PRIVATIZATION WAVES

Toshihiro Matsumura and Daisuke Shimizu

Manchester School, 2010, vol. 78, issue 6, 609-625

Abstract: We investigate a mixed economy where state‐owned public enterprises compete against private firms. We examine sequential privatization of public enterprises, and find that under plausible assumptions one privatization increases the welfare gains of the subsequent privatizations. Thus, even if privatization does not improve welfare at the early stages, it can eventually lead to a point such that privatizations after that point are beneficial to the society and the privatization program ends up with a success.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:bla:manchs:v:78:y:2010:i:6:p:609-625

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