No description available.

The study provides an overview of the privatization world, identifying key economic, political and institutional factors that have caused variations in the intensity of privatization across countries from different regions of the world. To assess the future path of the privatization policy, the study investigates the dynamics of the private sector and identifies key economic conditions and institutional frameworks that have contributed to the size of the private sector. Using data on private sector employment as a share of total employment to proxy the size of the private sector, it is found that foreign inflow of funds, privatization transactions, total stocks traded activity, credit to private sector and institutional quality are significant factors that have enhanced the size of the private sector around the world. Secondly, the study re-visits some of the leading hypotheses on determinants of public sector size and tests the effect of institutional quality and political competition on public sector size. Dynamic panel estimation techniques reveal that improved law and order and high levels of institutional quality reduce the size of the public sector. The study shows that increased level of political competition also limits the size of public sector spending. The last chapter of the thesis estimates the effect of privatization policies on economic growth, where it is found that both revenues generated from privatization of state firms and the numbers of privatization transactions have a positive impact on economic growth. The results from the growth chapter also reveal that increased level of public sector size has a negative impact on economic growth which is proxied by GDP per capita growth. The growth chapter also provides evidence of a U shaped quadratic relationship existing between economic growth and public sector size. The results of the growth chapter provide a strong case for the positive macro-economic impact of privatization policies therefore acting as a public policy adviser I would strongly recommend governments around the world to continue on the path of privatization.

This dissertation examines privatization and the relationship between macroeconomic financial distress and the propensity to privatize in emerging market countries. The research was undertaken to investigate the rationales of privatization and to attempt to explain the pattern and behavior of privatization in emerging market countries (EMCs). The central hypothesis under investigation is that countries with fiscal pressures such as high debt levels, significant budget deficits, and large current account deficits, ceteris paribus, are more likely to increase their privatization activities. The study begins by providing a background on privatization and state-owned-enterprises (SOEs) in EMCs. It then reviews the theoretical literature underlying privatization and financial distress. Next it provides a comparative profile of EMCs that have or are in the process of privatizing. The empirical analysis supports the hypothesis of a positive relationship between financial distress (with an emphasis on debt as a primary driver of distress) and privatization. In particular, higher levels of debt cause financial distress and unproductive investment and this in turn causes countries to privatize relatively more assets.

Privatisation as a global phenomenon has seen a large number of State Owned Enterprises (SOEs) transforming their individual assets into privately owned and controlled enterprises. The impact of this transformation might be critical not only for the country but also for the organisation's own existence. Research in this field has shown that the risk associated with it can be reduced if strategic tools are introduced to measure and improve the performance of the organisations before and after this process. The Balanced Scorecard (BSC) is one such strategic management tool, which is used to reinforce the implementation of business strategies, in both public and private sectors. This study aims to explore the effectiveness of BSC performance as a strategic tool to successfully assist SOEs in the Gulf countries, which plan for privatisation or indeed have already initiated privatisation. To accomplish this aim, the research has been carried out in three phases. The first phase investigates the role of BSC as one of the principal tools in restructuring organisations for better performance, and understands the rationale of SOEs opting for privatisation. The second phase attempts to validate the hypotheses drawn from the literature pertaining to the concepts of BSC and its approach towards SOE privatisation enabling golden rules to be drawn up. In the third phase, derived BSC model for SOE within Gulf countries pursuing privatisation is prepared, supplemented by the possibility of testing this prototype model through five defined tasks. An in-depth literature review has been carried out on Privatisation, Strategic Management and the BSC. By focusing on the micro level of SOE privatisation, the study highlights the factors that influence the privatisation process of position in the organisation in its chosen market as a key to success. In this context, the BSC is placed as an important assessment strategic tool and as an alternative to the traditional financial indicators. BSC converts an organisation's vision and strategy into a comprehensive set of performance and action measures that provide the basis for a strategic measurement and management system. Its four perspectives remain the same: financial, customers, internal business processes, and learning and growth. This study has recommended the derived BSC model, which addresses the realignment in the perspectives according to the privatisation objectives pursued by a given SOE. The transformation observed from a customer perspective towards a financial perspective has been in the interest of stakeholders. The hierarchical dominance of the financial perspective in the model seems to be the focal change to foster productivity in terms of customer relationship, quality excellence, and other well-defined internal processes. The derived model also integrates a strategyfocused approach which involves translating strategy into operational terms, aligning the organisational resources to strategy, maintaining a continual process of monitoring its performance measures, and mobilising change through executive leadership. Finally, collateral findings on issues such as leadership and management, change management, organisation behaviour, and system implementation, and cultural barriers of Gulf countries add value to the proposed model. Thus an academic extension towards accomplished path of project management during management studies enabled the researcher to contribute the derived model of BSC in manoeuvring the performance indicators for SOE pursuing privatisation.

Cette recherche est centrée sur une approche empirique des effets de la privatisation des entreprises publiques gabonaises, c’est-à-dire des mutations contemporaines opérées à partir de l’appareil productif. Il s’agissait de vérifier l’hypothèse selon laquelle l’emprise économique des entreprises internationales s’étaye sur de nouvelles formes d’emprise culturelle et symbolique qui s’appuient sur des dispositifs inédits : le système managérial. Ce qui pose une double approche à cette recherche : la première, d’ordre macrosociologique, fondée sur l’analyse de l’emprise économique des firmes internationales, c’est-à-dire l’accaparement des capitaux des entreprises privatisées par les firmes internationales et la seconde, microsociologique, qui souligne l’emprise managériale des firmes internationales sur les contre-pouvoirs / This research is centered on an empirical approach of the effects of privatization of public enterprises in Gabon, that is to say, contemporary changes effected from the means of production. This was to test the hypothesis that the economic influence of international companies supports new forms of cultural and symbolic influence that rely on new devices: the managerial system. This poses a dual approach to this research: first, of macrosociological order, based on the analysis of the economic influence of international companies, that is to say, grabbing corporate capital privatized by international firms and second, the microsociological, which emphasizes the managerial influence of international companies on the countervailing powers