Privatization

Successes and Failures

Gérard Roland, Joseph E. Stiglitz

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English

Columbia University Press
23 June 2008

Economics & Business; Business & management; Privatisation

Series: Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization

The privatization of large state-owned enterprises is one of the most radical policy developments of the last quarter century. Right-wing governments have privatized in an effort to decrease the size of government, while left-wing governments have privatized either to compensate for the failures of state-owned firms or to generate revenues. In this way, privatization has spread from Europe to Latin America, from Asia to Africa, reaching its zenith with Central and Eastern Europe's transition from socialism to capitalism.

In many countries state ownership has been an important tool in bringing cheap water, energy, and transport to poorer segments of the population. In other instances, it has sponsored aggressive cutbacks, corruption, and cronyism. Privatization: Successes and Failures evaluates the practices and results of privatization in Eastern Europe, Africa, Latin America, and Asia. Featuring the world's leading economists and experts on privatization, this volume offers a broad and balanced analysis of specific privatization projects and uncovers some surprising trends. Partial privatization, for example, tends to be more widespread than one might think, and the effects of privatization on efficiency are generally mixed but rarely negative. Also, while privatization appears uncontroversial in competitive sectors, it becomes increasingly complex in more monopolistic sectors where good regulation is crucial. Privatization concludes with alternative frameworks for countries in Africa and other regions that seek to develop privatization policy and programs.

Foreword by: Joseph E. Stiglitz
Edited by: Gérard Roland
Imprint: Columbia University Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm, Spine: 22mm
Weight: 510g
ISBN: 9780231141604
ISBN 10: 0231141602
Series: Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization
Pages: 256
Publication Date: 23 June 2008
Audience: Professional and scholarly , College/higher education , Undergraduate , Further / Higher Education
Format: Hardback
Publisher's Status: Active

Gerard Roland is professor of economics and political science at the University of California, Berkeley. A leading expert in the field of transition economics and institutional change, he is the author of Transition and Economics: Politics, Markets, and Firms.Joseph E. Stiglitz is University Professor at Columbia University and former chief economist and senior vice president of the World Bank. Among his books are Escaping the Resource Curse and Globalization and Its Discontents, which has been translated into twenty-eight languages. In 2001 he was awarded the Nobel Prize in economics.