Recently, privatization has become very popular worldwide as an efficient means of constructing and operating infrastructure facilities. Like many other countries, Japan also has adopted a policy in favor of privatization, and has privatized several industries. Now, the privatization of expressway projects has become a controversial issue as the Japanese government has begun considering it as o...

The nations of the former Communist bloc face a task unparalleled in the annals of world history. By promoting allocation of market resources based on politics and social policy instead of economic efficiencies, the former regimes created economies of inefficiency. Committed economic reformers face the task of reallocating resources from inefficient producers dependent on government monies to c...

In the globalization era each and every organization which wants to compete the world’s changing scenario has to adopt changes with time. In case of globalization, privatization and liberalization old traditional strategies of manufacturing and management have already changed. There are no cross border bearers and giants which can operate their operations from more than one country availing...

The economic literature shows that privatizing Social Security can improve labor supply incentives, but it can also reduce risk sharing when households face uninsurable risks. We simulate a stylized 50-percent privatization with transaction costs financed by consumption taxes and examined its impact on macroeconomic variables as well as on the welfare across generations and income classes. Our ...

OBJECTIVES The International Monetary Fund encourages privatization of state-owned tobacco industries. Privatization tends to lower cigarette prices, which encourages consumption. This could be countered with effective tax policies. We explored how investment by British American Tobacco (BAT) influenced tax policy in Uzbekistan during privatization there. METHODS We obtained internal document...

This paper describes the process of privatization of China’s Township Enterprises. Findings from a recent field survey by the authors show how far privatization has proceeded and how it has affected firm performance. The pervasiveness and impact of privatization are readily apparent. The privatization in the mid-1990s was deep and fundamental. More than 50% of local government-owned firms have ...

Large-scale privatization was at the core of economic reform in most transition economies, except China, in the 1990’s. Privatization creates special challenges for multinational investors acquiring firms in the process. Such acquisitions differ from conventional acquisitions due to the constraints imposed on strategic action by the privatization context, the depth of subsequent restructuring, ...

We look at privatization in a general equilibrium model of a small, tariff-distorted, open economy. There is a differentiated good produced by both private and public sector enterprises. A reduction in government production in order to cut losses from such production raises the returns to capital and increases the tariff revenue, which are welfare improving. However, privatization also leads to...

In a privatization competition, private contractors bid against an in-house team to perform a governmental function that is currently performed by the in-house team. The Department of Defense initiated 3,500 privatization competitions from 1978 to 1994, generating estimated annual savings of $1.46 billion. We estimate a reduced-form model of the savings from these competitions that takes into a...