Privatization And Restructuring In Concentrated Markets
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Privatization And Restructuring In Concentrated Markets
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Author : Pehr-Johan Norbäck
language : en
Publisher:
Release Date : 2005
Privatization And Restructuring In Concentrated Markets written by Pehr-Johan Norbäck and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Government business enterprises categories.
Privatization And Restructuring In Central And Eastern Europe
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Author : Robert E. Anderson
language : en
Publisher:
Release Date : 2012
Privatization And Restructuring In Central And Eastern Europe written by Robert E. Anderson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
One of the most important policy questions in the transition economies is what governments can do to speed the restructuring of firms and thus hasten the transition to a mature market economy. The authors report on a study that provides some answers. Privatization encourages restructuring if it is rapid and comprehensive and leads to concentrated ownership. Privatization also promotes restructuring because privatized firms are more likely than state-owned enterprises to exercise wage restraint--and wage restraint is vital to free up the necessary internal finance. But policies that increase bank lending to firms, such as debt forgiveness and recapitalization, may do more harm than good. The safest course is to recapitalize banks only as part of privatization and to encourage negotiations for financial restructuring only after the banks are privatized.
Reforming Infrastructure
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Author : Ioannis Nicolaos Kessides
language : en
Publisher: World Bank Publications
Release Date : 2004
Reforming Infrastructure written by Ioannis Nicolaos Kessides and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
Privatization In Eastern Europe
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Author : Roman Frydman
language : en
Publisher: Central European University Press
Release Date : 1994-01-01
Privatization In Eastern Europe written by Roman Frydman and has been published by Central European University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-01-01 with Business & Economics categories.
In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.
Privatization
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Author : John R. Nellis
language : en
Publisher: World Bank Publications
Release Date : 1992-01-01
Privatization written by John R. Nellis and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-01-01 with Business & Economics categories.
Governance, as defined by the World Bank in its 1992 report, Governance and Development, is the manner in which power is exercised in the management of a country's economic and social resources for development. The report deemed it is within the Bank's mandate to focus on the following: -the process by which authority is exercised in the management of a country's economic and social resources -the capacity of governments to design, formulate, and implement policies and discharge functions. Also available: Governance: The World Bank's Experience (ISBN 0-8213-2804-2) Stock No. 12804.
Financial And Enterprise Restructuring In Emerging Market Economies
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Author : Mr.Timothy D. Lane
language : en
Publisher: International Monetary Fund
Release Date : 1994-03-01
Financial And Enterprise Restructuring In Emerging Market Economies written by Mr.Timothy D. Lane and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-03-01 with Business & Economics categories.
This paper examines alternative approaches to building sound financial structures in emerging market economies. The foremost task is to resolve the bad loan problem and to recapitalize insolvent state banks. By restoring an incentive for banks to price accurately the risks of new lending, this effort would be an important first step in strengthening financial control. However, we argue that this endeavor is only part of the task at hand; the remainder is to provide financing that facilitates the economic restructuring of SOEs. A comprehensive strategy may involve combining discipline derived from enforcing existing loans to SOEs with adequate funding for new forms of ownership, including financing for enterprise sell-offs and leasing.
The World Bank Research Observer
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Author :
language : en
Publisher:
Release Date : 2003
The World Bank Research Observer written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Computer network resources categories.
Transition And Economics
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Author : Gérard Roland
language : en
Publisher: MIT Press
Release Date : 2000
Transition And Economics written by Gérard Roland and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
The transition from socialism to capitalism in former socialist economies has transformed the economic structure. This book provides an overview of research on the issues raised by the shift from collective to private ownership.
Privatizing Russia
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Author : Maxim Boycko
language : en
Publisher: MIT Press
Release Date : 1997-01-22
Privatizing Russia written by Maxim Boycko and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-01-22 with Business & Economics categories.
Privatizing Russia offers an inside look at one of the most remarkable reforms in recent history. Having started on the back burner of Russian politics in the fall of 1991, mass privatization was completed on July 1, 1994, with two thirds of the Russian industry privately owned, a rapidly rising stock market, and 40 million Russians owning company shares. The authors, all key participants in the reform effort, describe the events and the ideas driving privatization. They argue that successful reformers must recognize privatization as a process of depoliticizing firms in the face of massive opposition: making the firm responsive to market rather than political influences. The authors first review the economic theory of property rights, identifying the political influence on firms as the fundamental failure of property rights under socialism. They detail the process of coalition building and compromise that ultmately shaped privatization. The main elements of the Russian program -- corporatization, voucher use, and voucher auctions -- are described, as is the responsiveness of privatized firms to outside investors. Finally, the market values of privatized assets are assessed for indications of how much progress the country has made toward reforming its economy. In many respects, privatization has been a great success. Market concepts of property ownership and corporate management are shaking up Russian firms at a breathtaking pace, creating powerful economic and political stimuli for continuation of market reforms. At the same time, the authors caution, the political landscape remains treacherous as old-line politicians reluctantly cede their property rights and authority over firms.
Privatization In Latin America
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Author : Alberto Chong
language : en
Publisher: World Bank Publications
Release Date : 2005-03-15
Privatization In Latin America written by Alberto Chong and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-03-15 with Business & Economics categories.
Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified? 'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts. 'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.' --Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University
