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Author : Chidozie Emenuga
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.X/5 (4 download)
Download or read book Implementing Privatization Through the Capital Market written by Chidozie Emenuga and published by . This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : C. Edward Fletcher
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.3/5 (91 download)
Download or read book Privatization and the Rebirth of Capital Markets in Hungary written by C. Edward Fletcher and published by . This book was released on 1995 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Republic of Hungary has emerged as the leader in capital market reforms among former Soviet Bloc countries. Since 1982 the country has made significant strides towards the privatization of its economy and the implementation of market regulations, serving as a model for other formerly socialist countries. The progress and mistakes of the Hungarian movement towards capitalism are studied here as a model for reforms in other countries in Eastern Europe. Particular emphasis is placed on the legal and regulatory structures that have been established to facilitate the transition. Banking reforms, development of the Budapest Stock Exchange, stabilization of the forint, and many other interrelated reforms that are an integral part of Hungary's capital market infrastructure are also examined.
Author : Professor Muhammad Tanko
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Impact of Privatization on Capital Market Development and Individual Share Ownership written by Professor Muhammad Tanko and published by . This book was released on 2006 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, an attempt has been made to estimate the impact of share issue privatizations on the growth of the Nigerian capital market (especially stock markets), and to examine the effect privatization has had on the pattern of share ownership by individuals and institutional investors. Privatization broadens and deepens the capital market resulting from increased listings and market size, improved liquidity and regulatory infrastructure, improved awareness and enlarged investor base. Privatization has also provided opportunity for risk diversification, enhanced professionalism and increased government attention. The implementation of the first and second round privatization has resulted in a tremendous boost to the total equity market capitalization, number of listed equities and the all-share price index. Besides, the market capitalization, profit before tax and cash dividend of most of the affected enterprises had improved considerably as these companies offered over 1.3 billion shares for sale to the public and were purchased by over 800,000 shareholders, many of whom were first timers in the market.Although the capital market has been beneficial to the privatized companies, it is important to note that the companies themselves have not fared much better. High transaction (or floatation) costs make it expensive to raise money from the market and the shallowness of the market limits the amount of money that can be raised there, even by companies with the best financial records. Price volatility and the existence of a large informal market in quoted securities cast a pall on the efficiency of the capital market as a framework for resource allocation and mobilization. In spite of the identified shortcomings, the privatization program has enhanced the development of the Nigerian capital market.
Author : David J. Donaldson
Publisher : World Bank Publications
ISBN 13 : 9780821334478
Total Pages : 98 pages
Book Rating : 4.3/5 (344 download)
Download or read book Privatization written by David J. Donaldson and published by World Bank Publications. This book was released on 1995-01-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines key aspects of labor market conditions as they are affected by the economic reforms that are integrating Latin American and Caribbean economies with world markets. Also available: Portuguese edition (ISBN 0-8213-3502-2) Stock No. 13502; Spanish edition (ISBN 0-8213-3501-4) Stock No. 13501.
Author : Ira W. Lieberman
Publisher : World Bank Publications
ISBN 13 : 9780821339473
Total Pages : 270 pages
Book Rating : 4.3/5 (394 download)
Download or read book Between State and Market written by Ira W. Lieberman and published by World Bank Publications. This book was released on 1997-01-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 32. Over the years, demand for education at all levels in Kenya has greatly outpaced supply, a gap that has been reduced by private schools catering to the needs of a wide range of socioeconomic groups. This gap will widen further unless the private sectors role is expanded, but private educational institutions face a number of serious constraints, primarily stemming from lack of adequate finance and, in many cases, limited management skills. This paper reviews the market and its constraints and focuses on conditions under which private financial institutions and the International Finance Corporation might play a useful role in the sector. Annexes include 1996 operating costs of Kenya's academic, technical, and vocational schools.
Author : Ira W. Lieberman
Publisher : Elsevier
ISBN 13 : 076231463X
Total Pages : 383 pages
Book Rating : 4.7/5 (623 download)
Download or read book Privatization in Transition Economies written by Ira W. Lieberman and published by Elsevier. This book was released on 2008 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation.
Author :
Publisher : World Bank Publications
ISBN 13 : 9780821311110
Total Pages : 200 pages
Book Rating : 4.3/5 (111 download)
Download or read book Techniques of Privatization of State-owned Enterprises: Methods and implementation written by and published by World Bank Publications. This book was released on 1988-01-01 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advice for teenagers on how to get along with parents, drawing on Christian precepts.
Author : Michael McLindon
Publisher : Praeger
ISBN 13 : 0275950662
Total Pages : 0 pages
Book Rating : 4.2/5 (759 download)
Download or read book Privatization and Capital Market Development written by Michael McLindon and published by Praeger. This book was released on 1996-09-24 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization and capital markets support and reinforce each other to promote economic growth around the world. This work is intended to fill a gap in the literature by discussing the links between privatization and capital markets, and to provide useful insights for policy makers in developing countries and in the international donor agencies, for academics and practitioners dealing with economic development, and for the internationally minded private sector around the world. Privatization, in its various forms, and the development of capital markets will be a primary catalyst for economic growth and development well into the next century.
Author : John R. Nellis
Publisher : World Bank Publications
ISBN 13 : 9780821321812
Total Pages : 100 pages
Book Rating : 4.3/5 (218 download)
Download or read book Privatization written by John R. Nellis and published by World Bank Publications. This book was released on 1992-01-01 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governance, as defined by the World Bank in its 1992 report, Governance and Development, is the manner in which power is exercised in the management of a country's economic and social resources for development. The report deemed it is within the Bank's mandate to focus on the following: -the process by which authority is exercised in the management of a country's economic and social resources -the capacity of governments to design, formulate, and implement policies and discharge functions. Also available: Governance: The World Bank's Experience (ISBN 0-8213-2804-2) Stock No. 12804.
Author : Bernardo Bortolotti
Publisher : Oxford University Press, USA
ISBN 13 : 0199249342
Total Pages : 171 pages
Book Rating : 4.1/5 (992 download)
Download or read book The Challenges of Privatization written by Bernardo Bortolotti and published by Oxford University Press, USA. This book was released on 2004-03-11 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 1997 to 2001, more than 4,000 privatization operations have been carried out in more than 100 countries, bringing in government revenues of over 1,362 billion dollars. The phenomenon, which grew exponentially at the end of the 1990s and then abruptly slowed down, had dramatic consequences on the performance of state-owned enterprises and a significant impact on industrialized countries, as well as emerging and less developed economies. Yet there have been surprisingly fewattempts to provide a systematic empirical account of the privatization process at the worldwide level.Why do governments privatize? Why do some countries accomplish large-scale privatization programmes, and others never privatize at all? Is privatization a trend or a cycle? Furthermore, how do governments privatize? Do governments really transfer ownership and control of state-owned enterprises or does private ownership tend to coexist with public control?This book provides some answers to these important questions trying to test research hypotheses set forth by the recent economic theory of privatization.Comprehensive cross-country empirical analyses carried out over a period of more than twenty years are used in the book to show that privatization has taken place all over the world, sometimes spontaneously, more often under the pressure of economic and budgetary constraints. Several of the goals of the privatization have been met, but despite proclamations and programmes, only a small minority of countries has carried out a genuine privatization process, completely transferring ownership ofstate-owned enterprises to the private sector. A lack of political will is to some extent at the root of this reluctance. However this reluctance can be traced back partly to structural factors that would make an orderly privatization difficult, such as the absence of developed capital markets,appropriate regulation, and suitable institutions.
Author : V. V. Ramanadham
Publisher : Routledge
ISBN 13 : 1134814062
Total Pages : 394 pages
Book Rating : 4.1/5 (348 download)
Download or read book Privatization and Equity written by V. V. Ramanadham and published by Routledge. This book was released on 1995-03-23 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization and Equity, the contributors look at some of the problems brought about by the change to private ownership. They identify factors which can lead to greater inequality, including changes in market structure, foreign ownership and operating policies. They also highlight the consequences of ignoring considerations of equity. In the short
Author : Ioannis Nicolaos Kessides
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.3/5 (555 download)
Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on 2004 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
Author : International Center for Public Enterprises in Developing Countries
Publisher : Kumarian Press
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.:/5 (321 download)
Download or read book Privatization in Eastern Europe written by International Center for Public Enterprises in Developing Countries and published by Kumarian Press. This book was released on 1991 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ira W. Lieberman
Publisher : World Bank Publications
ISBN 13 : 9780821331873
Total Pages : 270 pages
Book Rating : 4.3/5 (318 download)
Download or read book Russia written by Ira W. Lieberman and published by World Bank Publications. This book was released on 1995 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book contains a collection of papers prepared at a World Bank conference held in June 1994 on privatization and private sector development in Russia. It reviews the privatization achievements of Russian reformers over the past three years, discusses emerging second-tier privatization and post-privatization issues, and summarizes the key themes in the papers presented at the conference. Between November 1991 and June 1994: 1) between 12,000 and 14,000 medium-size and large enterprises had been transferred to private ownership; 2) this set of firms employed more than fourteen million people, or about half of those employed in Russia's industrial sector; 3) about forty million Russian citizens owned shares in privatized firms or investment funds. Although the Russian privatization program has achieved impressive results, the transfer of ownership (mainly to insiders) is only a first step. This must be followed by equally essential second steps to facilitate ownership of privatized firms to external, core investors who will bring in much needed capital, managerial know-how, and access to global markets." -- Website.
Author : Timothy Irwin
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Privatizing Infrastructure written by Timothy Irwin and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors propose a number of privatization rules to ensure that management will improve after privatization. Governments should ensure that the privatized sector has several firms operating in industries that are local natural monopolies, so that if one operator goes bankrupt, another can readily take over. Governments should also permit concentrated ownership and foreign ownership, and profits should not be guaranteed through regulation.
Author : Sunita Kikeri
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4./5 ( download)
Download or read book Privatization written by Sunita Kikeri and published by World Bank Publications. This book was released on 2005 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper takes stock of recent privatization trends, examines the extent to which government ownership is still prevalent in developing countries, and summarizes emerging issues for state enterprise reform going forward. Between 1990 and 2003, 120 developing countries carried out nearly 8,000 privatization transactions and raised $410 billion in privatization revenues. Privatization activity peaked in 1997 and dropped off in the late 1990s and, while still at overall low levels, is slowly creeping back. While there are a large number of studies assessing the impact of privatization on enterprise performance and overall welfare, there are no systematic data on the extent to which privatization has changed the role of state enterprises in the economy. Anecdotal evidence suggests that the state's role has been substantially reduced in Eastern and Central Europe and in certain countries in Latin America. But available evidence also suggests that, despite a long track record of privatization, government ownership in state enterprises is still widely prevalent in some regions and countries, and in certain sectors in virtually all regions. The paper shows that the costs of not reforming state enterprises are high and that continued efforts need to be made to improve their performance by improving privatization policies and institutions; adopting more of a case-by-case approach for complex sectors and countries; and exposing state enterprises to market discipline through new private entry and exit of unviable firms and improvements in their corporate governance. "--World Bank web site.
Author : Carl E. Walter
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.:/5 (318 download)
Download or read book Privatizing China written by Carl E. Walter and published by John Wiley & Sons. This book was released on 2003-06-25 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much is written about the various efforts aimed at reforming China’s state-owned enterprises. But in all this literature the Chinese government’s determined effort to use the equity capital markets as a tool of enterprise reform has been virtually ignored. The fact is that during the past decade this has been, and will continue to be, the principal thrust with regard to the reform of state-owned enterprises. On-again, off-again, noises about bankruptcy, M&A solutions and asset management companies are only sideshows in the process. Carl E. Walter is a Managing Director of JP Morgan and Chief Operating Officer of its China businesses. Prior to joining JP Morgan in 2001, Mr. Walter was a Managing Director and member of the Management Committee of China International Capital Corporation. He was Chief Representative in Beijing for Credit Suisse First Boston from 1993-8. During his decade in China, Mr. Walter has participated in a number of pathbreaking international and domestic share listings and debt issues for Chinese companies, banks and the Ministry of Finance. He holds a PhD from Stanford University and a graduate certificate from Beijing University. Fraser Howie is an independent financial analyst located in Beijing. Over the past ten years he has worked in Hong Kong trading equity derivatives at Bankers Trust and Morgan Stanley. After moving to China in 1998 he worked in the Sales and Trading Department of China International Capital Corporation then with a domestic retail financial services company and most recently with China M&A Management Company.
