Privatization and Economic Performance

Privatization and Economic Performance

Privatization and Economic Performance

Privatization and Economic Performance

Synopsis

This collection looks at one of the most enduring legacies of the 1980s in Britain--the program of privitizations that the Thatcher government set moving in the first half of the decade, in which whole sectors of the UK economy which were formerly part of the public sector were sold off to the private sector. These programs have influenced economic policy throughout the world, most recently in Eastern Europe. The contributors here examine and evaluate what has been learned from the programs now completed, and what remains to be done.

Excerpt

In 1986Colin Mayer,David Thompson, and I edited a collection of readings Privatisation and Regulation--the UK experience. At that time, privatization was still a novel idea and Britain's new style of utility regulation was only two years old. Now, privatization is a policy which has aroused not only interest but imitation around the world, and we have learnt that regulation introduces many new problems as well as solving old ones. The explosion of what was then a very limited literature in the field has now justified two separate volumes on Privatization and Regulation respectively. The articles they contain have been written and revised at various dates, and while some authors have brought their analysis or conclusions up to date at the time of going to press, others have preferred to leave their views as they stood.

The editors are indebted to Barbara Lee for assembling the material and putting together the manuscripts.

J.K

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