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Bad politics makes bad policy: the case of Queensland’s asset sales program

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  • John Quiggin

    (Department of Economics, University of Queensland)

Abstract

On 2 June 2009, the Queensland government announced a program of asset sales projected to realise $15 billion. In this paper, the public case for privatisation put forward by the Queensland government is case is shown to be wrong and, in important respects, deliberately misleading. It is argued that the presentation of a spurious case for privatisation has contributed to poor policy decisions regarding the choice of assets to be sold, the failure to restructure the rail industry to promote competiton, and the adoption of inferior methods for sale.

Suggested Citation

  • John Quiggin, 2010. "Bad politics makes bad policy: the case of Queensland’s asset sales program," Australian Public Policy Program Working Papers WPP10_1, Risk and Sustainable Management Group, University of Queensland.
    • Handle: RePEc:rsm:pubpol:p10_1
    as

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    File URL: http://www.uq.edu.au/rsmg/WP/WPP10_1.pdf
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    References listed on IDEAS

    as
    1. Mehra, Rajnish & Prescott, Edward C., 1985. "The equity premium: A puzzle," Journal of Monetary Economics, Elsevier, vol. 15(2), pages 145-161, March.
    2. repec:bla:econom:v:70:y:2003:i:277:p:1-18 is not listed on IDEAS
    3. Simon Grant & John Quiggin, 2006. "The Risk Premium For Equity: Implications For Resource Allocation, Welfare And Policy," Australian Economic Papers, Wiley Blackwell, vol. 45(3), pages 253-268, September.
    4. John Quiggin, 1995. "Does Privatisation Pay?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 28(2), pages 23-42, April.
    5. Stephen King & Rohan Pitchford, 1998. "Privatisation in Australia: Understanding the Incentives in Public and Private Firms," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 31(4), pages 313-328, December.
    6. Ross Guest, 2010. "The Proposed Privatisation of Queensland Motorways," Economic Papers, The Economic Society of Australia, vol. 29(1), pages 23-33, March.
    Full references (including those not matched with items on IDEAS)

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