Why Do Governments Divest? The Macroeconomics of Privatization
On an unprecedented scale, nations at all income levels and across the political spectrum have initiated privatization programs over the past twenty years. In the course of this privatization movement, microeconomic efficiency arguments have become the standard justification for the divestment of pu...
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| Format: | eBook |
| Language: | English |
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Berlin, Heidelberg
Springer Berlin Heidelberg
2001, 2001
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| Edition: | 1st ed. 2001 |
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| Online Access: | |
| Collection: | Springer Book Archives -2004 - Collection details see MPG.ReNa |
| Summary: | On an unprecedented scale, nations at all income levels and across the political spectrum have initiated privatization programs over the past twenty years. In the course of this privatization movement, microeconomic efficiency arguments have become the standard justification for the divestment of public assets. Why Do Governments Divest? The Macroeconomics of Privatization presents an alternate view. This book argues that short-term macroeconomic considerations are often the true motive behind privatization programs, allowing politicians to exploit privatization for political gain by manipulating macroeconomic aggregates. Macroeconomic considerations can also influence the nature of privatization efforts, delaying necessary reforms in an effort to prevent undesirable short-run consequences. This focus on short-term objectives tends to hinder the achievement of economic efficiency and to impede progress towards higher living standards |
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| Physical Description: | VIII, 141 p online resource |
| ISBN: | 9783642566820 |