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From State to Market: A Survey of Empirical Studies on Privatization

Jeffry M. Netter and William L. Megginson

Journal of Economic Literature, 2001, vol. 39, issue 2, 321-389

Abstract: This study surveys the literature examining the privatization of state-owned enterprises (SOEs) We review the history of privatization, the theoretical and empirical evidence on the relative performance of state owned and privately owned firms, the types of privatization, if and by how much privatization has improved the performance of former SOEs in non-transition and transition countries, how investors in privatizations have fared, and the impact of privatization on the development of capital markets and corporate governance. In most settings privatization "works" in that the firms become more efficient, more profitable, and financially healthier, and reward investors.

JEL-codes: L33 P31 P16 P26 (search for similar items in EconPapers)
Date: 2001
Note: DOI: 10.1257/jel.39.2.321
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