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This paper examines the role that privatization can play within a wider strategy designed to overcome the problems associated with public enterprises. For this purpose, privatization is defined as a transfer of ownership and control from the public to the private sector, with particular reference to asset sales. It is therefore equated with total or partial denationalization. Economic efficiency is not only the key to improving the performance of the public enterprise sector, but is also the source of other gains often attributed to privatization, in particular, its favorable budgetary impact. To public enterprises that are subject to national or international competition, privatization offers the possibility of increased productive efficiency as government financial backing is withdrawn and bankruptcy and takeover become possibilities. The admissibility and desirability of privatization, as well as what types of enterprise should be privatized, ought to be determined by similar considerations in both industrial and developing countries.

AA* / International - Internationaal --- 330.548 --- 338.24 <1-772> --- 336.1 <1-772> --- privatisation --- entreprises publiques --- Efficiency, Industrial --- Nationalisatie. Privatiseringen. --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Onontwikkelde, onderontwikkelde gebieden --- Public finance, government finance in general--Onontwikkelde, onderontwikkelde gebieden --- privatisering --- publieke sector - nationalisatie van bedrijven --- Government business enterprises. --- Industrial efficiency. --- 336.1 <1-772> Public finance, government finance in general--Onontwikkelde, onderontwikkelde gebieden --- 338.24 <1-772> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Onontwikkelde, onderontwikkelde gebieden --- Government business enterprises --- Industrial efficiency --- Privatization --- 658.114 --- 658.115 --- 330.05 --- 338.9 --- 338.047 --- Denationalization --- Privatisation --- Contracting out --- Corporatization --- Government ownership --- Industrial management --- Nationalized companies --- Parastatals --- Public enterprises --- State-owned enterprises --- Business enterprises --- private sector - privé-sector - privé-ondernemingen - private ondernemingen --- overheidsbedrijven --- Nationalisatie. Privatiseringen --- Privé en openbare bedrijven. Openbare diensten. Gemengde economie --- Working papers --- Public economics --- Privatization. --- Finance: General --- Financial Risk Management --- Macroeconomics --- Comparison of Public and Private Enterprises and Nonprofit Institutions --- Contracting Out --- Nonprofit Organizations and Public Enterprise: General --- Public Enterprises --- Public-Private Enterprises --- General Financial Markets: General (includes Measurement and Data) --- International Financial Markets --- Public ownership --- nationalization --- Civil service & public sector --- Finance --- Public sector --- Competition --- Asset management --- Economic sectors --- Financial markets --- Asset and liability management --- Finance, Public --- Asset-liability management --- United Kingdom --- Nationalization