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La privatisation tient-elle ses promesses?

Author

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  • Boubakri, Narjess

    (École des Hautes Études Commerciales)

  • Cosset, Jean-Claude

    (Faculté des sciences de l’administration, Université Laval)

Abstract

Privatization has turned into a major phenomenon for the developed world as well as the developing world. However, few studies have examined the privatization phenomenon in developing countries. This paper surveys the literature on privatization with a particular emphasis on the developing world experience. It also describes the way privatization is implemented, the objectives followed by governments launching privatization programs as well as the observed patterns of these programs. Finally, the paper summarizes the empirical evidence on the financial and operating performance of newly privatized firms. La littérature sur la privatisation a récemment proliféré à la suite de l’essor considérable qu’a connu ce phénomène de par le monde. Cependant, la plupart des études ont porté sur l’expérience des pays industrialisés. Tout en passant brièvement en revue ces études, cet article met l’accent sur celles qui se sont intéressées aux pays en développement. Plus précisément, l’article décrit le phénomène de privatisation, les objectifs poursuivis par les gouvernements qui ont privatisé, les caractéristiques des programmes de privatisation et résume l’évidence empirique sur la performance financière et d’opération des entreprises nouvellement privatisées.

Suggested Citation

  • Boubakri, Narjess & Cosset, Jean-Claude, 1998. "La privatisation tient-elle ses promesses?," L'Actualité Economique, Société Canadienne de Science Economique, vol. 74(3), pages 363-380, septembre.
    • Handle: RePEc:ris:actuec:v:74:y:1998:i:3:p:363-380
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    References listed on IDEAS

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    1. Boardman, Anthony E & Vining, Aidan R, 1989. "Ownership and Performance in Competitive Environments: A Comparison of the Performance of Private, Mixed, and State-Owned Enterprises," Journal of Law and Economics, University of Chicago Press, vol. 32(1), pages 1-33, April.
    2. Attiat F. Ott & Keith Hartley (ed.), 1991. "Privatization And Economic Efficiency," Books, Edward Elgar Publishing, number 345.
    3. Megginson, William L & Nash, Robert C & van Randenborgh, Matthias, 1994. "The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis," Journal of Finance, American Finance Association, vol. 49(2), pages 403-452, June.
    4. Narjess Boubakri & Jean-Claude Cosset, 1998. "The Financial and Operating Performance of Newly Privatized Firms: Evidence from Developing Countries," Journal of Finance, American Finance Association, vol. 53(3), pages 1081-1110, June.
    5. John Vickers & George Yarrow, 1991. "Economic Perspectives on Privatization," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 111-132, Spring.
    6. Vuylsteke, C., 1988. "Techniques Of Privatization Of State-Owned Enterprises -," Papers 88, World Bank - Technical Papers.
    7. Vernon-Wortzel, Heidi & Wortzel, Lawrence H., 1989. "Privatization: Not the only answer," World Development, Elsevier, vol. 17(5), pages 633-641, May.
    8. Dewenter, Kathryn L & Malatesta, Paul H, 1997. "Public Offerings of State-Owned and Privately-Owned Enterprises: An International Comparison," Journal of Finance, American Finance Association, vol. 52(4), pages 1659-1679, September.
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