Zambia : Post-Privatization Study

[摘要] The World Bank seeks to assess theeffectiveness of the privatization program which wasinitiated in Zambia in 1992 with significant assistance fromthe World Bank and other donor agencies. A review ofrepresentative sample of companies was undertaken in orderto assess the effect of privatization on performance. Thetwenty largest non-copper mining companies by purchaseprice, the twenty by current assets at time ofprivatization, and a remaining sample of smaller companieswere chosen for the study. The indicator most consistentlyreported by companies was turnover. This indicator waschosen as the most reliable available gauge for analysis ofperformance. Typically smaller and less export-oriented -the initial benefits of privatization have been difficult tosustain, and performance has faltered after the initial twoyears. Although recent performance has been better than inthe immediate pre-privatization period, turnover among mostcompanies has never recovered in real terms to early 1990levels. Difficulty in sustaining the net benefits ofprivatization can also be attributed to a suboptimaldomestic and regional environment for private sector growth.Greater attention to these constraints within the domesticand regional environment is warranted in future World Bankassistance strategies, in order to enhance the benefits ofprivatization and maximize new private sector growth.

[发布日期] 2003-12-16 [发布机构] World Bank, Washington, DC

[学科分类] 社会科学、人文和艺术（综合）

[关键词] ACCESS TO CAPITAL;AGGREGATE DEMAND;AGRICULTURAL SECTOR;BANK OPERATIONS;BANKRUPTCY