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.
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| Online Access: | Connect to the full text of this electronic book |
| 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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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (viii, 141 pages) |
| ISBN: | 9783642566820 (electronic bk.) 3642566820 (electronic bk.) |