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International Handbook on Privatization
Privatization has dominated industrial restructuring programs since the 1980s and continues to do so. This authoritative and accessible Handbook considers all aspects of this key issue, including: the theory of privatization; privatization in transition, developed and developing economies; as well the economic regulation of privatized industries.
More Information
Critical Acclaim
Contributors
Contents
More Information
Privatization has dominated industrial restructuring programs since the 1980s and continues to do so. This authoritative and accessible Handbook considers all aspects of this key issue, including: the theory of privatization; privatization in transition, developed and developing economies; as well the economic regulation of privatized industries.
The studies in this volume, introduced by international experts in the field present evidence of the scope and effects of privatization, and consequently provide the basis for improving both policy formulation and implementation. However, they also emphasize that privatization is not an end in itself. It is argued that for privatization to be worthwhile and for lasting economic efficiency gains to be achieved, supporting reforms must accompany most privatization programs, particularly in the arenas of corporate governance and capital markets, product market competition, and state regulatory processes. Furthermore, several contributions demonstrate that the degree to which ownership and market liberalization can be usefully separated, and whether privatization without either competition or effective regulation is worthwhile, remain controversial issues.
Furnishing the reader with a comprehensive and lively discussion of privatization in theory and practice, this Handbook will be the essential source of information for researchers in the field, and for a wide-ranging audience including public policy makers and specialists, development experts and agencies, international banks, public policy and regulation economists, and management consultants.
The studies in this volume, introduced by international experts in the field present evidence of the scope and effects of privatization, and consequently provide the basis for improving both policy formulation and implementation. However, they also emphasize that privatization is not an end in itself. It is argued that for privatization to be worthwhile and for lasting economic efficiency gains to be achieved, supporting reforms must accompany most privatization programs, particularly in the arenas of corporate governance and capital markets, product market competition, and state regulatory processes. Furthermore, several contributions demonstrate that the degree to which ownership and market liberalization can be usefully separated, and whether privatization without either competition or effective regulation is worthwhile, remain controversial issues.
Furnishing the reader with a comprehensive and lively discussion of privatization in theory and practice, this Handbook will be the essential source of information for researchers in the field, and for a wide-ranging audience including public policy makers and specialists, development experts and agencies, international banks, public policy and regulation economists, and management consultants.
Critical Acclaim
‘The challenges of privatization are well described in this International Handbook. On the theoretical side, market efficiency gains are shown to be balanced with agency and market failure losses. Empirically, a wide range of case studies offer many lessons on best practices. The book should be invaluable both to practitioners and scholars.’
– Elizabeth Bailey, University of Pennsylvania, US
– Elizabeth Bailey, University of Pennsylvania, US
Contributors
Contributors: W. Baer, M. Baltowski, P. Bennell, A.E. Boardman, D. Bös, J.C.H. Chai, P. Cook, M.A. Crew, S. Estrin, I. Filatotchev, C. Graham, P. Hare, G.A. Hodge, C. Kirkpatrick, P.R. Kleindorfer, C. Laurin, I. Major, W.L. Megginson, M. Mejstrík, T. Mickiewicz, A. Muravyev, J.M. Netter, A. Ogus, D. Parker, M.D. Ramírez, C. Robinson, A. Rosevear, D. Saal, E. Schwella, A.R. Vining, T. Weyman-Jones, J. Willner
Contents
Contents:
Preface
1. Introduction
David Parker and David Saal
Part I: Privatization in Theory and Practice
2. History and Methods of Privatization
William L. Megginson and Jeffry M. Netter
3. Privatization: Analysing the Benefits
Colin Robinson
4. Privatization: A Sceptical Analysis
Johan Willner
5. Methods of Privatization
Cosmo Graham
Part II: Privatization in Developed Economies
6. Privatization in the European Union
David Parker
7. Privatization in North America
Anthony E. Boardman, Claude Laurin and Aidan R. Vining
8. Privatization: The Australian Experience
Graeme A. Hodge
9. Postal Privatization in the United States
Michael A. Crew and Paul R. Kleindorfer
Part III: Privatization in Developing Countries
10. Assessing the Impact of Privatization in Developing Countries
Paul Cook and Colin Kirkpatrick
11. The Privatization Experience of Brazil
Werner Baer
12. Privatization in China
Joseph C.H. Chai
13. Privatization in Mexico and Chile: A Critical Perspective
Miguel D. Ramírez
14. Privatization in South Africa
Erwin Schwella
15. Privatization in Sub-Sahara Africa
Paul Bennell
Part IV: Privatization in the Transition Economies
16. Privatization and Corporate Governance in Transition Economies: Theory and Concepts
Igor Filatotchev
17. Privatization in Russia
Paul Hare and Alexander Muravyev
18. Privatization and Corporate Governance in the Czech Republic
Michal Mejstrík
19. All Roads Lead to Outside Ownership: Polish Piecemeal Privatization
Thomasz Mickiewicz and Maciej Baltowski
20. Privatization in Hungary and its Aftermath
Iván Major
21. Privatization in Ukraine
Saul Estrin and Adam Rosevear
Part V: Regulating Privatized Industries
22. Regulation: Theory and Concepts
Dieter Bös
23. Regulating Prices and Profits
Thomas Weyman-Jones
24. Comparing Regulatory Systems
Anthony Ogus
25. Privatization and Regulation of Public Utilities: Problems and Challenges for Developing Economies
David Parker
26. Restructuring, Regulation and the Liberalization of Privatized Utilities in the UK
David Saal
Index
Preface
1. Introduction
David Parker and David Saal
Part I: Privatization in Theory and Practice
2. History and Methods of Privatization
William L. Megginson and Jeffry M. Netter
3. Privatization: Analysing the Benefits
Colin Robinson
4. Privatization: A Sceptical Analysis
Johan Willner
5. Methods of Privatization
Cosmo Graham
Part II: Privatization in Developed Economies
6. Privatization in the European Union
David Parker
7. Privatization in North America
Anthony E. Boardman, Claude Laurin and Aidan R. Vining
8. Privatization: The Australian Experience
Graeme A. Hodge
9. Postal Privatization in the United States
Michael A. Crew and Paul R. Kleindorfer
Part III: Privatization in Developing Countries
10. Assessing the Impact of Privatization in Developing Countries
Paul Cook and Colin Kirkpatrick
11. The Privatization Experience of Brazil
Werner Baer
12. Privatization in China
Joseph C.H. Chai
13. Privatization in Mexico and Chile: A Critical Perspective
Miguel D. Ramírez
14. Privatization in South Africa
Erwin Schwella
15. Privatization in Sub-Sahara Africa
Paul Bennell
Part IV: Privatization in the Transition Economies
16. Privatization and Corporate Governance in Transition Economies: Theory and Concepts
Igor Filatotchev
17. Privatization in Russia
Paul Hare and Alexander Muravyev
18. Privatization and Corporate Governance in the Czech Republic
Michal Mejstrík
19. All Roads Lead to Outside Ownership: Polish Piecemeal Privatization
Thomasz Mickiewicz and Maciej Baltowski
20. Privatization in Hungary and its Aftermath
Iván Major
21. Privatization in Ukraine
Saul Estrin and Adam Rosevear
Part V: Regulating Privatized Industries
22. Regulation: Theory and Concepts
Dieter Bös
23. Regulating Prices and Profits
Thomas Weyman-Jones
24. Comparing Regulatory Systems
Anthony Ogus
25. Privatization and Regulation of Public Utilities: Problems and Challenges for Developing Economies
David Parker
26. Restructuring, Regulation and the Liberalization of Privatized Utilities in the UK
David Saal
Index
