Munich Personal RePEc Archive

State owned enterprises, privatization and the public interest: evidence of S.O.E. performance in the Greek manufacturing

Halkos, George (2002): State owned enterprises, privatization and the public interest: evidence of S.O.E. performance in the Greek manufacturing. Published in: Archieves of Economic History , Vol. XV, No. 1 (March 2003): pp. 97-110.

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Abstract

In this study a brief description of the policy options for the control of public enterprise under different market structures is presented. A critical examination of the drawbacks of some similar studies in the international literature is also endeavored. Moreover, using a number of suggested financial efficiency ratios a measurement of the efficiency of the state controlled enterprises for the time period 1978-1991 is attempted. The main conclusions drawn from this study are, that public owned enterprises exhibit continuously lower efficiency on average compared to the average efficiency of the industry sectors in which they belong for all the period of the study, competition contributes positively in increasing efficiency, but it is rather considered as a necessary condition than a sufficient condition for the attainment of the overall economic efficiency. Conversely, the ownership form appears to be of critical importance.

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