Privatisation, Politics, and Economic Performance in Hungary

EAN: 9780521593397
Published 05/02/1998
Language: English

Why do some privatisations apparently fail to produce expected positive results? Economic theory tells us that privatisation should improve efficiency, but this book, originally published in 1998, suggests that political bargaining in the process of privatisation works against the results we expect to achieve. To gain a better understanding of what privatisation is really about, power at a firm level needs to be understood. Privatisation is a gradually unfolding, evolutionary process, often with defective corporate governance. Politicking can take priority over performance, with the result that efficiency is ignored and profitability is affected. This is a comprehensive book on privatisation which focuses on micro-level behavioural issues and it uses exceptionally rich case evidence to illustrate that privatisation is more about politics than performance.

List of figures
List of tables
Preface
Acknowledgements
1. Introduction
2. Privatisation and firm behaviour
3. A political bargaining framework
4. The policy context
5. Behaviour in transition
6. Corporate governance and politicking
7. Conclusion
Appendix
References
Index.