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Using information collected by the National Audit Office, a comparison of several aspects of performance on recent Private Finance Initiative (PFI) contracts is conducted. The first aspect is a sector by sector comparison of refinancing profits, bearing in mind differential risk levels and in...
Persistent link: https://www.econbiz.de/10013134905
Persistent link: https://www.econbiz.de/10014478078
Banks perform similar functions all over the world. Nevertheless, the banking systems around the world are very different. This paper analyses how the difference affects local firms as well as small and medium-sized enterprises. For my project, I combine banking and economic data of five EU...
Persistent link: https://www.econbiz.de/10013251199
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...
Persistent link: https://www.econbiz.de/10011324982
We analyze the effect of privatization on the performance of British Airways by examining the privatization's impact on … Airways' privatization, implying expectation of a more competitive British Airways. Closer rivals of British Airways … significantly upon privatization. The results suggest that a change from government to private ownership improves economic …
Persistent link: https://www.econbiz.de/10013122620
This policy paper offers a synthesis of research on privatisation and its impacts on the utilities sector in different countries. It identifies issues to be considered by policy makers concerned with economic reform, including the implications of sequencing privatisation together with...
Persistent link: https://www.econbiz.de/10012733357
Does privatisation increase firm productivity because the private owner's objective is different, or because she is better able to control management? Is privatisation sufficient to improve productivity, or is it only effective in combination with competition? We answer these questions for Great...
Persistent link: https://www.econbiz.de/10012854356
A generally accepted view is that sophisticated bankruptcy procedures are required to mitigate coordination failures and fire sale discounts arising from financial distress. In this paper, we study an industry not subject to mandatory bankruptcy procedures; instead, the shipping industry has...
Persistent link: https://www.econbiz.de/10012854883
This paper looks at the UK's privatisation experiment, which began from the late 1970s. It considers the background to the UK's privatisations, which industries were privatised and how, and summarises the results of studies of performance changes in privatised companies in the UK. It looks at...
Persistent link: https://www.econbiz.de/10013319484
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...
Persistent link: https://www.econbiz.de/10011597634