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State owned enterprises, privatization and the public interest: evidence of S.O.E. performance in the Greek manufacturing


  • Halkos, George


In this study a brief description of the policy options for the control of public enterprise under different market structures is presented. A critical examination of the drawbacks of some similar studies in the international literature is also endeavored. Moreover, using a number of suggested financial efficiency ratios a measurement of the efficiency of the state controlled enterprises for the time period 1978-1991 is attempted. The main conclusions drawn from this study are, that public owned enterprises exhibit continuously lower efficiency on average compared to the average efficiency of the industry sectors in which they belong for all the period of the study, competition contributes positively in increasing efficiency, but it is rather considered as a necessary condition than a sufficient condition for the attainment of the overall economic efficiency. Conversely, the ownership form appears to be of critical importance.

Suggested Citation

  • Halkos, George, 2002. "State owned enterprises, privatization and the public interest: evidence of S.O.E. performance in the Greek manufacturing," MPRA Paper 39604, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:39604

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    References listed on IDEAS

    1. Caves, Richard E., 1990. "Lessons from privatization in Britain : State enterprise behavior, public choice, and corporate governance," Journal of Economic Behavior & Organization, Elsevier, vol. 13(2), pages 145-169, March.
    2. Domberger, Simon & Piggott, John, 1986. "Privatization Policies and Public Enterprise: A Survey," The Economic Record, The Economic Society of Australia, vol. 62(177), pages 145-162, June.
    3. Forsyth, P J & Hocking, R D, 1980. "Property Rights and Efficiency in a Regulated Environment: The Case of Australian Airlines," The Economic Record, The Economic Society of Australia, vol. 56(153), pages 182-185, June.
    4. Newbery, David M & Pollitt, Michael G, 1997. "The Restructuring and Privatization of Britain's CEGB--Was It Worth It?," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 269-303, September.
    5. Kotsogiannis, Christos & Makris, Miltiadis, 2002. "On production efficiency in federal systems," Economics Letters, Elsevier, vol. 76(2), pages 281-287, July.
    6. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, January.
    7. Keith Hartley & David Parker & Stephen Martin, 1991. "Organisational Status, Ownership and Productivity," Fiscal Studies, Institute for Fiscal Studies, vol. 12(2), pages 46-60, May.
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    More about this item


    Privatization; State owned enterprises; Greek manufacturing;

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • A10 - General Economics and Teaching - - General Economics - - - General


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