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Privatisation
Kinds of Privatisation Selected AbstractsEDITORIAL:,EDUCATION FOR ALL' THROUGH PRIVATISATION?ECONOMIC AFFAIRS, Issue 4 2004James Tooley No abstract is available for this article. [source] FURTHER LESSONS FROM PRIVATISATIONECONOMIC AFFAIRS, Issue 3 2004Martin Ricketts Privatisation transfers assets from state to private ownership. However, this is not a sufficient action for competitive liberal markets to develop. Indeed, attempts by regulators to impose a structure on industries to promote competition actually inhibit the competitive process from determining the most efficient industrial structure. Privatised industries can still have their objectives determined through the political process. Thus, privatisation, to be fully effective, needs to be supported by other policies that will ensure that competition prevails and that the assets of the industries are used to meet the ends of consumers rather than those of politicians. [source] THE VALUE OF PRIVATISATION: THE CASE OF THE STATE BANK OF NSWECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 1 2001C.V. CURRIE First page of article [source] PRIVATISATION AND TIMING IN A MIXED OLIGOPOLY WITH BOTH FOREIGN AND DOMESTIC FIRMS,AUSTRALIAN ECONOMIC PAPERS, Issue 4 2009JOHN S. HEYWOOD This paper models a mixed oligopoly with both a domestic and a foreign private firm and examines the resulting timing in the quantity setting game. We demonstrate that with a single simultaneous pre-game delay stage, the resulting endogenous timing has either the public firm leading or the two private firms leading. An alternative characterisation of the pre-game stage results in the single timing in which the two private firms lead and the public firm follows. For all timings that emerge endogenously, we show that privatisation will always lower domestic welfare but its influence on global welfare is ambiguous. [source] Privatisation in Developing Countries: Performance and Ownership EffectsDEVELOPMENT POLICY REVIEW, Issue 3 2008Narjess Boubakri Over the last twenty years, privatisation, defined as the transfer of public assets (firms) from the government to private investors, has been on the reform agenda of more than 120 developing countries. The switch of ownership induces major changes in the corporate governance of firms, and in their incentives to restructure and improve efficiency and performance. This article evaluates this experience, focusing on its impact on corporate performance and governance, identifying several issues yet to be resolved. [source] Privatisation Results: Private Sector Participation in Water Services After 15 YearsDEVELOPMENT POLICY REVIEW, Issue 6 2006Naren Prasad Privatisation of public infrastructure has been the mantra of many development agencies since the late 1980s. Water supply is no exception, and various forms of private sector participation (PSP) have been tried in the water and sanitation sector. This article examines the results of these experiments. It suggests that PSP has had mixed results and that in several important respects the private sector seems to be no more efficient in delivering services than the public sector. Despite growing evidence of failures and increasing public pressure against it, privatisation in water and sanitation is still alive, however. Increasingly, it is being repackaged in new forms such as that of public-private partnership. [source] Privatisation and outsourcing in wartime: the humanitarian challengesDISASTERS, Issue 4 2006Gilles Carbonnier Abstract The tendency today to privatise many activities hitherto considered the exclusive preserve of the state has given rise to sharp debate. The specific nature of humanitarian emergencies elucidates in particularly stark contrast some of the main challenges connected to the privatisation and outsourcing of essential public services, such as the provision of drinking water and health care. Privatising the realms of defence and security, which are at the very core of state prerogative, raises several legal and humanitarian concerns. This article focuses on the roles and responsibilities of the various parties involved in armed conflicts, especially those of private companies engaged in security, intelligence and interrogation work, and in the provision of water supply and health services. It highlights the need for humanitarian and development actors to grasp better the potential risks and opportunities related to privatisation and outsourcing with a view to supplying effective protection and assistance to communities affected by war. [source] CENTRAL BANKS: FROM POLITICALLY INDEPENDENT TO MARKET-DEPENDENT INSTITUTIONSECONOMIC AFFAIRS, Issue 3 2009Pedro Schwartz Responses to the financial crisis are undermining the Chinese walls painfully built between monetary and fiscal authorities. Central banks and state treasuries are working side by side as lenders of last resort. Central banks are helping economic ministers with purchases of public debt and discounting of private paper. Regulation and control of financial institutions is now a political football. Central banks must be seen again as market-dependent institutions in a world of currency competition. Privatisation in law or in fact is back on the table. [source] The Proposed Privatisation of Queensland MotorwaysECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 1 2010Ross Guest L51; R42; R48 This article evaluates the proposed sale of the tolling rights on Queensland Motorways from an economic welfare perspective. Weighing against the sale are arguments about optimal risk allocation and network externalities. In contrast, there is a productive efficiency case in favour of the sale. Privatisation also raises questions about private monopoly power and the delivery of community service obligations, although these could be handled through contract specifications. The sale price is essentially a distributional issue. The back-of-the-envelope financial analysis here suggests that the mooted sale price of $3 billion would undervalue the asset and therefore transfer net worth from Queensland taxpayers to private investors. [source] The Global Marketplace and the Privatisation of SecurityIDS BULLETIN, Issue 2 2009Jeffrey Isima The privatisation of security in the age of globalisation raises crucial concerns for global governance and development. Key among these are the impacts on the structures of poverty and inequality, and how these twin development issues shape global security privatisation. Equally important are the structural limits on public policy imposed by the promotion of the market as a powerful alternative mechanism for security provisioning. These concerns have become more urgent as the dominant neoliberal security governance paradigm has tended to avoid questions relating to poverty, social inequality and the dire condition of those who live on the margins of state protection. This calls for innovative policy changes for transforming security institutions and practices in a way that promotes security, not just for state officials and the wealthy, but most importantly, for the poor. This article attempts to explore these core development concerns in relation to the increasing outsourcing of security to non-state actors and how state actors, as leading agents of development, can protect and promote the wellbeing of vulnerable populations within the global market order. [source] The Political Economy of Shock TherapyJOURNAL OF ECONOMIC SURVEYS, Issue 1 2002John Marangos The collapse of the centrally administered economies gave rise to a transition process towards economic systems based on market relations. Nevertheless, the transition process is not restricted to the economic field. The political and ideological aspects of the transformation are fundamental. As such an analysis of the shock therapy model requires the exposition of what I define the primary elements of the shock therapy model which are: 1) The body of economic analysis used by the shock therapy model. 2) What structure of society the shock therapy model desires to achieve? 3) The speed of the reforms. 4) The political structure consistent with the model. 5) The consistent ideological structure. After the identification of the primary elements of the shock therapy model the next'step'is to identify secondary elements, the desired changes with respect to: 1) 'Price liberalisation,stabilisation. 2) Privatisation. 3) Institutional structure. 4) 'Monetary policy. 5) Fiscal policy. 6) International trade and Foreign Aid. 7) 'Social policy. The analytical framework developed makes possible to understand the shock therapy model from a new and more enlightening perspective. We are better able to comprehend the complexities involved and the disagreements about the reform process. [source] Optimal Privatisation Using Qualifying Auctions,THE ECONOMIC JOURNAL, Issue 534 2009Jan Boone This article explores use of auctions for privatising public assets. In our model, a single ,insider' bidder possesses information about the asset's common value. Bidders are privately informed about their costs of exploiting the asset. Due to the insider's presence, uninformed bidders face a strong winner's curse in standard auctions. We show that the optimal mechanism discriminates against the informationally advantaged bidder. It can be implemented via a two-stage ,qualifying auction'. In the first stage, non-binding bids are submitted to determine who enters the second stage, which consists of a standard second-price auction augmented with a reserve price. [source] Privatisation and Innovation , Rhetoric and Reality: The Development of a Therapeutic Community PrisonTHE HOWARD JOURNAL OF CRIMINAL JUSTICE, Issue 2 2003Elaine Genders Privatisation is here to stay, albeit under the rhetorical guise of public-private partnership. All new prisons are now provided by means of competition. The recent issuing to potential contractors of the invitation to tender, and award of contract to Premier Prisons, for the DCMF (design, construction, management and finance) of the first purpose built therapeutic community prison HMP Dovegate (opened in November 2001) illustrates well some of the advantages and disadvantages inherent in the private as opposed to public mode of provision of innovative regimes. [source] In Government We Trust: Market Failure and the Delusions of Privatisation by Warwick Funnell, Robert Jupe and Jane AndrewAUSTRALIAN JOURNAL OF PUBLIC ADMINISTRATION, Issue 2 2009Richard Eccleston No abstract is available for this article. [source] Corporate Governance of Banks in Developing Economies: concepts and issuesCORPORATE GOVERNANCE, Issue 3 2004T. G. Arun This paper discusses the corporate governance of banking institutions in developing economies. This is an important issue given the essential role that banks play in the financial systems of developing economies and the widespread banking reforms that these economies have implemented. Based on a theoretical discussion of the corporate governance of banks, we suggest that banking reforms can only be fully implemented once a prudential regulatory system is in place. An integral part of banking reforms in developing economies is the privatisation of banks. We suggest that corporate governance reforms may be a prerequisite for the successful divestiture of government ownership. Furthermore, we also suggest that the increased competition resulting from the entrance of foreign banks may improve the corporate governance of developing-economy banks. [source] Privatisation in Developing Countries: Performance and Ownership EffectsDEVELOPMENT POLICY REVIEW, Issue 3 2008Narjess Boubakri Over the last twenty years, privatisation, defined as the transfer of public assets (firms) from the government to private investors, has been on the reform agenda of more than 120 developing countries. The switch of ownership induces major changes in the corporate governance of firms, and in their incentives to restructure and improve efficiency and performance. This article evaluates this experience, focusing on its impact on corporate performance and governance, identifying several issues yet to be resolved. [source] Privatisation Results: Private Sector Participation in Water Services After 15 YearsDEVELOPMENT POLICY REVIEW, Issue 6 2006Naren Prasad Privatisation of public infrastructure has been the mantra of many development agencies since the late 1980s. Water supply is no exception, and various forms of private sector participation (PSP) have been tried in the water and sanitation sector. This article examines the results of these experiments. It suggests that PSP has had mixed results and that in several important respects the private sector seems to be no more efficient in delivering services than the public sector. Despite growing evidence of failures and increasing public pressure against it, privatisation in water and sanitation is still alive, however. Increasingly, it is being repackaged in new forms such as that of public-private partnership. [source] Urban Service Partnerships, ,Street-Level Bureaucrats' and Environmental Sanitation in Kumasi and Accra, Ghana: Coping with Organisational Change in the Public BureaucracyDEVELOPMENT POLICY REVIEW, Issue 1 2006Richard Crook This is an empirical case study of ,street-level' officials in a classic ,regulatory' public agency: the Environmental Health Department in Kumasi and Accra, Ghana, where privatisation and contracting-out of sanitary services have imposed new ways of working on Environmental Health Officers. Both internal and external organisational relationships are analysed to explain the extent to which these officers have adapted to more ,client-oriented' ways of working. Their positive organizational culture is credited with much of the positive results achieved, but was not sufficient to cope with the negative impact of politically protected privatisations on the officials' ability to enforce standards. Nor could it entirely overcome the deficiencies in training and incentive structures which should have accompanied the changes in service delivery. [source] Policies, Interventions and Institutional Change in Pastoral Resource Management in Borana, Southern EthiopiaDEVELOPMENT POLICY REVIEW, Issue 4 2004Abdul B. Kamara The Borana rangelands of Southern Ethiopia are characterised by extensive livestock production under a communal land-use system that has evolved in response to variable rainfall and uncertain production conditions. However, the last two decades have witnessed an increasing privatisation of rangelands for crop production and private grazing. The results of a quantitative assessment are used to develop a framework for assessing the drivers of change and their long-term implications. It is concluded that certain national policies have resulted in conflicts of authority between traditional and formal systems, creating an avenue for spontaneous enclosures, associated conflicts and decreasing human welfare. [source] Unintended Consequences of Land Rights Reform: The Case of the 1998 Uganda Land ActDEVELOPMENT POLICY REVIEW, Issue 2 2004Diana Hunt Empirical studies of land rights privatisation have tended to underemphasise the unintended impacts of land rights reform relative to establishing whether the predicted impacts have occurred. This article, in reviewing some of the unintended consequences of the 1998 Uganda Land Act, draws attention to ways in which intended impacts may be undercut by lack of both consultation and foresight in anticipating responses to new legal provisions and by lack of adequate resourcing of the reform process. It also recognises that unintended outcomes may sometimes reflect appropriate adaptations of legal provisions at the local level, and briefly considers what light the Ugandan experience can throw on recent proposals for Normalisation of informal property rights in the Third World. [source] Changing household responses to drought in Tharaka, Kenya: vulnerability, persistence and challengeDISASTERS, Issue 2 2008Thomas A. Smucker Drought is a recurring challenge to the livelihoods of those living in Tharaka District, Kenya, situated in the semi-arid zone to the east of Mount Kenya, from the lowest slopes of the mountain to the banks of the Tana River. This part of Kenya has been marginal to the economic and political life of Kenya from the colonial period until the present day. A study of more than 30 years of change in how people in Tharaka cope with drought reveals resilience in the face of major macro-level transformations, which include privatisation of landownership, population growth, political decentralisation, increased conflict over natural resources, different market conditions, and environmental shifts. However, the study also shows troubling signs of increased use of drought responses that are incompatible with long-term agrarian livelihoods. Government policy needs to address the challenge of drought under these new macro conditions if sustainable human development is to be achieved. [source] Privatisation and outsourcing in wartime: the humanitarian challengesDISASTERS, Issue 4 2006Gilles Carbonnier Abstract The tendency today to privatise many activities hitherto considered the exclusive preserve of the state has given rise to sharp debate. The specific nature of humanitarian emergencies elucidates in particularly stark contrast some of the main challenges connected to the privatisation and outsourcing of essential public services, such as the provision of drinking water and health care. Privatising the realms of defence and security, which are at the very core of state prerogative, raises several legal and humanitarian concerns. This article focuses on the roles and responsibilities of the various parties involved in armed conflicts, especially those of private companies engaged in security, intelligence and interrogation work, and in the provision of water supply and health services. It highlights the need for humanitarian and development actors to grasp better the potential risks and opportunities related to privatisation and outsourcing with a view to supplying effective protection and assistance to communities affected by war. [source] POLICING A LIBERAL SOCIETYECONOMIC AFFAIRS, Issue 4 2007John Blundell Better policing can only come by devolving accountability and responsibility. This, combined with decentralisation and privatisation where possible, will create an environment where innovation flourishes and good practice is copied. There are many lessons from the USA which could usefully be adopted by the UK. [source] FURTHER LESSONS FROM PRIVATISATIONECONOMIC AFFAIRS, Issue 3 2004Martin Ricketts Privatisation transfers assets from state to private ownership. However, this is not a sufficient action for competitive liberal markets to develop. Indeed, attempts by regulators to impose a structure on industries to promote competition actually inhibit the competitive process from determining the most efficient industrial structure. Privatised industries can still have their objectives determined through the political process. Thus, privatisation, to be fully effective, needs to be supported by other policies that will ensure that competition prevails and that the assets of the industries are used to meet the ends of consumers rather than those of politicians. [source] Bad Politics Makes Bad Policy: The Case of Queensland's Asset Sales Programme,ECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 1 2010John Quiggin L33 On 2 June 2009, the Queensland Government announced a programme of asset sales projected to realise $15 billion. In this article, the public case for privatisation put forward by the Queensland Government 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 competition, and the adoption of inferior methods for sale. [source] Changes in per capita alcohol sales during the partial privatization of British Columbia's retail alcohol monopoly 2003,2008: a multi-level local area analysisADDICTION, Issue 11 2009Tim Stockwell ABSTRACT Aim To investigate the independent effects on liquor sales of an increase in (a) the density of liquor outlets and (b) the proportion of liquor stores in private rather than government ownership in British Columbia between 2003/4 and 2007/8. Design The British Columbia Liquor Distribution Branch provided data on litres of ethanol sold through different types of outlets in 89 local health areas of the province by beverage type. Multi-level regression models were used to examine the relationship between per capita alcohol sales and outlet densities for different types of liquor outlet after adjusting for potential confounding social, economic and demographic factors as well as spatial and temporal autocorrelation. Setting Liquor outlets in 89 local health areas of British Columbia, Canada. Findings The number of private stores per 10 000 residents was associated significantly and positively with per capita sales of ethanol in beer, coolers, spirits and wine, while the reverse held for government liquor stores. Significant positive effects were also identified for the number of bars and restaurants per head of population. The percentage of liquor stores in private versus government ownership was also associated significantly with per capita alcohol sales when controlling for density of liquor stores and of on-premise outlets (P < 0.01). Conclusion The trend towards privatisation of liquor outlets between 2003/04 and 2007/08 in British Columbia has contributed to increased per capita sales of alcohol and hence possibly also to increased alcohol-related harm. [source] The Learning Region between Pedagogy and EconomyEUROPEAN JOURNAL OF EDUCATION, Issue 3 2010ROBERTA PIAZZA Economic growth is stimulated through learning. In ,the learning economies' of those European regions that chose to develop their human and intellectual capital wisely, benefits have been visible. But this is a one-dimensional outlook in a multi-dimensional world. A ,Learning Region' is an entirely different entity, pooling and mobilising its resources from the community, its institutions, culture and heritage, and industry, to mention just a few, for the common, social, economic and ecological good. This article examines and critiques recent ideas and perceptions behind the concept of the learning region and suggests why, in the Italian context, they have not been successful so far in entering the consciousness of regional leaders. It argues that greater individualisation, privatisation and the ascendancy of the market approach to learning are, perhaps paradoxically, barriers to establishing the regional structures that would implement lifelong learning for all and enhance economic and social progress. Cooperation, partnership, sharing and the integration of stakeholders in respecting a common goal are far more difficult to achieve in today's climate. [source] The restructuring and privatisation of British Rail: was it really that bad?FISCAL STUDIES, Issue 4 2002Michael G. Pollitt Abstract This paper uses a social cost-benefit analysis (SCBA) framework to assess whether rail privatisation in Britain has produced savings in operating costs. The paper shows that major efficiencies have been achieved and consumers have benefited through lower prices, whilst the increased government subsidy has been largely recouped through privatisation proceeds. We also find that output quality is no lower (and is probably better) than under the counterfactual scenario of public ownership (pre-Hatfield). The achievement of further savings is key to delivering improved rail services in the future. This paper finds that a privatised structure, where shareholders demand a return on their investment, has led to significant improvements in operating efficiency. It remains to be seen whether the new regime, with a not-for-profit infrastructure owner, will deliver the same efficiency improvements. [source] The development of competition in the English and Welsh water and sewerage industryFISCAL STUDIES, Issue 2 2001John W. Sawkins Abstract This paper examines the introduction of competition into the English and Welsh water and sewerage industry following privatisation of the 10 regional water authorities in 1989. It outlines the development of comparative, capital and product market competition, arguing that the greatest opportunities now lie with the last through the introduction of common carriage agreements, the extension of Inset appointments and the introduction of transferable abstraction licences. Despite competitive innovations, the industry remains highly regulated, complex and difficult to enter. One of Ofwat's outstanding challenges for the next decade is to examine the means by which the regulatory burden might be lightened and barriers to entry lowered, to encourage potential entrants to compete with incumbents. [source] Infrastructure Financing and Operation in the Contemporary CityGEOGRAPHICAL RESEARCH, Issue 1 2010PHILLIP M. O'NEILL Abstract The provision of large economic infrastructure in Australian cities is widely seen to be in crisis. This paper examines the reasons why crisis has arisen in the urban infrastructure sector and what might be done to redress this. The analysis and the argument are based on a resuscitation of the ideas and ideals of infrastructure provision and how these have been eroded. The paper shows how these ideas/ideals once underpinned the formulation of state role, governance and regulation systems, financial arrangements, and even community need and expectation. Critical to this was an acceptance of the ideals of universality, access, bundling and free positive externalities, and the belief that these should be assembled necessarily as part of any urban infrastructure roll-out. This package became instinctive in post-war economic and urban management. Yet this instinct has been lost as governments shift from models of infrastructure provision to infrastructure procurement where a major role for the private sector is now common. While such an involvement has its benefits, there are concerns for the urban condition when privatisation of infrastructure construction, delivery and operation becomes dominant. Citing Graham and Marvin (2001), the paper argues that, where once infrastructure was the key device for integrating the elements of the city and its people, the way it is now being delivered produces a splintered urbanism. There is an urgent need, then, to re-think what infrastructure means in today's urban context and thereafter to re-assess the criteria for deciding what infrastructure is to be provided, in what form it should be provided, who should provide it, who should pay, and who should operate it. [source] | ||||||||||||||||||||||||||||||||||