Bad politics makes bad policy: the case of Queensland’s asset sales program
On 2 June 2009, the Queensland government announced a program of asset sales projected to realise $15 billion. In this paper, the public case for privatisation put forward by the Queensland government is case is shown to be wrong and, in important respects, deliberately misleading. It is argued that the presentation of a spurious case for privatisation has contributed to poor policy decisions regarding the choice of assets to be sold, the failure to restructure the rail industry to promote competiton, and the adoption of inferior methods for sale.
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- Grant, Simon & Quiggin, John, 2004.
"The risk premium for equity: implications for resource allocation, welfare and policy,"
Risk and Sustainable Management Group Working Papers
151167, University of Queensland, School of Economics.
- Simon Grant & John Quiggin, 2006. "The Risk Premium For Equity: Implications For Resource Allocation, Welfare And Policy ," Australian Economic Papers, Wiley Blackwell, vol. 45(3), pages 253-268, 09.
- Simon Grant & John Quiggin, 2004. "The risk premium for equity: implications for resource allocation, welfare and policy," Risk & Uncertainty Working Papers WPR04_8, Risk and Sustainable Management Group, University of Queensland.
- Stephen King & Rohan Pitchford, 1998. "Privatisation in Australia: Understanding the Incentives in Public and Private Firms," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 31(4), pages 313-328.
- R. Mehra & E. Prescott, 2010.
"The equity premium: a puzzle,"
Levine's Working Paper Archive
1401, David K. Levine.
- Simon Grant & John Quiggin, 2003. "Public Investment and the Risk Premium for Equity," Economica, London School of Economics and Political Science, vol. 70(277), pages 1-18, February.
- John Quiggin, 1995. "Does Privatisation Pay?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 28(2), pages 23-42.
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