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Privatization's impact on private productivity: the case of Brazilian iron ore

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James A. Schmitz, Jr.
Arilton Teixeira

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Abstract

A major motivation for the wave of privatizations of state-owned enterprises (SOEs) in the last twenty years was a belief that privatization would increase economic efficiency. There are now many studies showing most privatizations achieved this goal. Our theme is that the productivity gains from privatization are much more general and widespread than has typically been recognized in this literature. In assessing the productivity gains from privatization, the literature has only examined the productivity gains accruing at the privatized SOEs. But privatization may have significant impact on the private producers that often exist side-by-side with SOEs. In this paper we show that this was indeed the case when Brazil privatized its SOEs in the iron ore industry. That is, after their privatization, the iron ore SOEs dramatically increased their labor productivity, but so did the private iron ore companies in the industry.

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Paper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 337.

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Date of creation: 2004
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Publication status: Published in Review of Economic Dynamics
Handle: RePEc:fip:fedmsr:337

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Keywords: Iron industry and trade ; Privatization ; Labor productivity;

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  1. Davies, David G, 1971. "The Efficiency of Public versus Private Firms, The Case of Australia's Two Airlines," Journal of Law & Economics, University of Chicago Press, vol. 14(1), pages 149-65, April.
  2. Rafael La Porta & Florencio Lopezde-Silanes & Andrei Shleifer, 2000. "Government Ownership of Banks," NBER Working Papers 7620, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Coate, Stephen & Morris, Stephen, 1995. "On the Form of Transfers in Special Interests," Journal of Political Economy, University of Chicago Press, vol. 103(6), pages 1210-35, December. [Downloadable!] (restricted)
  4. Rafael La Porta & Florencio López-De-Silanes, 1999. "The Benefits Of Privatization: Evidence From Mexico," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1193-1242, November. [Downloadable!] (restricted)
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  5. SchmitzJr, James A., 2001. "Government production of investment goods and aggregate labor productivity," Journal of Monetary Economics, Elsevier, vol. 47(1), pages 163-187, February. [Downloadable!] (restricted)
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  6. A. Tarik Timur & Allen Ponak, 2002. "Labor Relations and Technological Change at Canadian Pacific Railway ," Journal of Labor Research, Transaction Publishers, vol. 23(4), pages 535-557, October. [Downloadable!] (restricted)
  7. William L. Megginson & Jeffry M. Netter, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June. [Downloadable!] (restricted)
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  1. Mark Aguiar & Guita Gopinath, 2007. "The Role of Interest Rates and Productivity Shocks in Emerging Market Fluctuations," Working Papers Central Bank of Chile 445, Central Bank of Chile. [Downloadable!]
  2. Pereira, Ricardo Antônio de Castro & Ferreira, Pedro Cavalcanti Gomes, 2006. "Impactos de Bem-estar da Privatização de Infra-estrutura," Economics Working Papers (Ensaios Economicos da EPGE) 633, Graduate School of Economics, Getulio Vargas Foundation (Brazil). [Downloadable!]
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  3. Mark Aguiar & Gita Gopinath, 2004. "Emerging market business cycles: the cycle is the trend," Working Papers 04-4, Federal Reserve Bank of Boston. [Downloadable!]
    Other versions:
  4. Harold L. Cole & Lee E. Ohanian & Alvaro Riascos & James A. Schmitz, Jr., 2004. "Latin America in the rearview mirror," Staff Report 351, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
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