Privatization, Social Impact, and Social Safety Nets
AbstractPrivatization promotes economic efficiency and growth, thereby reinforcing macroeconomic adjustment. In the short run, however, it can lead to job losses and wage cuts for workers and higher prices for consumers. This paper discusses these impacts and the fiscal implications of privatization. It then reviews various methods of privatization and finds that public sales and auctions can have more negative effects on workers but maximize the government’s revenue gains. Policymakers’ options for mitigating the social impact of privatization are surveyed, and experiences under adjustment programs reviewed.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 99/68.
Date of creation: 01 May 1999
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Postal: International Monetary Fund, Washington, DC USA
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- Buffie, Edward F., 2009. "Public sector layoffs, severance pay, and inflation in the small open economy," Journal of International Money and Finance, Elsevier, vol. 28(6), pages 987-1005, October.
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