The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment
CESifo Working Paper Series No. 1126
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 the relative roles of competition, regulation and ownership changes in determining performance improvement. It concludes by looking at the wider lessons that might be learned from the UK's privatisation experiment, including the importance of developing competitive markets and, in their absence, effective regulations.
Number of Pages in PDF File: 46
Keywords: UK, privatisation, competition regulation, lessons.
JEL Classification: L33, H82, L51
Date posted: March 10, 2004