State Owned Enterprises, Privatization and the Public Interest: Evidence of S.O.E. Performance in the Greek Manufacturing, Archieves of Economic History, XV (1): 111-126, 2003

State Owned Enterprises, Privatization and the Public Interest: Evidence of S.O.E. Performance in the Greek Manufacturing, Archieves of Economic History XV(1): 111-126. (EconLit Listed). In common with D. Salamouris (2003).

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 attempted. 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 also attempted. The main conclusions drawn from this study are, a) public owned enterprises exhibit continuously for all the period of the study lower efficiency on average compared to the average efficiency of the Industry sectors in which they belong and b) 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.

JEL Classification: A1; D2; Comparison-of-Public-and-Private-Enterprises; Privatization-; Contracting-Out (L330); Industry-Studies-Manufacturing-General (L600); Manufacturing-; Privatization-; Public-Enterprise; State-Owned; Public-Enterprises (L320)