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A Theoretical Reexamination of Privatization: Assessing its Welfare Impacts

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  • Alvin Ang
  • Masatoshi Yamada

Abstract

Privatization has been one of the significant public policies adopted in the last two decades. Previous studies have focussed on efficacy gains at the firm and industry levels. This paper intends to reconsider the distributive impacts of privatization on the economy as a whole from a theoretical perspective. Specifically, it supposes an economy with two goods, two producers and two consumers, in which it is assumed that one of the consumers is not able to obtain one good that is regarded as a necessity. Since one basis of government intervention is to provide necessity to people who would not otherwise be able to obtain it, government intervention into production is assumed to satisfy this purpose. Using comparative statics, the paper analyzes how the welfare of two consumers is affected by this intervention, and shows that intervention can increase the welfare of some consumers and social welfare in general.

Suggested Citation

  • Alvin Ang & Masatoshi Yamada, 2007. "A Theoretical Reexamination of Privatization: Assessing its Welfare Impacts," Review of Development Economics, Wiley Blackwell, vol. 11(4), pages 723-736, November.
    • Handle: RePEc:bla:rdevec:v:11:y:2007:i:4:p:723-736
    DOI: 10.1111/j.1467-9361.2007.00420.x
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    References listed on IDEAS

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    1. Cook, Paul & Fabella, Raul V., 1997. "The Welfare and Political Economy Dimensions of Private vs State Enterprise," General Discussion Papers 30561, University of Manchester, Institute for Development Policy and Management (IDPM).
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