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Does Privatisation Meet the Expectations in Developing Countries? A Survey and Some Evidence from Africa

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  • Narjess Boubakri
  • Jean-Claude Cosset

Abstract

Although privatisation has turned into a worldwide phenomenon, it is only recently that developing countries have launched extensive privatisation programmes. This paper surveys the empirical literature on the operating and financial performance of newly privatised firms in developing countries. The major studies in the field suggest that privatisation improves the operating performance of former state-owned enterprises. However, performance improvements seem to be less marked for firms in less developed countries. The paper also provides new evidence for a subset of firms privatised exclusively in African countries. The preliminary results for a sample of 16 privatised firms in Africa suggest that privatisation resulted in profitability improvements, although not significantly. Efficiency as well as output measured by real sales decreased slightly but not significantly, while capital expenditures rose significantly in the post-privatisation period. Copyright 2002 , Oxford University Press.

Suggested Citation

  • Narjess Boubakri & Jean-Claude Cosset, 2002. "Does Privatisation Meet the Expectations in Developing Countries? A Survey and Some Evidence from Africa," Journal of African Economies, Centre for the Study of African Economies, vol. 11(suppl_1), pages 111-140, February.
    • Handle: RePEc:oup:jafrec:v:11:y:2002:i:suppl_1:p:111-140
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    File URL: http://hdl.handle.net/10.1093/jafeco/11.suppl_1.111
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    Cited by:

    1. Ghulam, Yaseen & Jaffry, Shabbar, 2015. "Efficiency and productivity of the cement industry: Pakistani experience of deregulation and privatisation," Omega, Elsevier, vol. 54(C), pages 101-115.
    2. repec:dgr:rugsom:04c31 is not listed on IDEAS
    3. Ghulam, Yaseen, 2017. "Long-run performance of an industry after broader reforms including privatization," Research in International Business and Finance, Elsevier, vol. 42(C), pages 745-768.
    4. Truong, Dong Loc & Lanjouw, Gerrit Jan & Lensink, Bernardus Wander, 2004. "The impact of privatisation on firm performance in a transition economy: the case of Vietnam," Research Report 04C31, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    5. Josiah, Jairos & Burton, Bruce & Gallhofer, Sonja & Haslam, Jim, 2010. "Accounting for privatisation in Africa? Reflections from a critical interdisciplinary perspective," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 21(5), pages 374-389.
    6. Carlos Pestana Barros & Emanuel Reis Leão & Nkanga Pedro João Macanda & Zorro Mendes, 2016. "A Bayesian Efficiency Analysis of Angolan Banks," South African Journal of Economics, Economic Society of South Africa, vol. 84(3), pages 484-498, September.

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