Does Privatization Deliver? Highlights from a World Bank Conference

Does Privatization Deliver? Highlights from a World Bank Conference

Does Privatization Deliver? Highlights from a World Bank Conference

Does Privatization Deliver? Highlights from a World Bank Conference

Synopsis

Examines 12 cases where privatization produced significant economic gains. Twelve case studies from Chile, Malaysia, Mexico, and the United Kingdom show that privatization can provide substantial economic gains, given the right policies. It is shown that a given developing country can increase its GDP by an average of 2.5 percent with the divestiture of half its public enterprises. Several enterprises were studied, including airlines, telecommunications firms, electric companies, a lottery, a transport company, and a container terminal. Each study looks at how privatization encouraged sound investment, responsible government, and market-friendly practices. Also examined are the equitable policies used to regulate monopolies, introduce competition, and sell public enterprises. Conference participants point out how these privatization methods could help many other countries achieve similar gains.

Excerpt

This volume summarizes the presentations at a two-day World Bank conference on the welfare effects of privatization, held in Washington, D.C., on June 11-12, 1992 and attended by some one hundred senior policymakers, academicians, and advisers from around the world. Its objective was to disseminate the findings of two years of research conducted by the World Bank and Boston University analyzing twelve cases of privatization of state-owned enterprises in four countries. the detailed analysis of the case studies will be available in a forthcoming World Bank publication. Meanwhile, this volume provides a preview and an overview of the research project and shares some of the insights of the discussants at the conference. the issues discussed in this volume are an important part of EDI's program of seminars on privatization. This volume is a valuable tool both for trainers involved in classroom instruction, as well as for readers who are interested in learning more about the implications of privatization of state-owned enterprises.

Amnon Golan, Director
Economic Development Institute . . .

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