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The Privatisation of Public Assets as an Economic Policy Instrument: Private versus Public Ownership of Companies – the Practical Implementation of Privatisation Projects and Economic Policy Conclusions

  • Michael Böheim

    (WIFO)

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    The third part of WIFO's series of articles on privatisation focuses on the practical implementation of privatisation projects and provides a summary of economic policy conclusions. In the long run privatisation projects can only be economically successful and socially and politically accepted in competitive markets. A government willing to privatise faces the challenge to create the necessary conditions for viable competition ex ante and also to guarantee the latter ex post. Prior to privatisation liberalisation measures have to open the market to competition. These measures have to be accompanied by corresponding regulation and competition policies so that a well-functioning and sustainable competition can be established. At the social and political level the acceptance of privatisation projects can be improved via "de-ideologisation", transparency and the illustration of potential trade-offs.

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    File URL: http://www.wifo.ac.at/wwa/pubid/44294
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    Article provided by WIFO in its journal Quarterly.

    Volume (Year): 17 (2012)
    Issue (Month): 1 (May)
    Pages: 55-68

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    Handle: RePEc:wfo:wquart:y:2012:i:1:p:55-68
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    1. Anna Bottasso & Alessandro Sembenelli, 2004. "Does ownership affect firms’ efficiency? Panel data evidence on Italy," Empirical Economics, Springer, vol. 29(4), pages 769-786, December.
    2. Lars Jonung & Jaakko Kiander & Pentti Vartia, 2008. "The great financial crisis in Finland and Sweden - The dynamics of boom, bust and recovery, 1985-2000," European Economy - Economic Papers 350, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Hay, George A & Kelley, Daniel, 1974. "An Empirical Survey of Price Fixing Conspiracies," Journal of Law and Economics, University of Chicago Press, vol. 17(1), pages 13-38, April.
    4. Alberto Cavaliere, 2006. "Privatization and Efficiency: from Principals and Agents to Political Economy," Working Papers 2006.99, Fondazione Eni Enrico Mattei.
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