The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment

46 Pages Posted: 10 Mar 2004  

David Parker

Cranfield University

Date Written: February 2004

Abstract

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.

Keywords: UK, privatisation, competition regulation, lessons.

JEL Classification: L33, H82, L51

Suggested Citation

Parker, David, The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment (February 2004). CESifo Working Paper Series No. 1126. Available at SSRN: https://ssrn.com/abstract=514224

David Parker (Contact Author)

Cranfield University ( email )

Cranfield
Bedfordshire MK43 OAL, MK43 0AL
United Kingdom

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