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.  

Contributors: Bernardo Bortolotti, Antonio Estache,
Nandini Gupta, Jan Hanousek, Jomo Kwame Sundaram, Evzen Kocenda,
Valentina Milella, John Nellis, Gérard Roland, Joseph E. Stiglitz, Jan
Svejnar, Lourdes Trujillo

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.  

Contributors: Bernardo Bortolotti, Antonio Estache, Nandini Gupta, Jan Hanousek, Jomo Kwame Sundaram, Evzen Kocenda, Valentina Milella, John Nellis, Gérard Roland, Joseph E. Stiglitz, Jan Svejnar, Lourdes Trujillo