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Privatization in Development : Some Lessons From Experience / Bourguignon, Francois
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Bourguignon, Francois
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Bank Privatization.
- Bankruptcy and Resolution of Financial Distress.
- Banks and Banking Reform.
- Budget constraints.
- Capitalization.
- Economics.
- Economies in transition.
- Emerging Markets.
- Employment.
- Externalities.
- Finance and Financial Sector Development.
- Financial performance.
- Fixed costs.
- Infrastructure Economics and Finance.
- Infrastructure Regulation.
- Investment spending.
- Laws.
- Local governments.
- Municipalities.
- Operating efficiency.
- Private Sector Development.
- Privatization.
- Productivity.
- Profitability.
- Public enterprises.
- Regional development banks.
- Transition economies.
- Local Subjects:
- Bank Privatization.
- Bankruptcy and Resolution of Financial Distress.
- Banks and Banking Reform.
- Budget constraints.
- Capitalization.
- Economics.
- Economies in transition.
- Emerging Markets.
- Employment.
- Externalities.
- Finance and Financial Sector Development.
- Financial performance.
- Fixed costs.
- Infrastructure Economics and Finance.
- Infrastructure Regulation.
- Investment spending.
- Laws.
- Local governments.
- Municipalities.
- Operating efficiency.
- Private Sector Development.
- Privatization.
- Productivity.
- Profitability.
- Public enterprises.
- Regional development banks.
- Transition economies.
- Physical Description:
- 1 online resource (34 pages)
- Other Title:
- Privatization In Development
- Place of Publication:
- Washington, D.C., The World Bank, 2009
- System Details:
- data file
- Summary:
- This paper briefly reviews the main theories of state versus private ownership and empirical evidence on the impact of privatization in developing countries (including transition economies). The paper draws some lessons for policy and offers some suggestions on how to assess privatization, at least in countries where there is still scope for it. The paper suggests that although understanding of the efficiency gains of privatization has increased significantly in recent years, there is an important area about which little is known: the distributional effects of privatization. Whether arguing from the standpoint of welfare economics or political economy, distributional effects are critical to the outcome, or the perceived outcome, of privatization. Thus, there is a need to fully evaluate the ex ante and ex post impacts of privatization, the most effective types of regulation and ownership regimes, and the way in which losers, when there are any, can be compensated. This is a need that must be met by academics and development agencies, including the World Bank and regional development banks.
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