Public Versus Private Ownership

Author : Mary M. Shirley
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.98/5 ( download)

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Download or read book Public Vs. Private Ownership written by Mary M. Shirley and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, Which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance? At the heart of the debate about public versus private ownership lie three questions: · Does competition matter more than ownership? · Are state enterprises more subject to welfare-reducing interventions by government than private firms are? · Do state enterprises suffer more from governance problems than private firms do? Even if the answers to these questions favor private ownership, the question must still be asked: Do distortions in the process of privatization mean that privatized firms perform worse than state enterprises? Shirley and Walsh's review found greater ambiguity about the merits of privatization and private ownership in the theoretical literature than in the empirical literature. In most cases, empirical research strongly favors private ownership in competitive markets over a state-owned counterfactual (although construction of the counterfactual is itself a problem). Theory's ambiguity about ownership in monopoly markets seems better justified. Since the choice confronting governments is between state ownership and privatization rather than between privatization and optimality, theory has left a gap that empirical work has tried to fill. Further research is needed. This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to analyze the effects of privatization and the role of regulation and politics.

Author : Mary M. Shirley
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4./5 ( download)

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Download or read book Public Versus Private Ownership written by Mary M. Shirley and published by World Bank Publications. This book was released on 2000 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance?

Author : Mary M. Shirley
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.98/5 ( download)

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Download or read book Public Vs. Private Ownership written by Mary M. Shirley and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, Which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance? At the heart of the debate about public versus private ownership lie three questions: · Does competition matter more than ownership? · Are state enterprises more subject to welfare-reducing interventions by government than private firms are? · Do state enterprises suffer more from governance problems than private firms do? Even if the answers to these questions favor private ownership, the question must still be asked: Do distortions in the process of privatization mean that privatized firms perform worse than state enterprises? Shirley and Walsh's review found greater ambiguity about the merits of privatization and private ownership in the theoretical literature than in the empirical literature. In most cases, empirical research strongly favors private ownership in competitive markets over a state-owned counterfactual (although construction of the counterfactual is itself a problem). Theory's ambiguity about ownership in monopoly markets seems better justified. Since the choice confronting governments is between state ownership and privatization rather than between privatization and optimality, theory has left a gap that empirical work has tried to fill. Further research is needed. This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to analyze the effects of privatization and the role of regulation and politics.

Author : Mary M. Shirley
Publisher :
ISBN 13 :
Total Pages : 67 pages
Book Rating : 4.17/5 ( download)

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Download or read book Public Versus Private Ownership written by Mary M. Shirley and published by . This book was released on 2000 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance?

Author : Andrei Shleifer
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.02/5 ( download)

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Download or read book State Versus Private Ownership written by Andrei Shleifer and published by . This book was released on 1998 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of capitalist incentives to innovate. Moreover, many of the concerns that private firms fail to address social goals' can be addressed through government contacting and regulation without resort to government ownership. The case for private provision only becomes stronger when competition between suppliers, reputational mechanisms, and the possibility of provision by private not-for-profit firms, as well as political patronage and corruption, are brought into play

Author : Sunita Kikeri
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)

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Download or read book Privatization in Competitive Sectors written by Sunita Kikeri and published by World Bank Publications. This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Ravi Ramamurti
Publisher : World Bank Publications
ISBN 13 : 9780821318638
Total Pages : 344 pages
Book Rating : 4.32/5 ( download)

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Download or read book Privatization and Control of State-owned Enterprises written by Ravi Ramamurti and published by World Bank Publications. This book was released on 1991-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : D. Detter
Publisher : Springer
ISBN 13 : 113751986X
Total Pages : 230 pages
Book Rating : 4.63/5 ( download)

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Download or read book The Public Wealth of Nations written by D. Detter and published by Springer. This book was released on 2016-02-05 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don’t worry about who owns those assets, worry about whether they are managed effectively. Why does this matter? Because despite the Thatcher/ Reagan economic revolution, the largest pool of wealth in the world – a global total that is much larger than the world’s total pensions savings, and ten times the total of all the sovereign wealth funds on the planet – is still comprised of commercial assets that are held in public ownership. If professionally managed, they could generate an annual yield of 2.7 trillion dollars, more than current global spending on infrastructure: transport, power, water, and communications. Based on both economic research and hands-on experience from many countries, the authors argue that publicly owned commercial assets need to be taken out of the direct and distorting control of politicians and placed under professional management in a ‘National Wealth Fund’ or its local government equivalent. Such a move would trigger much-needed structural reforms in national economies, thus resurrect strained government finances, bolster ailing economic growth, and improve the fabric of democratic institutions. This radical, reforming book was named one of the "Books of the Year".by both the FT and The Economist.

Author : Andrei Shleifer
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.71/5 ( download)

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Download or read book State Versus Private Ownership written by Andrei Shleifer and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality of free enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of capitalist incentives to innovate. Moreover, many of the concerns that private firms fail to address social goals can be addressed through government contacting and regulation without resort to government ownership. The case for private provision only becomes stronger when competition between suppliers, reputational mechanisms, and the possibility of provision by private not-for-profit firms, as well as political patronage and corruption, are brought into play.

Author : Kristine F. Miller
Publisher : U of Minnesota Press
ISBN 13 : 1452913293
Total Pages : 205 pages
Book Rating : 4.92/5 ( download)

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Download or read book Designs on the Public written by Kristine F. Miller and published by U of Minnesota Press. This book was released on with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: New York City is home to some of the most recognizable places in the world. As familiar as the sight of New Year’s Eve in Times Square or a protest in front of City Hall may be to us, do we understand who controls what happens there? Kristine Miller delves into six of New York’s most important public spaces to trace how design influences their complicated lives. Miller chronicles controversies in the histories of New York locations including Times Square, Trump Tower, the IBM Atrium, and Sony Plaza. The story of each location reveals that public space is not a concrete or fixed reality, but rather a constantly changing situation open to the forces of law, corporations, bureaucracy, and government. The qualities of public spaces we consider essential, including accessibility, public ownership, and ties to democratic life, are, at best, temporary conditions and often completely absent. Design is, in Miller’s view, complicit in regulation of public spaces in New York City to exclude undesirables, restrict activities, and privilege commercial interests, and in this work she shows how design can reactivate public space and public life. Kristine F. Miller is associate professor of landscape architecture at the University of Minnesota.