTIC STOCK MARKET EFFICIENCY GAINS EMPLOYMENT ENTERPRISE RESTRUCTURING ENTERPRISE SECTOR EQUITY SWAPS EXECUTIVE DIRECTORS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL PUBLIC ENTERPRISES FINANCIAL SECTOR FINANCIAL SERVICES FIRM PERFORMANCE FISCAL DEFICIT FOREIGN ASSETS FOREIGN COMPETITION FOREIGN INVESTMENT GLOBAL PRIVATIZATION GOVERNMENT OWNERSHIP GOVERNMENT REVENUES GROSS PROCEEDS HOUSING IMPACT OF PRIVATIZATION INCUMBENT OPERATOR INDUSTRIAL SECTOR INFRASTRUCTURE PRIVATIZATION INFRASTRUCTURE SECTORS INFRASTRUCTURE SERVICES INSURANCE INSURANCE COMPANIES INTERNAL GOVERNANCE INTERNATIONAL MARKET INVENTORY INVESTMENT CAPITAL INVESTMENT IN PRIVATIZATION INVESTMENT PROMOTION LABOR FORCE LARGE ENTERPRISES LATIN AMERICAN LAYOFFS LIQUIDATION MANAGEMENT CONTRACTS MARKET DISCIPLINE MARKET ENVIRONMENT MARKET STRUCTURE MASS PRIVATIZATION MONOPOLIES NATIONALIZATION NET PROCEEDS NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS NORTH AFRICA NUMBER OF ENTERPRISES OWNERSHIP DIVERSIFICATION OWNERSHIP STRUCTURE PERFORMANCE OF STATE PRIVATE BUSINESS PRIVATE COMMERCIAL BANKS PRIVATE ENTRY PRIVATE FIRMS PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE OPERATORS PRIVATE PARTICIPATION PRIVATE PARTIES PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRIVATIZATION ACTIVITY PRIVATIZATION DATABASE PRIVATIZATION INTERNATIONAL PRIVATIZATION METHOD PRIVATIZATION METHODS PRIVATIZATION OF BANKS PRIVATIZATION POLICIES PRIVATIZATION PROCEEDS PRIVATIZATION PROCESS PRIVATIZATION PROGRAM PRIVATIZATION PROGRAMS PRIVATIZATION REVENUES PRIVATIZATION TRANSACTION PRIVATIZATION TRANSACTIONS PRIVATIZATION TRENDS PRIVATIZATIONS PROCEEDS PROCEEDS FROM PRIVATIZATION PRODUCTIVE ACTIVITY PRODUCTIVITY PUBLIC COMMERCIAL BANKS PUBLIC ENTERPRISES PUBLIC SECTOR PUBLIC SUPPORT REGULATORY CAPACITIES REGULATORY FRAMEWORK REGULATORY FRAMEWORKS SALE OF SHARES SALE PRICE SERVICE DELIVERY SHARE OFFERINGS SHARE SALES SHAREHOLDERS STATE BANKS STATE CONTROL STATE ENTERPRISE STATE ENTERPRISE SECTOR STATE ENTERPRISES STATE FIRMS STATE OWNERSHIP STATE SECTOR STATE SHARES STATE-OWNERSHIP STOCK MARKETS SUB-SAHARAN AFRICA SUBSIDIARY TARIFF INCREASES THE GAMBIA TRANSPORT UTILITIES VOUCHER PRIVATIZATION WATER CONCESSIONS WATER SECTOR This paper takes stock of recent privatization trends, examines the extent to which government ownership is still prevalent in developing countries, and summarizes emerging issues for state enterprise reform going forward. Between 1990 and 2003, 120 developing countries carried out nearly 8,000 privatization transactions and raised $410 billion in privatization revenues. Privatization activity peaked in 1997 and dropped off in the late 1990s and, while still at overall low levels, is slowly creeping back. While there are a large number of studies assessing the impact of privatization on enterprise performance and overall welfare, there are no systematic data on the extent to which privatization has changed the role of state enterprises in the economy. Anecdotal evidence suggests that the state's role has been substantially reduced in Eastern and Central Europe and in certain countries in Latin America. But available evidence also suggests that, despite a long track record of privatization, government ownership in state enterprises is still widely prevalent in some regions and countries, and in certain sectors in virtually all regions. The paper shows that the costs of not reforming state enterprises are high and that continued efforts need to be made to improve their performance by improving privatization policies and institutions; adopting more of a case-by-case approach for complex sectors and countries; and exposing state enterprises to market discipline through new private entry and exit of unviable firms and improvements in their corporate governance. 2012-06-19T21:47:25Z 2012-06-19T21:47:25Z 2005-11 http://documents.worldbank.org/curated/en/2005/11/6399353/privatization-trends-recent-developments http://hdl.handle.net/10986/8494 English Policy Research Working Paper; No. 3765 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |