Think again

Foreign Policy

Volumn , Issue 118, 2000, Pages 14-27

  Megginson, William ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0039007956     PISSN: 00157228     EISSN: None     Source Type: Journal    
DOI: 10.2307/1149668     Document Type: Article

References (18)

1. The prevalence of privatization programs in developing and developed economies during the last two decades has led to significant research and analysis. For studies documenting the declining role of state-owned enterprises worldwide, see Bureaucrats in Business: The Economics and Politics of Government Ownership (Washington: World Bank, 1995) and Oli Havrylshyn and Donal McGettigan's Privatization in Transition Countries: A Sampling of the Literature (Washington: International Monetary Fund, 1999). Daniel Yergin and Joseph Stanislaw offer a lively description of the postwar rise and decline of interventionist government policies (including state ownership of productive assets) in The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World (New York: Simon & Schuster, 1998).
2. The prevalence of privatization programs in developing and developed economies during the last two decades has led to significant research and analysis. For studies documenting the declining role of state-owned enterprises worldwide, see Bureaucrats in Business: The Economics and Politics of Government Ownership (Washington: World Bank, 1995) and Oli Havrylshyn and Donal McGettigan's Privatization in Transition Countries: A Sampling of the Literature (Washington: International Monetary Fund, 1999). Daniel Yergin and Joseph Stanislaw offer a lively description of the postwar rise and decline of interventionist government policies (including state ownership of productive assets) in The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World (New York: Simon & Schuster, 1998).
3. The prevalence of privatization programs in developing and developed economies during the last two decades has led to significant research and analysis. For studies documenting the declining role of state-owned enterprises worldwide, see Bureaucrats in Business: The Economics and Politics of Government Ownership (Washington: World Bank, 1995) and Oli Havrylshyn and Donal McGettigan's Privatization in Transition Countries: A Sampling of the Literature (Washington: International Monetary Fund, 1999). Daniel Yergin and Joseph Stanislaw offer a lively description of the postwar rise and decline of interventionist government policies (including state ownership of productive assets) in The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World (New York: Simon & Schuster, 1998).
4. For regional perspectives, see John Nellis' "Time to Rethink Privatization in Transition Economies?" (Washington: International Finance Corporation Discussion Paper 38, 1999), Paul Bennell's "Privatization in Sub-Saharan Africa: Progress and Prospects During the 1990s" (World Development, November 1997), and Graham R. Smith, et al., "Getting Connected: Private Participation in Infrastructure in the Middle East and North Africa" (Washington: World Bank, March 1997). Jeffrey Sachs and Wing Thye Woo discuss prospects for privatization in China in "Understanding China's Economic Performance" (Cambridge, Mass.: National Bureau of Economic Research, Working Paper 5935, February 1997).
5. For regional perspectives, see John Nellis' "Time to Rethink Privatization in Transition Economies?" (Washington: International Finance Corporation Discussion Paper 38, 1999), Paul Bennell's "Privatization in Sub-Saharan Africa: Progress and Prospects During the 1990s" (World Development, November 1997), and Graham R. Smith, et al., "Getting Connected: Private Participation in Infrastructure in the Middle East and North Africa" (Washington: World Bank, March 1997). Jeffrey Sachs and Wing Thye Woo discuss prospects for privatization in China in "Understanding China's Economic Performance" (Cambridge, Mass.: National Bureau of Economic Research, Working Paper 5935, February 1997).
6. For regional perspectives, see John Nellis' "Time to Rethink Privatization in Transition Economies?" (Washington: International Finance Corporation Discussion Paper 38, 1999), Paul Bennell's "Privatization in Sub-Saharan Africa: Progress and Prospects During the 1990s" (World Development, November 1997), and Graham R. Smith, et al., "Getting Connected: Private Participation in Infrastructure in the Middle East and North Africa" (Washington: World Bank, March 1997). Jeffrey Sachs and Wing Thye Woo discuss prospects for privatization in China in "Understanding China's Economic Performance" (Cambridge, Mass.: National Bureau of Economic Research, Working Paper 5935, February 1997).
7. For regional perspectives, see John Nellis' "Time to Rethink Privatization in Transition Economies?" (Washington: International Finance Corporation Discussion Paper 38, 1999), Paul Bennell's "Privatization in Sub-Saharan Africa: Progress and Prospects During the 1990s" (World Development, November 1997), and Graham R. Smith, et al., "Getting Connected: Private Participation in Infrastructure in the Middle East and North Africa" (Washington: World Bank, March 1997). Jeffrey Sachs and Wing Thye Woo discuss prospects for privatization in China in "Understanding China's Economic Performance" (Cambridge, Mass.: National Bureau of Economic Research, Working Paper 5935, February 1997).
8. Those interested in the financial performance of state-owned enterprises following privatization should consult Ahmed Galal, Leroy Jones, Pankaj Tandon, and Ingo Vogelsang's Welfare Consequences of Selling Public Enterprises (New York: Oxford University Press, 1994). William Megginson and Juliet D'Souza summarize various analyses of the performance of privatized firms across 60 countries and more than 50 industries in "The Financial and Operating Performance of Privatized Firms During the 1990s" (Journal of Finance, August 1999). Studies critical of privatization's impact on individual countries, industries, or firms include Tandon's "Welfare Effects of Privatization: Some Evidence From Mexico" (Boston University Law Journal, Fall 1995) and David Newbery and Michael Pollitt's "The Restructuring and Privatisation of CGB - Was it Worth It?" (Journal of Industrial Economics, September 1997).
9. Those interested in the financial performance of state-owned enterprises following privatization should consult Ahmed Galal, Leroy Jones, Pankaj Tandon, and Ingo Vogelsang's Welfare Consequences of Selling Public Enterprises (New York: Oxford University Press, 1994). William Megginson and Juliet D'Souza summarize various analyses of the performance of privatized firms across 60 countries and more than 50 industries in "The Financial and Operating Performance of Privatized Firms During the 1990s" (Journal of Finance, August 1999). Studies critical of privatization's impact on individual countries, industries, or firms include Tandon's "Welfare Effects of Privatization: Some Evidence From Mexico" (Boston University Law Journal, Fall 1995) and David Newbery and Michael Pollitt's "The Restructuring and Privatisation of CGB - Was it Worth It?" (Journal of Industrial Economics, September 1997).
10. Those interested in the financial performance of state-owned enterprises following privatization should consult Ahmed Galal, Leroy Jones, Pankaj Tandon, and Ingo Vogelsang's Welfare Consequences of Selling Public Enterprises (New York: Oxford University Press, 1994). William Megginson and Juliet D'Souza summarize various analyses of the performance of privatized firms across 60 countries and more than 50 industries in "The Financial and Operating Performance of Privatized Firms During the 1990s" (Journal of Finance, August 1999). Studies critical of privatization's impact on individual countries, industries, or firms include Tandon's "Welfare Effects of Privatization: Some Evidence From Mexico" (Boston University Law Journal, Fall 1995) and David Newbery and Michael Pollitt's "The Restructuring and Privatisation of CGB - Was it Worth It?" (Journal of Industrial Economics, September 1997).
11. Those interested in the financial performance of state-owned enterprises following privatization should consult Ahmed Galal, Leroy Jones, Pankaj Tandon, and Ingo Vogelsang's Welfare Consequences of Selling Public Enterprises (New York: Oxford University Press, 1994). William Megginson and Juliet D'Souza summarize various analyses of the performance of privatized firms across 60 countries and more than 50 industries in "The Financial and Operating Performance of Privatized Firms During the 1990s" (Journal of Finance, August 1999). Studies critical of privatization's impact on individual countries, industries, or firms include Tandon's "Welfare Effects of Privatization: Some Evidence From Mexico" (Boston University Law Journal, Fall 1995) and David Newbery and Michael Pollitt's "The Restructuring and Privatisation of CGB -Was it Worth It?" (Journal of Industrial Economics, September 1997).
12. Several analysts have examined the pricing and method-of-sale decisions of divesting governments. In "Credible Privatization" (American Economic Review, September 1995), Enrico Perotti describes how policy makers can signal commitment to privatization through their share pricing and share retention decisions. Steve Jones, William Megginson, Jeff Netter, and Rob Nash document how governments use share pricing to assuage political opposition in "Share Issue Privatizations as Financial Means to Political and Economic Ends" (Journal of Financial Economics, August 1999). Florencio López-de-Silanes analyzes pricing dilemmas in Mexico's privatization process in "Determinants of Privatization Prices" (Quarterly Journal of Economics, November 1997).
13. Several analysts have examined the pricing and method-of-sale decisions of divesting governments. In "Credible Privatization" (American Economic Review, September 1995), Enrico Perotti describes how policy makers can signal commitment to privatization through their share pricing and share retention decisions. Steve Jones, William Megginson, Jeff Netter, and Rob Nash document how governments use share pricing to assuage political opposition in "Share Issue Privatizations as Financial Means to Political and Economic Ends" (Journal of Financial Economics, August 1999). Florencio López-de-Silanes analyzes pricing dilemmas in Mexico's privatization process in "Determinants of Privatization Prices" (Quarterly Journal of Economics, November 1997).
14. Several analysts have examined the pricing and method-of-sale decisions of divesting governments. In "Credible Privatization" (American Economic Review, September 1995), Enrico Perotti describes how policy makers can signal commitment to privatization through their share pricing and share retention decisions. Steve Jones, William Megginson, Jeff Netter, and Rob Nash document how governments use share pricing to assuage political opposition in "Share Issue Privatizations as Financial Means to Political and Economic Ends" (Journal of Financial Economics, August 1999). Florencio López-de-Silanes analyzes pricing dilemmas in Mexico's privatization process in "Determinants of Privatization Prices" (Quarterly Journal of Economics, November 1997).
15. Voucher or mass privatization programs in former communist countries are the source of particularly contentious debates. Maxim Boycko, Andrei Shleifer, and Robert Vishny offer an early assessment and defense of these programs in "Voucher Privatization" (Journal of Financial Economics, April 1994). For critical perspectives, see David Ellerman's "Voucher Privatization and Investment Funds: An Institutional Analysis" (Washington: World Bank Working Paper 1924, May 1998) and Bernard Black, Reinier Kraakman, and Anna Tarassova's "Russian Privatization and Corporate Governance: What Went Wrong?" (Stanford Law Review, forthcoming 2000).
16. Voucher or mass privatization programs in former communist countries are the source of particularly contentious debates. Maxim Boycko, Andrei Shleifer, and Robert Vishny offer an early assessment and defense of these programs in "Voucher Privatization" (Journal of Financial Economics, April 1994). For critical perspectives, see David Ellerman's "Voucher Privatization and Investment Funds: An Institutional Analysis" (Washington: World Bank Working Paper 1924, May 1998) and Bernard Black, Reinier Kraakman, and Anna Tarassova's "Russian Privatization and Corporate Governance: What Went Wrong?" (Stanford Law Review, forthcoming 2000).
17. Voucher or mass privatization programs in former communist countries are the source of particularly contentious debates. Maxim Boycko, Andrei Shleifer, and Robert Vishny offer an early assessment and defense of these programs in "Voucher Privatization" (Journal of Financial Economics, April 1994). For critical perspectives, see David Ellerman's "Voucher Privatization and Investment Funds: An Institutional Analysis" (Washington: World Bank Working Paper 1924, May 1998) and Bernard Black, Reinier Kraakman, and Anna Tarassova's "Russian Privatization and Corporate Governance: What Went Wrong?" (Stanford Law Review, forthcoming 2000).
18. For links to relevant Web sites, as well as a comprehensive index of related FOREIGN POLICY articles, access www.foreignpolicy.com.