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Privatisation Objectives: Theory and Evidence

In: Privatisation in Ireland

Author

Listed:
  • Dónal Palcic
  • Eoin Reeves

Abstract

The 1970s heralded the breakdown of the post-war Keynesian consensus. The problems of high inflation and unemployment (stagflation) as well as low economic growth and poor productivity led to disenchantment with the role of government in modern economies. At a macro-level, governments around the world turned to policies such as monetarism, whereas at a micro-level, market-based solutions to the problems of market failure came into vogue. The latter included a host of new arrangements that altered the boundaries between the public and private sectors, including deregulation, liberalisation, contracting out, the creation of quasi-markets, and different forms of privatisation.

Suggested Citation

  • Dónal Palcic & Eoin Reeves, 2011. "Privatisation Objectives: Theory and Evidence," Palgrave Macmillan Books, in: Privatisation in Ireland, chapter 2, pages 28-51, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-29757-9_3
    DOI: 10.1057/9780230297579_3
    as

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