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Reframing privatisation: Deconstructing the myth of efficiency

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  • Steve R. Letza
  • Clive Smallman
  • Xiuping Sun

Abstract

In the context of ongoing scandals about public versus private ownership, we review the rise and fall of British nationalised industries, and the subsequent rise of privatisation based on perception of market-based efficiency as a means of improving public service. We evaluate the theoretical and empirical arguments around privatisation and find that the argument of privatisation as a vehicle for efficiency gains is a myth. Instead, we suggest that efficiency is not solely a matter of ownership, but requires a complex interplay of social and commercial variables to make it possible. We call for a more inventive and flexible approach in the search for efficiency in the public sector.

Suggested Citation

  • Steve R. Letza & Clive Smallman & Xiuping Sun, 2004. "Reframing privatisation: Deconstructing the myth of efficiency," Policy Sciences, Springer;Society of Policy Sciences, vol. 37(2), pages 159-183, June.
    • Handle: RePEc:kap:policy:v:37:y:2004:i:2:p:159-183
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    Citations

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    Cited by:

    1. Jupe, Robert, 2012. "The privatization of British Energy: Risk transfer and the state," Accounting, Organizations and Society, Elsevier, vol. 37(2), pages 116-129.
    2. Jorge Pinilla & Joaquim Vergés, 2007. "Efectos De La Privatización En La Eficiencia De Iberia Líneas Aéreas De España S.A," Revista Economía y Administración, Facultad de Ciencias Económicas y Administrativas, Universidad de Concepción, vol. 69, pages 7-38, December.
    3. Reppert, Thorsten, 2023. "Local-level ownership of electricity grids: An analysis of Germany's distribution system operators (DSOs)," Utilities Policy, Elsevier, vol. 85(C).
    4. Jupe, Robert & Funnell, Warwick, 2015. "Neoliberalism, consultants and the privatisation of public policy formulation: The case of Britain's rail industry," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 29(C), pages 65-85.
    5. Jupe, Robert, 2009. "A “fresh start” or the “worst of all worlds”? A critical financial analysis of the performance and regulation of Network Rail in Britain’s privatised railway system," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 20(2), pages 175-204.
    6. Voszka, Éva, 2020. "Állami vagy magántulajdon? Adalékok egy dichotómia értelmezéséhez [Public or private ownership? Some remarks on the interpretation of a dichotomy]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1193-1216.
    7. Abdella Abdou & Saeed Moshiri, 2009. "Privatization and capital formation in developing countries: an empirical analysis," International Review of Applied Economics, Taylor & Francis Journals, vol. 23(5), pages 557-575.
    8. Samaha, Amal, 2020. "Innovators, Bullshitters or Aristocrats: Towards an Explanation of Unproductive Work," MPRA Paper 107169, University Library of Munich, Germany.
    9. Shah, Faisal Tehseen & Syed, Zaineb & Imam, Abeer & Raza, Aiman, 2020. "The impact of airline service quality on passengers’ behavioral intentions using passenger satisfaction as a mediator," Journal of Air Transport Management, Elsevier, vol. 85(C).
    10. Voszka, Éva, 2019. "Elvesztett illúziók - reformközgazdászok a rendszerváltásban [Lost illusions - reform economists in the years of transition]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1284-1311.
    11. Oredegbe, Abayomi & Zhang, Yahua, 2020. "Telecommunications industry efficiency: A comparative analysis of high and middle income countries," Telecommunications Policy, Elsevier, vol. 44(5).

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