Item description for Why Do Governments Divest: The Macroeonomics of Privatization by Alfred Schipke...
On an unprecedented scale, nations at all income levels and across the political spectrum have initiated privatization programs over the past twenty years. In the course of this privatization movement, microeconomic efficiency arguments have become the standard justification for the divestment of public assets. This book presents an alternate view and argues that short-term macroeconomic considerations are often the true motive behind privatization programs. Why DoGovernment Divest? The Macroeconomics of Privatization is a comprehensive treatment of the macroeconomic issues of privatization. In addition to reviewing topics in economic growth and efficiency, this book explores the fiscal, monetary, balance-of-payments, and employment aspects of privatization. Several diverse case studies illustrate how the pursuit of such short-term political objectives can reduce the benefits of privatization.
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Est. Packaging Dimensions: Length: 9.4" Width: 6" Height: 0.5" Weight: 0.55 lbs.
Release Date Apr 20, 2001
ISBN 3540415793 ISBN13 9783540415794
Availability 54 units. Availability accurate as of Jan 17, 2017 04:33.
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A Macro View of Privatization May 22, 2001
While many authors have conducted micro-based analysis showing the potential efficiency gains from privatization Alfred Schipke takes a macro view of privatization which has been a key policy area in both eastern Europe and western Europe as well as in many developing countries in the 1990s. This study has a strong focus on macroeconomic aspects of privatization, eg growth, balance of payments, employment and monetary and fiscal outcomes. The author starts with a review of the theoretical and empirical literature on public versus private ownership with emphasis on efficiency and growth. Next Alfred Schipke looks into some political economy aspects of privatization followed by a careful analysis of the fiscal motives for privatization. The author rightly points out that fiscal policy makers typically have a short time horizon and rarely consider the broader aspects of intertemporal budget constraints. Schipke looks into a rich variety of policy experiences, including Germany, Pakistan, Jamaica and some eastern European countries. Interestingly, the author also presents a quantitative modelling approach of privatization which is well suited to highlight some key issues. The book offers new insights both from a theoretical and empirical point of view and adds much to the more traditional debate about privatization. Schipke's book is a timely excellent analysis of the key privatization issues at the macro level, and by presenting both modelling approaches as well as thorough case studies the author contributes with advanced material to a core area of economic research and policy analysis. Highly recommended!