Rochester Studies in Managerial Economics and Policy

Privatization and State-Owned Enterprises

Lessons from the United States, Great Britain and Canada

Editors: Macavoy, P.W., Stanbury, W.T., Yarrow, G., Zeckhauser, R. (Eds.)

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About this book

The book is divided into three major sections. The first presents a theoretical discussion that underlies the other essays. The second section deals with privatization issues from the perspective of the United States. The third describes research addressed to the U. K. and Canada. In the first chapter, Richard Zeckbauser and Murray Horn develop a wide-ranging theoretical framework for assessing the capabilities and role of state-owned enterprises; it provides a foundation for the analyses that follow. In The Control and Perfonnance o[ State-Owned Enterprises , they describe state-owned enterprises as an extreme case of the separation of ownership and control. The focus is on management --the incentives it faces and the conflicts to which it is subjected. The distinguishing characteristics of public enterprise, the authors suggest, give it a comparative advantage over both public bureaucracy and private enterprise in certain situations. They argue that legislators are more likely to prefer SOEs over private enterprise when the efficiency of private enterprise is undermined by regulation or the tbreat of opportunistic state action, when the informational demands of subsidizing private production to meet distributional objectives are high, when it is difficult to assign property rights, or when state ownership is ideologically appealing. These considerations suggest why SOEs are usually assigned special rights and responsibilities, and they help explain observed regularities in the distribution of SOEs across countries and sectors. Zeckhauser and Horn apply principal-agent theory to identify the key factors underlying the performance of state-owned enterprises.

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook $89.00
price for USA in USD
  • ISBN 978-94-011-7429-9
  • Digitally watermarked, DRM-free
  • Included format:
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $119.99
price for USA in USD
  • ISBN 978-94-011-7431-2
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
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Bibliographic Information

Bibliographic Information
Book Title
Privatization and State-Owned Enterprises
Book Subtitle
Lessons from the United States, Great Britain and Canada
Editors
  • Paul W. Macavoy
  • W.T. Stanbury
  • George Yarrow
  • Richard Zeckhauser
Series Title
Rochester Studies in Managerial Economics and Policy
Series Volume
6
Copyright
1989
Publisher
Springer Netherlands
Copyright Holder
Kluwer Academic Publishers
eBook ISBN
978-94-011-7429-9
DOI
10.1007/978-94-011-7429-9
Softcover ISBN
978-94-011-7431-2
Series ISSN
0924-6002
Edition Number
1
Number of Pages
384
Topics