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Privatization: Successes and Failures
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(c) 2025 Columbia University Press. All Rights reserved.
Page 7
Table of Contents
Page 9
Foreword. Joseph E. Stiglitz
Page 21
Acknowledgments
Page 25
Introduction. Gérard Roland
Page 33
1. Private and Public Ownership in Economic Theory. Gérard Roland
Page 56
2. Privatization in Western Europe: Stylized Facts, Outcomes, and Open Issues. Bernardo Bortolotti and Valentina Milella
Page 100
3. Privatization in Central and Eastern Europe and the Commonwealth of Independent States. Jan Hanousek, Evžen Kocenda, and Jan Svejnar
Page 133
4. Privatization in Africa: What Has Happened? What Is to Be Done? John Nellis
Page 160
5. Privatization in Latin America: The Good, the Ugly, and the Unfair. Antonio Estache and Lourdes Trujillo
Page 194
6. Privatization in South Asia. Nandini Gupta
Page 223
7. A Critical Review of the Evolving Privatization Debate. Jomo K. S.
Page 237
Contributors
Page 243
Index
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Table of Contents (2)
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Foreword. Joseph E. Stiglitz (12)
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Acknowledgments (4)
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Introduction. Gérard Roland (8)
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1. Private and Public Ownership in Economic Theory. Gérard Roland (23)
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2. Privatization in Western Europe: Stylized Facts, Outcomes, and Open Issues. Bernardo Bortolotti and Valentina Milella (44)
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3. Privatization in Central and Eastern Europe and the Commonwealth of Independent States. Jan Hanousek, Evžen Kocenda, and Jan Svejnar (33)
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4. Privatization in Africa: What Has Happened? What Is to Be Done? John Nellis (27)
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5. Privatization in Latin America: The Good, the Ugly, and the Unfair. Antonio Estache and Lourdes Trujillo (34)
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6. Privatization in South Asia. Nandini Gupta (29)
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7. A Critical Review of the Evolving Privatization Debate. Jomo K. S. (14)
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Contributors (6)
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Index (13)
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230 INDEX trade unions. See labor issues Vajpayee, Atal Bahari, 185 transfer pricing schemes, xiv–xv valuation of fi rms, partial Transparency International, 130, privatization, 69–70 133n28 van Randenborgh, M., 55, 56–57t, transportation sector: Africa, 115f, 58 116t; Brazil, 144; Colombia, 145; Venezuela, 137 India, 174, 194–96; Latin America, Vickers, J., 14, 16, 20, 189 149, 152t, 160, 161; Mexico, 141; Villalonga, B., 59 Panama, 147; Peru, 148; Western Vishny, R. W., 23–24, 189 Europe, 39, 39f, 40, 41, 67 Vivendi, 162 Trebbi, F., 132n11 voucher privatization programs, xvi, Turkey, 36, 38f, 68t 200; CEE and CIS, 83, 84, 90, 91, turnover ratio, 47, 52–54 97n3; Latin America, 151 Uganda, 113t, 130 Waddams Price, C., 158 Ugaz, C., 158 wages. See labor issues Uhlenbruck, K., 88–89 Wallsten, S., 126–27, 128 Ukraine, 83, 85t Walras, Léon, 10 underpricing, 60–61, 184–85 Washington Consensus, ix, xvii, 76, unforeseen contingencies, 22 199 United Kingdom: control type, 68t; water privatization, xiv; Africa, 115f, fi 116t; Argentina, 131n1, 157; nancial and operating performance, 58–59; fi Bolivia, 143, 159; Colombia, nancial market development, 53t; 145; Côte d’Ivoire, 127; percentage of capital sold, 63, 63t; distribution and production and popular capitalism and share economic theory, 11–13; Gaza, ownership diffusion, 60–62; 129; Guinea, 127, 128, privatization trends and revenues, 131nn3,4,5; Latin America, 152, 37, 38f, 39, 40, 41, 46, 46f; size of 152t, 160; Panama, 147–48; SOE sector, 41, 42t, 44; Thatcher Western Europe, 40, 41, 58 government, ix, 1, 3, 9, 34, 60–61, Weitzman, M., 18 139, 164n2, 199–200 Western Europe, 32–75; drivers of United States, xi, xiii privatization in, 45–47, 46f; United States Enrichment macroeconomic outcomes, Corporation (USEC), xiii, 48–55, 53t; microeconomic xviiin12 outcomes, 55–70, 56–57t, uranium enrichment, xiii, xviiin12 63–64t, 66t, 68t; SOE sector size Uribe administration, Colombia, 145 and, 41–45, 42t; trends in and Uruguay, 137 extent of privatization, 33–41, utility sector: India, 184; Western 34t, 35–40f. See also specifi c Europe, 39, 39f. See also specifi c countries utilities Weyman-Jones, T., 59
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