The British privatisation programme: a long term perspective
The British privatisations were concentrated on the infrastructure industries of transport, communications and energy. It is important to assess the efficiency impact in a long-term context. The Milan study goes some way towards this but even better is to compare different countries of the Western world over the whole period since 1945. A distinction is made here between 1945-73 and the 1973-95 period, which followed the oil shocks and ushered in a general phase of de-regulation and privatisation. It is suggested that factors like the reconstruction after the Second World War, the process of catch-up and convergence in technologies and the resource endowments of different countries had much bigger effects on productivity levels and growth rates in the infrastructure industries than the shift from nationalised to privatised regimes. This article also, more briefly, critically evaluates two other elements of the Milan study, the treatment of excess profits and of the move to more differentiated price structures.
|Date of creation:||01 Feb 2006|
|Contact details of provider:|| Postal: Via Conservatorio 7, I-20122 Milan - Italy|
Phone: +39 02 50321522
Fax: +39 02 50321505
Web page: http://www.demm.unimi.it
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- James Foreman-Peck & Dorothy Manning, 1988. "How well is BT performing? An international comparison of telecommunications total factor productivity," Fiscal Studies, Institute for Fiscal Studies, vol. 9(3), pages 54-67, August.
- Broadberry, Stephen N., 1998. "How Did the United States and Germany Overtake Britian? A Sectoral Analysis of Comparative Productivity Levels, 1870–1990," The Journal of Economic History, Cambridge University Press, vol. 58(02), pages 375-407, June.
- Massimo Florio, 2002. "A state without ownership: the welfare impact of British Privatisations 1979-1997," Departmental Working Papers 2002-24, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Broadberry, Stephen & Ghosal, Sayantan, 2002. "From the Counting House to the Modern Office: Explaining Anglo-American Productivity Differences in Services, 1870–1990," The Journal of Economic History, Cambridge University Press, vol. 62(04), pages 967-998, December.
- Foreman-Peck, James & Waterson, Michael, 1985. "The Comparative Efficiency of Public and Private Enterprise in Britain: Electricity Generation between the World Wars," Economic Journal, Royal Economic Society, vol. 95(380a), pages 83-95, Supplemen.
When requesting a correction, please mention this item's handle: RePEc:mil:wpdepa:2006-07. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (DEMM Working Papers)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.