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The race for international markets: Were privatized telecommunications incumbents more successful than their public counterparts?

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  • Jos� M. Alonso
  • Judith Clifton
  • Daniel Díaz-Fuentes
  • Marcos Fernández-Guti�rrez
  • Julio Revuelta

Abstract

Selling off formerly state-owned telecommunications incumbents played a major role in governments’ privatization programmes from the 1980s. One major consequence was that, from the late 1990s, a number of incumbents emerged as the world’s largest Multinational Corporations (MNCs). Despite the importance of this transformation, the determinants of telecommunications internationalization have not been fully analysed. We contribute to the emerging literature on this topic by testing the importance of ownership on the extent of telecommunications internationalization through an analysis of the uneven path to privatization and internationalization of the 22 major incumbents in the OECD. Our results demonstrate that privatization was not a significant factor when explaining internationalization patterns. Using cluster analysis, we show how telecommunications incumbents characterized by diverse ownership arrangements (public, private and mixed) were able to transform themselves into world-class operators.

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  • Jos� M. Alonso & Judith Clifton & Daniel Díaz-Fuentes & Marcos Fernández-Guti�rrez & Julio Revuelta, 2013. "The race for international markets: Were privatized telecommunications incumbents more successful than their public counterparts?," International Review of Applied Economics, Taylor & Francis Journals, vol. 27(2), pages 215-236, March.
    • Handle: RePEc:taf:irapec:v:27:y:2013:i:2:p:215-236
    DOI: 10.1080/02692171.2012.734791
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    References listed on IDEAS

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    1. Paul Conway & Giuseppe Nicoletti, 2006. "Product Market Regulation in the Non-Manufacturing Sectors of OECD Countries: Measurement and Highlights," OECD Economics Department Working Papers 530, OECD Publishing.
    2. World Bank, 2011. "World Development Indicators 2011," World Bank Publications - Books, The World Bank Group, number 2315, December.
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    1. Binsfeld, Nico & Whalley, Jason & Pugalis, Lee, 2016. "Competing against yourself: State duopoly in the Luxembourg telecommunications industry," Telecommunications Policy, Elsevier, vol. 40(8), pages 791-803.
    2. Stefano Clò & Matteo Ferraris & Massimo Florio, 2015. "Public Enterprises in a Global Perspective in the Last Decade," L'industria, Società editrice il Mulino, issue 1, pages 111-138.
    3. Clifton, Judith & Díaz-Fuentes, Daniel & Revuelta, Julio, 2014. "Financing utilities: How the role of the European Investment Bank shifted from regional development to making markets," Utilities Policy, Elsevier, vol. 29(C), pages 63-71.
    4. Cheung, Zeerim & Aalto, Eero & Nevalainen, Pasi, 2020. "Institutional Logics and the Internationalization of a State-Owned Enterprise: Evaluation of International Venture Opportunities by Telecom Finland 1987–1998," Journal of World Business, Elsevier, vol. 55(6).
    5. Di Giulio, Marco & Galanti, Maria Tullia & Moro, Francesco Niccolò, 2016. "Political coalitions, local leaders and the internationalization of local public services in Italy," Utilities Policy, Elsevier, vol. 40(C), pages 144-151.
    6. Asmund Rygh & Gabriel R. G. Benito, 2022. "Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(4), pages 1155-1181, December.
    7. Landoni, Matteo & ogilvie, dt, 2019. "Convergence of innovation policies in the European aerospace industry (1960–2000)," Technological Forecasting and Social Change, Elsevier, vol. 147(C), pages 174-184.
    8. Del Bo, Chiara D. & Ferraris, Matteo & Florio, Massimo, 2017. "Governments in the market for corporate control: Evidence from M&A deals involving state-owned enterprises," Journal of Comparative Economics, Elsevier, vol. 45(1), pages 89-109.
    9. Massimo Florio, 2014. "The return of public enterprise," Working Papers 201401, CSIL Centre for Industrial Studies.
    10. Castelnovo, Paolo & Del Bo, Chiara F. & Florio, Massimo, 2019. "Quality of institutions and productivity of State-Invested Enterprises: International evidence from major telecom companies," European Journal of Political Economy, Elsevier, vol. 58(C), pages 102-117.

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