By Pierre Guislain
This publication discusses the basic strategic, felony, financial, and institutional concerns with regards to privatization of state-owned organisations, with an emphasis at the coverage dimensions of privatization. specific consciousness is given to concerns bobbing up within the context of liberalization and privatization of the telecommunications and different infrastructure sectors. the writer attracts on reviews of nations in all areas to demonstrate the dynamic personality of privatization. He demonstrates the complexity of the issues that could come up in this method, examines the relevance of obtainable options, and gives valuable reference issues for policymakers, executives, and advisors. Annexes record laws from greater than a hundred nations and 500 bibliographic references, in addition to really expert journals and web assets on privatization.
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Extra resources for The privatization challenge: a strategic, legal, and institutional analysis of international experience
It is said, also, that income distribution worsened over this period. Sources: The Economist, 11 December 1993, pp. 9091; Financial Times, 20 November 1991, 19 February 1994, and 7 March 1996. sector, and enterprise. The final section briefly describes regional trends and discusses issues concerned with implementation of a privatization strategy. Objectives of Privatization Defining privatization objectives is an important exercise that should be undertaken as early as possible. Many privatization programs have foundered when clear objectives were lacking or where conflicting objectives were simultaneously pursued.
A privatization strategy for an SOE must be consistent with the country's sectoral and macroeconomic strategies. Often, the privatization of an enterprise will make sense only as a component of a sectoral or macroeconomic program. Privatization is thus an instrument of these more comprehensive approaches rather than an end in itself. Furthermore, a dialectic movement is at play: specific divestiture experiences contribute to the development or fine tuning of sectoral and general strategies, which cannot be defined unalterably at the start of a reform program.
If privatization is understood in its broadest sense as the privatization of the economy, then this would indeed be right. If, however, it is understood as simply the sale of SOEs, then it should be seen as a necessary component of a broader program aimed at establishing a market economy. In transition countries, the sale of SOEs is essential for the formation of a market economy, whereas in many other countries governments may feel that they have other options available to achieve their policy objectives.