An Evaluation of Privatisations in Australian Banking and Insurance
AbstractIn the 1990s Australian governments, both federal and state, committed themselves to a policy of microeconomic reform of which privatisation of key government assets was a major component. Government owned banks and insurance offices were amongst the first institutions to be sold off. The results of this policy have been both complex and in cases unforeseen. Few of these privatised financial firms are in existence today. An information cost framework is used to evaluate the experience of privatised banks and insurers. This approach points to a dynamic process of organisational change within the financial sector that has influenced the outcome of the privatisation process in the financial sector.
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Bibliographic InfoPaper provided by Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance in its series Economics Series with number 2006_09.
Length: 26 pages
Date of creation: 23 Oct 2006
Date of revision:
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privatisation; financial markets; banking and insurance; deregulation; information costs; organisational change;
Find related papers by JEL classification:
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
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