Journal title ECONOMIA PUBBLICA
Author/s Massimo Florio
Publishing Year 1 Issue 2003/2 Language Italian
Pages 53 P. File size 288 KB
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This paper draws from a research project (the «Milan Privatisation Study») that offers a comprehensive evaluation of the welfare impact of a policy usually regarded as highly successful and vastly imitated worldwide: the privatisation policy pursued in the UK by Mrs Thatcher’s government (1979-1990) and subsequently by Mr Major’s government (1990-1997). The paper considers the impact of privatisations on five types of agents: firms, employees, shareholders, consumers and tax-payers. The main conclusion of our study is that British privatisations had modest effects on the efficiency of production and consumption. On the other hand, privatisations did have important effects on the distribution of incomes and wealth. Thus the outcome of privatisation in the UK was not unambiguosly a Pareto improvement.
Massimo Florio, Privatizzazioni e benessere: il caso britannico in "ECONOMIA PUBBLICA " 2/2003, pp , DOI: