Overview

Has privatisation worked in practice? Only recently has sufficient empirical evidence become available to answer this question. Earlier studies of privatization have, by necessity, been largely concerned with a theoretical analysis of privatization policy. The Political Economy of Privatization draws together substantial evidence and analysis of the experience of privatization programmes in practice over the last ten years. The authors assess the different means of implementing privatization policies and analyse the impact on the economy. The work is an international study of the extensive privatization of the public sector of the advanced industrial countries; the rapid marketization of the East European countries; and the pressures upon developing countries to adopt re-regulation and privatization as the route towards economic growth. The results demonstrate that, far from being a uniform process, privatization can take many forms - from wholesale denationalization to the contracting of competitive tendering. The book is divided into six parts: Part I examines the relationship between ownership and performance; Part II assesses the importance of market structure and regulation; Part III discusses privatization strategies within the public sector while Parts IV-VI, backed by individual country case studies, look at the experiences of different countries engaged in the contrasting approaches to privatization. The impact upon government, consumers, managers and employees is also explored and the much vaunted relationship between private ownership and efficiency is critically assessed.

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9780415086301

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`For a comprehensive balance-sheet on the flight from public ownership, specialists should refer to The Political Economy of Privatization.' - New Statesman & Society

Author Information

Thomas Clarke is Professor of Coporate Governance at Leeds Buusiness School, Leeds Metropolitan University. Christos Pitelis is the Barclays Bank Lecturer in Industrial Organization & Corporate Strategy at the Judge Institute of Management Studies and Official Fellow in Economics at Queen's College ,University of Cambridge.

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