This paper sheds some light about privatisation in utilities. An empirical analysis based on sales in the electricity … sector in 38 countries for the period 1977-97 shows that regulation is a crucial institutional variable in privatisation. Not … proceeds reducing regulatory risk. The revenues-efficiency trade-off loses some relevance in electricity privatisation. …

privatisation find strong support in our analyses: market oriented Governments favour domestic investors in the allocation of shares …

conventional pre- versus post-privatisation comparisons, we find that profitability, output, operating efficiency and capital … investment spending increase significantly after privatisation, while employment and leverage decline significantly. However … privatisation. We verify that privatisation is significantly related to higher profitability, output and efficiency, and with …

This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over … the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic … budget constraints. But the extent of privatisation in terms of revenues and stakes sold appears more limited in civil law …