The literature on privatization
The privatization literature focuses on three related areas: productive efficiency, the government budget, and privatization techniques. Where competitive product and capital markets exist, privatization is likely to improve productive efficiency. Such improvement makes possible fiscal gains, which may also be derived from reductions in government largess. These conclusions are weakly supported by an empirical literature that is often plagued by ambiguous results. The techniques literature provides policy guidelines for achieving the maximum benefits from privatization under a variety of different economic and political circumstances. Despite speculation that privatization aids capital market development, little has been done to support these claims.
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- Roland, G., 1992.
"The Political Economy of Restructuring and Privatization in Eastern Europe,"
9218, Universite Libre de Bruxelles - C.E.M.E..
- Roland, Gerard, 1993. "The political economy of restructuring and privatization in Eastern Europe," European Economic Review, Elsevier, vol. 37(2-3), pages 533-540, April.
- Bos, Dieter, 1987. "Privatization of public enterprises," European Economic Review, Elsevier, vol. 31(1-2), pages 352-360.
- Leland Gerson Neuberg, 1977. "Two Issues in the Municipal Ownership of Electric Power Distribution," Bell Journal of Economics, The RAND Corporation, vol. 8(1), pages 303-323, Spring.
- Shleifer, Andrei & Vishny, Robert W., 1989. "Management entrenchment : The case of manager-specific investments," Journal of Financial Economics, Elsevier, vol. 25(1), pages 123-139, November.
- Funkhouser, Richard & MacAvoy, Paul W., 1979. "A sample of observations on comparative prices in public and private enterprises," Journal of Public Economics, Elsevier, vol. 11(3), pages 353-368, June.
- Oliver D. Hart, 1983. "The Market Mechanism as an Incentive Scheme," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 366-382, Autumn.
- Aghion, Philippe, 1993. "Economic reform in Eastern Europe : Can theory help?," European Economic Review, Elsevier, vol. 37(2-3), pages 525-532, April.
- 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 403-52, June.
- Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, june. pag.
- Fama, Eugene F. & Jensen, Michael C., 1985. "Organizational forms and investment decisions," Journal of Financial Economics, Elsevier, vol. 14(1), pages 101-119, March.
- Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
- Wruck, Karen Hopper, 1990. "Financial distress, reorganization, and organizational efficiency," Journal of Financial Economics, Elsevier, vol. 27(2), pages 419-444, October.
- Alchian, Armen A & Demsetz, Harold, 1972.
"Production , Information Costs, and Economic Organization,"
American Economic Review,
American Economic Association, vol. 62(5), pages 777-95, December.
- Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
- Murrell Peter & Wang Yijiang, 1993. "When Privatization Should Be Delayed: The Effect of Communist Legacies on Organizational and Institutional Reforms," Journal of Comparative Economics, Elsevier, vol. 17(2), pages 385-406, June.
- Meyer, Robert A, 1975. "Publicly Owned Versus Privately Owned Utilities: A Policy Choice," The Review of Economics and Statistics, MIT Press, vol. 57(4), pages 391-99, November.
- Arrow, Kenneth J., 2005. "Agency and the market," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 2, volume 3, chapter 23, pages 1183-1195 Elsevier.
- De Fraja, Giovanni, 1993. "Productive efficiency in public and private firms," Journal of Public Economics, Elsevier, vol. 50(1), pages 15-30, January.
- Vining, Aidan R & Boardman, Anthony E, 1992. "Ownership versus Competition: Efficiency in Public Enterprise," Public Choice, Springer, vol. 73(2), pages 205-39, March.
- Yotopoulos, Pan A., 1989. "The (rip) tide of privatization: Lessons from Chile," World Development, Elsevier, vol. 17(5), pages 683-702, May.
- John R. Chamberlin & John E. Jackson, 1987. "Privatization as institutional choice," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 6(4), pages 586-611.
- Heller, Peter S. & Schiller, Christian, 1989. "The fiscal impact of privatization, with some examples from Arab countries," World Development, Elsevier, vol. 17(5), pages 757-767, May.
- Sanford J. Grossman & Oliver D. Hart, 1980. "Takeover Bids, the Free-Rider Problem, and the Theory of the Corporation," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 42-64, Spring.
- Pint, Ellen M., 1991. "Nationalization vs. regulation of monopolies : The effects of ownership on efficiency," Journal of Public Economics, Elsevier, vol. 44(2), pages 131-164, March.
- Peter Diamond, 1993. "Privatization of Social Security: Lessons from Chile," NBER Working Papers 4510, National Bureau of Economic Research, Inc.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Frech, H E, III, 1976. "The Property Rights Theory of the Firm: Empirical Results from a Natural Experiment," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 143-52, February.
- David E. M. Sappington & Joseph E. Stiglitz, 1987.
"Privatization, Information and Incentives,"
NBER Working Papers
2196, National Bureau of Economic Research, Inc.
- Hill, Hal, 1982. "State enterprises in a competitive industry: An Indonesian case study," World Development, Elsevier, vol. 10(11), pages 1015-1023, November.
- Kay, J A & Thompson, D J, 1986. "Privatisation: A Policy in Search of a Rationale," Economic Journal, Royal Economic Society, vol. 96(381), pages 18-32, March.
- Domberger, Simon & Piggott, John, 1986. "Privatization Policies and Public Enterprise: A Survey," The Economic Record, The Economic Society of Australia, vol. 62(177), pages 145-62, June.
- Glade, William, 1989. "Privatization in rent-seeking societies," World Development, Elsevier, vol. 17(5), pages 673-682, May.
- Caves, Douglas W & Christensen, Laurits R, 1980. "The Relative Efficiency of Public and Private Firms in a Competitive Environment: The Case of Canadian Railroads," Journal of Political Economy, University of Chicago Press, vol. 88(5), pages 958-76, October.
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