The Welfare and Political Economy Dimensions of Private versus State Enterprise | Zendy

Cook Paul | Zendy; Fabella Raul V. | Zendy

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The Welfare and Political Economy Dimensions of Private versus State Enterprise

Author(s) -

Cook Paul,

Fabella Raul V.

Publication year - 2002

Publication title -

the manchester school

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.361

H-Index - 42

eISSN - 1467-9957

pISSN - 1463-6786

DOI - 10.1111/1467-9957.00294

Subject(s) - economics , subsidy , oligopoly , redistribution (election) , monopoly , public enterprise , valuation (finance) , welfare , politics , market economy , redistribution of income and wealth , microeconomics , public good , finance , public administration , political science , law

We revisit the theoretical debate concerning the merits of privatization by decomposing the welfare effect of transferring an enterprise from public to private ownership. A range of effects is considered including overproduction, subsidy valuation, redistribution, ownership and regulatory effects. The potential gains/losses from privatization are examined by considering the initial conditions facing enterprises under public ownership (whether technically and/or economically efficient) and a range of post‐privatization market structures (whether monopoly, oligopoly or Walrasian).

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