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The Privatisation of Public Assets as an Economic Policy Instrument: Private versus Public Ownership of Companies – the Practical Implementation of Privatisation Projects and Economic Policy Conclusions

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  • Michael Böheim

    (WIFO)

Abstract

The third part of WIFO's series of articles on privatisation focuses on the practical implementation of privatisation projects and provides a summary of economic policy conclusions. In the long run privatisation projects can only be economically successful and socially and politically accepted in competitive markets. A government willing to privatise faces the challenge to create the necessary conditions for viable competition ex ante and also to guarantee the latter ex post. Prior to privatisation liberalisation measures have to open the market to competition. These measures have to be accompanied by corresponding regulation and competition policies so that a well-functioning and sustainable competition can be established. At the social and political level the acceptance of privatisation projects can be improved via "de-ideologisation", transparency and the illustration of potential trade-offs.

Suggested Citation

  • Michael Böheim, 2012. "The Privatisation of Public Assets as an Economic Policy Instrument: Private versus Public Ownership of Companies – the Practical Implementation of Privatisation Projects and Economic Policy Conclusio," Austrian Economic Quarterly, WIFO, vol. 17(1), pages 55-68, May.
    • Handle: RePEc:wfo:wquart:y:2012:i:1:p:55-68
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    References listed on IDEAS

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