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Publicly subsidized privatization: a simple model of dysfunctional privatization

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  • Tanweer Akram

Abstract

This paper points out the limitations of the privatization programme in Bangladesh, with particular reference to the debt-default status of privatized firms. First, detailed analysis of the debt-default status of privatized firms is presented using data obtained from the central bank. Secondly, a simple model of dysfunctional privatization is constructed to show that perverse outcomes of privatization are possible. The experience of developing economies, such as Bangladesh, lends credence to the results of this model. Finally, various types of privatization are classified following Bhagwati's (1982) typology of directly unproductive profit-seeking activities.

Suggested Citation

  • Tanweer Akram, 2000. "Publicly subsidized privatization: a simple model of dysfunctional privatization," Applied Economics, Taylor & Francis Journals, vol. 32(13), pages 1689-1699.
    • Handle: RePEc:taf:applec:v:32:y:2000:i:13:p:1689-1699
    DOI: 10.1080/000368400421039
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    References listed on IDEAS

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    1. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
    2. Bhagwati, Jagdish N, 1982. "Directly Unproductive, Profit-seeking (DUP) Activities," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 988-1002, October.
    3. Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W, 1996. "A Theory of Privatisation," Economic Journal, Royal Economic Society, vol. 106(435), pages 309-319, March.
    4. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
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    1. Alberto Chong & Florencio de, 2003. "The Truth about Privatization in Latin America," Yale School of Management Working Papers ysm436, Yale School of Management.
    2. M. Islam & Ali Farazmand, 2008. "Perceptions of Civil Servants Toward Privatization and Development: A New Exploratory Study," Public Organization Review, Springer, vol. 8(1), pages 37-52, March.

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