Privatisation processes and firm performance : the Libyan industrial sector
Aboujdiryha, Abouazoum Alafi Abdourhim (2011) Privatisation processes and firm performance : the Libyan industrial sector. thesis.
|Abstract:||Since the mid-1980s, there has been a global movement away from state ownership towards private ownership of companies. An important aspect of this trend has been the privatisation of State-owned enterprises with the goal of improving their in general unsatisfactory performance. Initially, the prevailing view was in favour of a fast privatisation process as the only realistic way to combat the problems related to a lack of adequate corporate governance. It was also widely believed that market institutions could be built after the private ownership was created. Recently, reflecting on the disappointing privatisation results in some of the transition economies, policymakers have realised the need to strengthen market institutions prior to privatisation. This insight was further supported by growing evidence from the developed countries that privatisation alone has been insufficient to stimulate performance improvement.
This research contributes to the recent debate on privatisation and its prerequisite restructuring. The focus is on developing countries, in particular Libya. From the mid-1980s until early 2000, Libya‟s industries were faced with US import and export restrictions as well as UN-imposed sanctions. Libya was therefore in an isolated position without much foreign competition for its enterprises. Currently, it is turning from a socialist- to a market-oriented economy which is open to foreign competition. This means that privatisation in Libya includes the need for creating an environment conducive to the development of the private sector. This process provides an opportunity to study how privatisation, competition, and regulation are related. The main objective of the research is: to gain insight into the privatisation processes in the context of developing countries by studying privatisation in Libya.
|Link to this item:||http://purl.utwente.nl/publications/76052|
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