The Privatisation of Public Assets as an Economic Policy Instrument: Private versus Public Ownership of Companies – Empirical Evidence and Considerations for Industrial Location Policy

Michael Böheim
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Michael Böheim: WIFO

Austrian Economic Quarterly, 2011, vol. 16, issue 4, 244-255

Abstract: This second contribution to WIFO's series of articles on privatisation focuses on the analysis of the empirical evidence. It also investigates which extent of government withdrawal from state-owned enterprises would be optimal from the perspective of industrial location policy. According to the international empirical evidence private ownership is generally the more efficient and more profitable form of ownership by economic standards. Only in narrowly defined exceptions, if functioning competition cannot be achieved via the respective regulation as, e.g., in the case of services of general interest, a permanent strategic investment by the government as core shareholder is justified from an economic perspective.

Keywords: Privatisation; Empirical; Evidence; Private; Ownership; Public; Ownership (search for similar items in EconPapers)
Date: 2011
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