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Privatisation of Public Property as an Economic Policy Tool: Public versus Private Ownership of Enterprises – Empirical Evidence and Locational Considerations

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  • Michael Böheim

    (WIFO)

Abstract

With a few exceptions pinpointed in the public services field where it has not been possible to set up an effective competition regime, international empirical evidence demonstrates that enterprises which have attracted investors from the private economy can (at the least) be run more efficiently than when operating under the sole influence of the state and are therefore basically open to privatisation. Reflecting this finding, an evaluation of the privatisation of the three major state-held stakes in Austrian industries (Böhler-Uddeholm AG, OMV AG and voestalpine AG) arrives at a positive result from an overall economic point of view.

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  • Michael Böheim, 2011. "Privatisation of Public Property as an Economic Policy Tool: Public versus Private Ownership of Enterprises – Empirical Evidence and Locational Considerations," WIFO Monatsberichte (monthly reports), WIFO, vol. 84(10), pages 675-686, October.
  • Handle: RePEc:wfo:monber:y:2011:i:10:p:675-686
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    References listed on IDEAS

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    1. Wallsten, Scott, 2005. "Returning to Victorian Competition, Ownership, and Regulation: An Empirical Study of European Telecommunications at the Turn of the Twentieth Century," The Journal of Economic History, Cambridge University Press, vol. 65(03), pages 693-722, September.
    2. Vining, Aidan R & Boardman, Anthony E, 1992. "Ownership versus Competition: Efficiency in Public Enterprise," Public Choice, Springer, vol. 73(2), pages 205-239, March.
    3. Patrick W. Schmitz, 2000. "Partial Privatization and Incomplete Contracts: The Proper Scope of Government Reconsidered," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 57(4), pages 394-411, August.
    4. Ros, Agustin J, 1999. "Does Ownership or Competition Matter? The Effects of Telecommunications Reform on Network Expansion and Efficiency," Journal of Regulatory Economics, Springer, vol. 15(1), pages 65-92, January.
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