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- W1975627231 abstract "Privatization is the transfer of economic activity from the public sector to the private sector. The term privatization refers to a set of procedures including 1. the sale of the entire enterprise to the private sector; 2. the sale of some shares to the private sector, while maintaining sufficient shares in government hands to continue controlling the enterprise, known as partial privatiza tion; 3. the lease of assets or the contracting out of management to the private sector; 4. the contracting out of the activity to the private sector; and 5. the winding up of the enterprise, and vacating the field to private sector activity. Privatization is the antonym of nationalization, which was a globally observed pheno menon from World War I until the late 1970s. Nationalization took place, without the existence of a generally accepted economic theory to explain or to justify it.1 While much has been written about privatization, it too lacks a single, generally held explana tory body of thought. This essay attempts to bring together a number of approaches to privatization, in the broad context of the market economies of Southeast Asia, even though both the experience and such theory as there exists, are global in scope. It may be well to start with the role of the state-owned enterprise (SOE).2 The best characterization I could find of SOEs, as an ideal, comes from a Canadian source: The public expects Crown corporations to be efficient and profitable, yet they are also supposed to perform a wide variety of social chores while competing with pri vately owned firms. They are to be market-oriented, and at the same time, politically accountable to a minister, the Cabinet or the legislature . . . The contradictions abound. The public sector as an employer is expected to exemplify the most en lightened terms and conditions of employment but, at the same time, is not to be a wage leader or the first to introduce expensive employee benefits such as maternity leave or four-week vacation.3" @default.
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- W1975627231 date "1988-01-01" @default.
- W1975627231 modified "2023-09-26" @default.
- W1975627231 title "The Question of Privatization in The Market Economies of Southeast Asia" @default.
- W1975627231 doi "https://doi.org/10.1355/seaa88d" @default.
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