This book provides the first
systematic empirical analysis of privatization processes worldwide to explain how and why
governments privatize, and whether privatization has proved successful or not.
Privatization is shown to be a difficult process, shaped by political preferences and
budgetary constraints, often pursued in the absence of suitable economic and legal
institutions. As a result, in most cases, the process has been partial and incomplete, so
that private ownership tends to coexist with public control.
Readership: Academics, researchers, and students of financial economics, political
science, and corporate governance; Economists and policy makers concerned with
privatization.
Table of Contents
Introduction
1 The Economic Theory of
Privatization
2 Privatization Around the
World
3 The Determinants of
Privatization
4 How do Governments
Privatize?
5 Private Ownership, Public
Control
6 Privatizing Monopolies
Conclusions
Appendix I: Data and
Methodology
Appendix 2: Importing
Investor Protection
Appendix 3: Golden Shares
Around the World
160 pages