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Economic study of relationship between privatization and economic growth from a sample of developing countries.

机译:来自发展中国家样本的私有化与经济增长之间关系的经济学研究。

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摘要

After three decades of privatization worldwide, has the transfer of state-owned enterprises (SOEs)'s ownership to the private sector been welfare improving? What lessons have we learned from this experience so far? And what are the possible implications of this economic policy and what is its impact on economic growth for the developing countries (DCs), in particular, Saudi Arabia, Kuwait, Bahrain, Egypt, Jordan, Iran, Turkey, Morocco, Pakistan, India, Indonesia, Malaysia, Venezuela, Mexico, and Argentina? These are the main questions addressed in this study.; Economists have studied the role of the privatization policy in economic growth to determine what causes economic development. Some argue that privatization of SOE's has a positive impact on real variables such as GDP, while others have not found relationship between privatization programs and economic development.; This study investigates the effect of privatization on economic growth in fifteen countries with developing economies by using a cross-section model (OLS estimation) and a cross section-time series model using panel data analyses including four panel types which are: None, Common, Fixed effect, and Random effect.; The results of the OLS regression reveal that in case of Saudi Arabia, Kuwait, Bahrain, Jordan, Iran, Morocco, Pakistan, India, Indonesia, Malaysia, Venezuela, Mexico, and Argentina, privatization has had a significant impact on the GDP level which reflects the economic growth at a 5% significance level. While in cases of Egypt and Turkey, the results reveal that there is a negative relationship between privatization indicators and economic growth at a 5% significance level.; The result of the four-panel tests reveal that privatization has a positive and a significant impact at a 5% significance level and this is consistent with study hypothesis that privatization has an impact on the productivity of all factors in the economy, and it leads to improving the investment climate in the developing countries. Hence, the foreign direct investment (FDI) will increase and the economic growth will improve. These results are consistent with the effect of the privatization policy on the economic growth of each country individually (OLS regression) except Egypt and Turkey.; My analysis has significant implications for policy makers of these countries that have yet to undertake large-scale privatization programs, such as Egypt and Turkey. They will have to use the revenue of privatization efficiently, evaluating the companies' assets and decreasing corruption in privatizing the public sector. In addition, these countries should look carefully at the effect of other components on economic growth such factors need to be managed efficiently at the micro and macro level.; The results also suggest that a privatization policy is a must, and that allocating government revenue from privatization efficiently is necessary in order to insure continuous positive impact on economic growth.
机译:在全球进行了三十年的私有化之后,国有企业(SOE)的所有权向私有部门的转移是否改善了福利?到目前为止,我们从这次经验中学到了什么教训?这项经济政策可能带来什么影响,以及它对发展中国家(DC),尤其是沙特阿拉伯,科威特,巴林,埃及,约旦,伊朗,土耳其,摩洛哥,巴基斯坦,印度,印度尼西亚,马来西亚,委内瑞拉,墨西哥和阿根廷?这些是本研究中要解决的主要问题。经济学家已经研究了私有化政策在经济增长中的作用,以确定导致经济发展的原因。一些人认为,国有企业的私有化对诸如GDP之类的实际变量具有积极影响,而另一些人则没有发现私有化计划与经济发展之间的关系。本研究通过使用面板数据分析(包括四种面板类型)的横截面模型(OLS估计)和横截面时间序列模型,研究了私有化对15个发展中国家的经济增长的影响。固定效应和随机效应。 OLS回归的结果表明,在沙特阿拉伯,科威特,巴林,约旦,伊朗,摩洛哥,巴基斯坦,印度,印度尼西亚,马来西亚,委内瑞拉,墨西哥和阿根廷,私有化已对GDP产生了重大影响,以5%的显着水平反映了经济增长。结果表明,在埃及和土耳其,私有化指标与经济增长之间存在负相关关系,显着性水平为5%。四面板测试的结果表明,私有化在5%的显着性水平上具有积极且显着的影响,这与研究假设(私有化会对经济中所有要素的生产率产生影响)相一致。改善发展中国家的投资环境。因此,外国直接投资(FDI)将增加,经济增长将改善。这些结果与私有化政策对埃及和土耳其以外的每个国家的经济增长的影响是一致的(OLS回归)。我的分析对这些尚未实施大规模私有化计划的国家(如埃及和土耳其)的决策者具有重大影响。他们将不得不有效地利用私有化的收入,评估公司的资产并减少公共部门私有化中的腐败。此外,这些国家应仔细研究其他组成部分对经济增长的影响,这些因素需要在微观和宏观层面得到有效管理。结果还表明,必须实行私有化政策,并且有必要有效地从私有化中分配政府收入,以确保对经济增长的持续积极影响。

著录项

  • 作者

    Al-Otaibi, Mohamed Meteb.;

  • 作者单位

    Colorado State University.;

  • 授予单位 Colorado State University.;
  • 学科 Economics General.
  • 学位 Ph.D.
  • 年度 2006
  • 页码 159 p.
  • 总页数 159
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;
  • 关键词

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