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The Welfare and Political Economy Dimensions of Private versus State Enterprise

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  • Paul Cook
  • Raul V. Fabella

Abstract

We revisit the theoretical debate concerning the merits of privatization by decomposing the welfare effect of transferring an enterprise from public to private ownership. A range of effects is considered including overproduction, subsidy valuation, redistribution, ownership and regulatory effects. The potential gains/losses from privatization are examined by considering the initial conditions facing enterprises under public ownership (whether technically and/or economically efficient) and a range of post‐privatization market structures (whether monopoly, oligopoly or Walrasian).

Suggested Citation

  • Paul Cook & Raul V. Fabella, 2002. "The Welfare and Political Economy Dimensions of Private versus State Enterprise," Manchester School, University of Manchester, vol. 70(2), pages 246-261, March.
    • Handle: RePEc:bla:manchs:v:70:y:2002:i:2:p:246-261
    DOI: 10.1111/1467-9957.00294
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    Cited by:

    1. German Coloma, 2006. "Mergers and Acquisitions in Mixed-Oligopoly Markets," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 5(2), pages 147-159, August.
    2. Sang‐Ho Lee, 2006. "Welfare‐Improving Privatization Policy In The Telecommunications Industry," Contemporary Economic Policy, Western Economic Association International, vol. 24(2), pages 237-248, April.
    3. repec:hit:hitjcm:v:56:y:2015:i:1:p:135-154 is not listed on IDEAS
    4. Xu, Lili & Lee, Sang-Ho, 2015. "Strategic Privatization With Tariffs And Environmental Taxes In An International Mixed Duopoly," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 56(1), pages 135-154, June.
    5. Minogue, Martin, 2005. "Apples and oranges: problems in the analysis of comparative regulatory governance," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(2-3), pages 195-214, May.
    6. Willner, Johan & Parker, David, 2002. "The Relative Performance of Public and Private Enterprise Under Conditions of Active and Passive Ownership," Centre on Regulation and Competition (CRC) Working papers 30591, University of Manchester, Institute for Development Policy and Management (IDPM).
    7. Fabella, Raul V., 2006. "Shifting the Boundary of the State: The Privatization and Regulation of Water Service in Metropolitan Manila," Centre on Regulation and Competition (CRC) Working papers 30650, University of Manchester, Institute for Development Policy and Management (IDPM).

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