In this paper we offer and discuss new evidence on the performance of British Telecom before and after privatisation. We use a unique dataset based on company accounts over forty years (1960-1999), and original additional company data on several variables. We focus particularly on output,...

This paper offers a comprehensive evaluation of the welfare impact of a policy usually regarded as highly successful and vastly imitated worldwide: The privatisation policy pursued in the UK by Mrs Thatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) The...

The privatisation policy pursued in the UK by Mrs Thatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) was the largest experiment in public divestitures among capitalist economies. It had a deep impact on economic policy-making world wide, and was vastly...

This paper analyses the effects on consumers' welfare of the privatisation policy carried out in the UK since 1979. The approach we follow sees the privatisation of a State owned enterprise within the broader framework of the "policy reform" theory (Drèze and Stern, 1990). By adopting this...

This paper offers a review and discussion of the evidence concerning the underpricing and long run performance of British PIPOs (Privatisation Initial Public Offerings) between 1977-1996, i.e. from the first privatisation under a Labour Government (British Petroleum), until the last ones by a...

This paper analyses the effects on consumers' welfare of the privatisation policy carried out in the UK since 1979. The approach we follow sees the privatisation of a State owned enterprise within the broader framework of the policy reform theory (Dreze and Stern, 1990). By adopting this...

The privatisation policy pursued in the UK by Mrs Thatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) was the largest experiment in public divestitures among capitalist economies. It had a deep impact on economic policy-making world wide, and was vastly...

In this paper, we offer and discuss new evidence on the performance of British Telecom (BT) before and after privatisation. We use a unique data-set based on company accounts over 40 years (1960-99) and original additional company data on several variables. We focus particularly on output,...