The Privatisation of the British Public Sector: An Assessment of a Policy Innovation

  • Peter M. Jackson
Part of the Central Issues in Contemporary Economic Theory and Policy book series (CICETP)

Abstract

The privatisation of public utilities is a universal phenomenon throughout the world. Started as a policy innovation in Britain during the early 1980s it has occupied a place on the policy agenda of the major industrialised countries, the newly developing countries and those of the former eastern European communist bloc. Not all countries have, of course, pursued privatisation with equal vigour. Amongst the countries of the OECD Britain has been one of the most strident advocates of privatisation policy.

Keywords

Petroleum Income Expense OECD Guaran 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Bibliography

  1. [1]
    Alchian A. — Demsetz H., «Production, Information and Economic Organisations», American Economic, vol. 62, 1972, pp. 777–95.Google Scholar
  2. [2]
    Bishop M. — Kay J., Does Privatisation Work? Lesson from the UK, London, London Business School, 1988.Google Scholar
  3. [3]
    Bishop M. — Kay J. — Mayer C, Privatisation and Economic Performance, Oxford, Oxford University Press, 1994.Google Scholar
  4. [4]
    Bishop M. — Kay J. — Mayer C,, «Introduction: Privatisation in Performance», in Bishop M. — Kay K. — Mayer C. (eds.), Privatisation and Economic Performance, Oxford, Oxford University Press, 1994.Google Scholar
  5. [5]
    Bishop M. — Thompson D., «Regulatory Reform and Productivity Growth in the UK’s Public Utilities», Applied Economics, vol. 24, 1992.Google Scholar
  6. [6]
    Borcherding T.E. — Pommerehne W.W. — Schneider W.W., «Comparing the Efficiency of Private and Public Production: Evidence from Five Countries», Zeitschrift fur Nationalokonomie, Supplementum, 1982, pp. 127–56.Google Scholar
  7. [7]
    Burns P. — WeymaJones T., The Performance of the Electricity Distribution Business — England and Wales 1971–1993, Centre for the Study of the Regulated Industries, CIPFA, Discussion Paper, n. 8, 1994.Google Scholar
  8. [8]
    Coase R.H., «The Nature of the Firm», Economica, vol. 4, Nov. 1937, pp. 386–405.CrossRefGoogle Scholar
  9. [9]
    Crewe I., «Has the Electorate Become More Thatcherite?», in Debley R., Thatcherism, London, Charts and Windus, 1988.Google Scholar
  10. [10]
    De Alessi L., «The Economics of Property Rights: A Review of the Evidence», Research in Law Economics, vol. 2, 1980, pp. 1–47.Google Scholar
  11. [11]
    Demsetz H., «Industry Structure, Market Rivalry and Public Policy», Journal of Law and Economics, vol. 16, 1973, pp. 1–9.CrossRefGoogle Scholar
  12. [12]
    Downs A., Inside Bureaucracy, Boston, Little Brown, 1967.Google Scholar
  13. [13]
    Estrin S. — Perotin V., «The Regulation of British and French Nationalised Industries», European Economic Review, vol. 28, 1987, pp. 361–7.CrossRefGoogle Scholar
  14. [14]
    Fiorina M.P. — Noll R.G., «Voters, Bureaucrats, and Legislators: A Rational Choice Perspective on the Growth of Bureaucracy», Journal of Public Economics, vol. 9, 1978, pp. 239–54.CrossRefGoogle Scholar
  15. [15]
    ForemaPeck J. — Manning D., «How Well is BT Performing? An International Comparison of Telecommunications Total Factor Productivity», Fiscal Studies, vol. 9, n. 3, 1988, pp. 54–67.CrossRefGoogle Scholar
  16. [16]
    Furubotn E.G. — Pejovich S., Economics of Property Rights, Cambridge (Mass), Ballinger, 1974.Google Scholar
  17. [17]
    Gough I., The Political Economy of the Welfare State, London, Macmillan, 1979.Google Scholar
  18. [18]
    Griffiths Report, NHS Management Inquiry, Department of Health and Social Security, London, HMSO, 1983.Google Scholar
  19. [19]
    Grossman S.J. — Hart O.D., «Takeover-Birds, the Free Rider Problem, and the theory of Corporations», Bell Journal of Economics, vol. 11, 1980, pp. 42–64.CrossRefGoogle Scholar
  20. [20]
    Hartley K. — Parker D., «Privatisation: a Conceptual Framework», In Ott A. — Hartley K. (eds.), Privatisation and Economic Efficiency: A Comparative Analysis of Developed and Developing Countries, Aldershot, Edward Elgar, 1991.Google Scholar
  21. [21]
    Askel J. — Szymanski S., «Privatisation Jobs and Wages», in Employment Institute Report, vol. 6, n. 7, 1991.Google Scholar
  22. [22]
    Askel J. — Szymanski S., «A Bargaining Theory of Privatisation», Annals of Public and Comparative Economy, vol. 63, 1992.Google Scholar
  23. [23]
    Askel J. — Szymanski S., «Privatisation, Liberalisation, Wages and Employment: Theory and Evidence from the UK», Economica, vol. 60, 1993.Google Scholar
  24. [24]
    Askel J. — Szymanski S., «The Effects of Privatisation, Restructuring and Competition on Productivity Growth in UK Public Corporations», London, Department of Economics, Queen Mary and Westfield College, University of London, Working Paper, n. 286, 1993.Google Scholar
  25. [25]
    Hutchinson G., «Efficiency Gains Through Privatisation of UK Industries», in Ott A. — Hartley K. (eds.), Privatisation and Economic Efficiency: A Comparative Analysis of Development and Developing Countries, Aldershot, Edward Elgar, 1991.Google Scholar
  26. [26]
    Jackson P.M., «Management Techniques in the UK Public Sector», International Review of Administrative Sciences, vol. 54, 1988, pp. 247–66.CrossRefGoogle Scholar
  27. [27]
    Jackson P.M., «The New Public Sector Management: Surrogate Competition and Contracting Out», in Jackson P.M. — Price C.M. (eds.), Privatisation and Regulation, London, Longman, 1994.Google Scholar
  28. [28]
    Jackson P.M., «Reflections on Performance Measurement in Public Service Organisations», in Jackson P.M. (ed.), Measures for Success in the Public Sector, London, CIPFA, Public Finance Foundation, 1995.Google Scholar
  29. [29]
    Kay J.A. — Silberston Z.A., «The New Industrial Policy — Privatisation and Competition», Midland Bank Review, Summer 1984, pp. 8–16.Google Scholar
  30. [30]
    Le Grand J., «Quasi Markets and Social Policy», Economic Journal, Sep. 1991, pp. 1256–67.Google Scholar
  31. [31]
    Leibenstein H., «Allocative Efficiency vs X-Efficiency», American Economic Review, vol. 56, 1966, pp. 392–415.Google Scholar
  32. [32]
    Martin S. — Parker D., «Privatisation and Economic Performance Throughout the UK Business Cycle», Managerial and Decision Economics, vol. 16, 1995, pp. 225–37.CrossRefGoogle Scholar
  33. [33]
    Metcalfe L. — Richards S., Improving Public Management, London, Sage, 1990.Google Scholar
  34. [34]
    Miliband R., The State in Capitalist Society, London, Quartet Books, 1969.Google Scholar
  35. [35]
    Millward R., «The Comparative Performance of Public and Private Ownership», in Roll E. (ed.), The Mixed Economy, London, Macmillan, 1982.Google Scholar
  36. [36]
    Millward R. — Parker D., «Public and Private Enterprise: Comparative Behaviour and Relative Efficiency», in Millward R. (ed.), Public Sector Economics, London, Longman, 1983.Google Scholar
  37. [37]
    Moore J., Privatisation in the UK, London, Aims of Industry, 1986.Google Scholar
  38. [38]
    Moore J., «British Privatisation: Taking Capitalism to the People», Harvard Business Review, Jan.-Feb. 1992, pp. 115–24.Google Scholar
  39. [39]
    National Audit Office, Department of the Environment: Sale of Water Authorities in England and Wales, London, HMSO, 1992.Google Scholar
  40. [40]
    Niskanen W.A., Bureaucracy and Representative Government, New York, Aldine Atherton 1971, Aldershot, Edward Elgar, 1995.Google Scholar
  41. [41]
    O’connor J., The Fiscal Crisis of the State, Helsinki, St Martins Press, 1973.Google Scholar
  42. [42]
    Posner M., «Privatisation: the Frontier Between Public and Private», Policy Studies, vol. 5, 1984, pp. 22–32.CrossRefGoogle Scholar
  43. [43]
    Tullock G., The Politics of Bureaucracy, Washington (DC), Public Affairs Press, 1967.Google Scholar
  44. [44]
    Stigler G., «The Theory of Economic Regulation», Bell Journal of Economics and Management Science, vol. 1, 1971.Google Scholar
  45. [45]
    Stigutz J.E., «Credit Markets and the Control of Capital», Journal of Money, Credit and Banking, n. 17, 1985, pp. 133–52.CrossRefGoogle Scholar
  46. [46]
    Vickers J. — Yarrow G., Privatisation an Economic Analysis, Cambridge (Mass), MIT Press, 1988.Google Scholar
  47. [47]
    WeymaJones T., «Deregulation», in Jackson P.M. — Price C.M. (eds.), Privatisation and Regulation, London, Longman, 1994.Google Scholar
  48. [48]
    Williams W., Washington, Westminster and Whitehall, Cambridge, Cambridge University Press, 1988.Google Scholar
  49. [49]
    Williamson O.E., The Economics of Discretionary Behaviour, Engelwood Cliffs (NJ), Prentice Hall, 1964.Google Scholar
  50. [50]
    Williamson O.E., Markets and Hierarchies, London, Free Press, 1975.Google Scholar
  51. [51]
    Yarrow G., «Privatisation in Theory and Practice», Economic Policy, vol. 2, Apr. 1986.Google Scholar

Copyright information

© Servizio Italiano Pubblicazioni Internazionali Srl 1997

Authors and Affiliations

  • Peter M. Jackson
    • 1
  1. 1.University of LeicesterUK

Personalised recommendations