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Enterprise performance, privatization and the role of ownership in Bulgaria

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  • Tatahi, Motasam
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    Abstract

    Abstract In both economically developed and developing countries, privatisation, budget austerity measures and market liberalisations have become key aspects of structural reform programs in the last three decades. These three recommended policies were parts of strong revival of classical and new-classical school of thought since the middle of 70s. Such programs aim to achieve higher microeconomic efficiency and foster economic growth, whilst also aspiring to reduce public sector borrowing requirements through the elimination of unnecessary subsidies. For firms to achieve superior performance a change in ownership from public (state ownership) to private has been recommended as a vital condition. To assess the ownership role, the economic performances of private, public and mixed enterprises in Bulgaria is compared through the use of factor analysis method. The extracted factors, using data of two years, 1998 and 2000, do not pick ownership as a key performance factor.

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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 27054.

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    Date of creation: 25 Oct 2010
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    Handle: RePEc:pra:mprapa:27054
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    Keywords: Bulgaria; efficiency; performance measure; privatization; factor analysis; public and private relationship; role of ownership;

    Find related papers by JEL classification:

    • L3 - Industrial Organization - - Nonprofit Organizations and Public Enterprise
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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    12. Smith, Stephen C. & Cin, Beom-Cheol & Vodopivec, Milan, 1997. "Privatization Incidence, Ownership Forms, and Firm Performance: Evidence from Slovenia," Journal of Comparative Economics, Elsevier, vol. 25(2), pages 158-179, October.
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    14. repec:reg:rpubli:398 is not listed on IDEAS
    15. Eckel, Catherine & Eckel, Doug & Singal, Vijay, 1997. "Privatization and efficiency: Industry effects of the sale of British Airways," Journal of Financial Economics, Elsevier, vol. 43(2), pages 275-298, February.
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