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Privatization and Reformation

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  • STEPHEN P. KING

Abstract

This paper presents a simple model of a government contemplating the pre‐sale reform of a public enterprise. While the government is less efficient at such reform than the eventual owner, failure to reform may be considered an indicator of low commercial value by potential purchasers. Consequently, the government may be unable to avoid socially wasteful restructuring if it wishes to maximize its net sales revenue. The results presented in this paper provide a number of insights and policy recommendations for governments embarking on a privatization program.

Suggested Citation

  • Stephen P. King, 1995. "Privatization and Reformation," The Economic Record, The Economic Society of Australia, vol. 71(1), pages 18-26, March.
    • Handle: RePEc:bla:ecorec:v:71:y:1995:i:1:p:18-26
    DOI: 10.1111/j.1475-4932.1995.tb01868.x
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    References listed on IDEAS

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    1. Forsyth, P., 1992. "Public Enterprises: A Success Story of Microeconomic Reform?," CEPR Discussion Papers 278, Centre for Economic Policy Research, Research School of Economics, Australian National University.
    2. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, April.
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    Cited by:

    1. Thomas M. Fitzpatrick, 2005. "Privatizing Electrical Utilities In Poland," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.

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