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A note on privatizations and public sector net worth: what (not) to learn from the UK experience

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  • Massimo FLORIO

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Abstract

The paper shows that privatisation can contribute to the decrease of net public debt, but at the same time can decrease the Public Sector Net Worth. This is defined as the difference between public sector assets and liabilities. The UK in the 1980s and 1990s is an example of parallelism between divestiture and worsening of the PSNW. The paper is divided into four short sections. In the first we refer to the general concept of Public Sector Net Worth (PSNW). In the second section we present some data for the UK experience of privatization. In the third section we develop a simple conceptual model that shows which variables are at stake and how they are related. We conclude with some implications for economic policy

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File URL: http://wp.demm.unimi.it/tl_files/wp/2007/DEMM-2007_018wp.pdf
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Bibliographic Info

Paper provided by Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano in its series Departmental Working Papers with number 2007-18.

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Date of creation: 12 May 2007
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Handle: RePEc:mil:wpdepa:2007-18

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Related research

Keywords: Privatization; public sector net worth; public debt;

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Cited by:
  1. Chiara Del Bo & Massimo Florio & Silvia Vignetti & Emanuela Sirtori, 2011. "Additionality and regional development: are EU Structural Funds complements or substitutes of national Public Finance?," Working Papers 201101, Centre for Industrial Studies (CSIL).

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