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Privatization, Social Impact, and Social Safety Nets [electronic resource] / Sanjeev Gupta.

By: Gupta, Sanjeev.
Contributor(s): Ma, Henry | Schiller, Christian.
Material type: materialTypeLabelBookSeries: IMF Working Papers; Working Paper: No. 99/68Publisher: Washington, D.C. : International Monetary Fund, 1999Description: 1 online resource (27 p.).ISBN: 1451848978 :.ISSN: 1018-5941.Subject(s): Employment Guarantees | Employment | Impact of Privatization | Privatization | Social Safety Nets | Social Welfare | Chile | Ghana | Poland | Slovak Republic | Sri LankaAdditional physical formats: Print Version:: Privatization, Social Impact, and Social Safety NetsOnline resources: IMF e-Library | IMF Book Store Abstract: Privatization promotes economic efficiency and growth, thereby reinforcing macroeconomic adjustment. In the short run, however, it can lead to job losses and wage cuts for workers and higher prices for consumers. This paper discusses these impacts and the fiscal implications of privatization. It then reviews various methods of privatization and finds that public sales and auctions can have more negative effects on workers but maximize the government's revenue gains. Policymakers' options for mitigating the social impact of privatization are surveyed, and experiences under adjustment programs reviewed.
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Privatization promotes economic efficiency and growth, thereby reinforcing macroeconomic adjustment. In the short run, however, it can lead to job losses and wage cuts for workers and higher prices for consumers. This paper discusses these impacts and the fiscal implications of privatization. It then reviews various methods of privatization and finds that public sales and auctions can have more negative effects on workers but maximize the government's revenue gains. Policymakers' options for mitigating the social impact of privatization are surveyed, and experiences under adjustment programs reviewed.

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