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POLICY ARENA: Privatization, Public Enterprise Reform and the World Bank: Has ‘Bureaucrats in Business’ Got It Right?

✍ Scribed by Paul Cook

Publisher
John Wiley and Sons
Year
1997
Tongue
English
Weight
140 KB
Volume
9
Category
Article
ISSN
0954-1748

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✦ Synopsis

The World Bank has recently produced a spate of reports dealing with public enterprise reform and privatization. The latest is entitled Bureaucrats in Business. The underlying message that continues to emerge from these reports places emphasis on privatization as the preferred policy option. This conclusion emanates from the Bank's theoretical perspective, which seeks economic and political explanations for the superiority of private, over public, ownership and from the results of recent empirical analysis. This paper reviews and challenges the underlying assumptions made by the Bank in its theoretical work and questions the conclusions that can be derived from the Bank's empirical analysis.

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