Privatization in CompetitiveSectors: The Record to Date

Kikeri, Sunita ; Nellis, John

World Bank, Washington, D.C.

关键词: ACCOUNTING;    BANKING SYSTEM;    BANKRUPTCY;    CAPITAL MARKETS;    COMMERCIAL BANKS;   

DOI  :  10.1596/1813-9450-2860
RP-ID  :  WPS2860

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The paper reviews recent evidence on theimpact of privatization. It focuses on traditionalprivatization efforts involving firms in competitivemarkets. It shows that privatization improves firms'financial and operating performance, yields positive fiscaland macroeconomic benefits (proceeds are saved rather thanspent, transfers decline, and governments start collectingtaxes from privatized firms), and improves overall welfare.The popular view that privatization always leads to layoffsis unfounded. While highly protected firms have seensignificant declines in net employment, competitive firmsgenerally experienced slight declines if any.Privatization's effects on wealth and incomedistribution have only recently been receiving the attentionof analysts, and research is just getting underway. Thepaper highlights the conditions for successfulprivatization: strong political commitment combined withwider public understanding of and support for the process;creation of competitive markets through removal of entry andexit barriers, financial sector reforms that createcommercially oriented banking systems, effective regulatoryframeworks that reinforce the benefits of private ownership;transparency in the privatization process; and measures tomitigate adverse social and environmental effects.