Privatization in Competitive Sectors: The Record to Date

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collection.link.5
https://openknowledge.worldbank.org/handle/10986/9
collection.name.5
Policy Research Working Papers
dc.contributor.author
Kikeri, Sunita
dc.contributor.author
Nellis, John
dc.date.accessioned
2013-06-27T19:44:37Z
dc.date.available
2013-06-27T19:44:37Z
dc.date.issued
2002-06
dc.date.lastModified
2017-12-14T04:31:52Z
dc.description.abstract
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.
en
dc.identifier
http://documents.worldbank.org/curated/en/2002/06/1953633/privatization-competitive-sectors-record-date
dc.identifier.uri
http://hdl.handle.net/10986/14257
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, D.C.
dc.relation.ispartofseries
Policy, Research working paper;no. WPS 2860
dc.relation.ispartofseries
Policy Research Working Paper;No.2860
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTING
dc.subject
BANKING SYSTEM
dc.subject
BANKRUPTCY
dc.subject
CAPITAL MARKETS
dc.subject
COMMERCIAL BANKS
dc.subject
CORPORATE GOVERNANCE
dc.subject
DEBT
dc.subject
DEREGULATION
dc.subject
ECONOMIC CONDITIONS
dc.subject
ECONOMIC REFORM
dc.subject
ECONOMIC REFORMS
dc.subject
EMPLOYMENT
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
FISCAL DEFICITS
dc.subject
FOREIGN EXCHANGE
dc.subject
FOREIGN OWNERSHIP
dc.subject
HARD BUDGET CONSTRAINTS
dc.subject
HIGH INCOME COUNTRIES
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INCOME DISTRIBUTION
dc.subject
INDUSTRIALIZED COUNTRIES
dc.subject
INFLATION
dc.subject
INSTITUTIONAL DEVELOPMENT
dc.subject
INSURANCE
dc.subject
INTEREST RATES
dc.subject
INTERNATIONAL FINANCE
dc.subject
INVESTMENT SPENDING
dc.subject
LEGAL SYSTEMS
dc.subject
MARKET ECONOMY
dc.subject
MERGERS
dc.subject
MIDDLE INCOME COUNTRIES
dc.subject
MIXED ENTERPRISES
dc.subject
NET ASSETS
dc.subject
OPERATING EFFICIENCY
dc.subject
PRIVATE ENTERPRISES
dc.subject
PRIVATE OWNERSHIP
dc.subject
PRIVATE SECTOR
dc.subject
PRIVATIZATION
dc.subject
PRODUCTIVITY
dc.subject
PROFITABILITY
dc.subject
PUBLIC ENTERPRISES
dc.subject
PUBLIC EXPENDITURES
dc.subject
PUBLIC OWNERSHIP
dc.subject
PUBLIC SECTOR
dc.subject
PUBLIC SERVICES
dc.subject
RETIREMENT
dc.subject
SHAREHOLDERS
dc.subject
SHAREHOLDING
dc.subject
STATE BANKING
dc.subject
STATE ENTERPRISES
dc.subject
STATE OWNERSHIP
dc.subject
TRADING
dc.subject
TRANSITION ECONOMIES
dc.subject
TRANSPORT
dc.subject
UNEMPLOYMENT INSURANCE
dc.subject
VOUCHER PRIVATIZATION PRIVATIZATION
dc.subject
COMPETITIVENESS
dc.subject
FINANCIAL PERFORMANCE INDICATORS
dc.subject
REVENUE SOURCES
dc.subject
TAX COLLECTION
dc.subject
UNEMPLOYMENT
dc.subject
UNEMPLOYMENT LEVELS
dc.subject
INCOME DISTRIBUTION
dc.subject
WEALTH
dc.subject
GOVERNMENT COMMITMENTS
dc.subject
PUBLIC AWARENESS
dc.subject
PUBLIC CONSULTATION
dc.subject
BARRIERS TO ENTRY
dc.subject
FINANCIAL SECTOR REFORM
dc.subject
BANKING SYSTEMS
dc.subject
REGULATORY FRAMEWORK
dc.subject
PRIVATE OWNERSHIP
dc.subject
ENVIRONMENTAL MITIGATION
dc.subject
SOCIAL EFFECTS OF PROJECTS
dc.title
Privatization in Competitive Sectors: The Record to Date
en
okr.doctype
Publications & Research :: Policy Research Working Paper
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2002/06/1953633/privatization-competitive-sectors-record-date
okr.globalpractice
Social, Urban, Rural and Resilience
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Governance
okr.globalpractice
Finance and Markets
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/1813-9450-2860
okr.identifier.externaldocumentum
000094946_02072209183311
okr.identifier.internaldocumentum
1953633
okr.identifier.report
WPS2860
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2002/08/02/000094946_02072209183311/Rendered/PDF/multi0page.pdf
en
okr.sector
Finance :: General finance sector
okr.topic
Finance and Financial Sector Development :: Non Bank Financial Institutions
okr.topic
Banks and Banking Reform
okr.topic
International Economics and Trade :: Trade Finance and Investment
okr.topic
Macroeconomics and Economic Growth :: Economic Systems
okr.topic
Financial Crisis Management and Restructuring
okr.topic
Urban Development :: Municipal Financial Management
okr.unit
Off of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume
1

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