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From State to Market: A Survey of Empirical Studies on Privatization

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Listed author(s):
  • Jeffry M. Netter
  • William L. Megginson
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    Abstract

    This study surveys the literature examining the privatization of state-owned enterprises (SOEs) We review the history of privatization, the theoretical and empirical evidence on the relative performance of state owned and privately owned firms, the types of privatization, if and by how much privatization has improved the performance of former SOEs in non-transition and transition countries, how investors in privatizations have fared, and the impact of privatization on the development of capital markets and corporate governance. In most settings privatization "works" in that the firms become more efficient, more profitable, and financially healthier, and reward investors.

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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jel.39.2.321
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    Article provided by American Economic Association in its journal Journal of Economic Literature.

    Volume (Year): 39 (2001)
    Issue (Month): 2 (June)
    Pages: 321-389

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    Handle: RePEc:aea:jeclit:v:39:y:2001:i:2:p:321-389
    Note: DOI: 10.1257/jel.39.2.321
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    Keywords:

    Find related papers by JEL classification:

    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy

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