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Privatization: Countries
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In other countries too, unions have shifted from outright opposition to privatization to trying to influence the way it is carried out. In Niger, telecommunications workers went on strike in August and September 1999 to protest government plans to break up and sell the mobile phone network. The workers felt that such a move would undercut the value of the business for potential investors and might jeopardize its prospects after privatization. The government relented and agreed to sell the enterprise as a single entity.
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The Global Policy Network's pilot study of privatization was made possible with funding from the American Center for Labor Solidarity (Solidarity Center). Five countries, with strong GPN partners, were chosen and the partner in each country was asked to choose a sector of the economy that had high political and economic importance. The researchers collectively chose to not study water because so much attention is already being directed to water privatization.
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In general, it is African countries and the smallest, poorest and most debt-ridden countries where loan documents reveal IMF conditions on water privatization and cost recovery. Water privatization or cost recovery provisions are attached to loans to Angola, Benin, Guinea-Bissau, Honduras, Nicaragua, Niger, Panama, Rwanda, Sao Tome and Principe, Senegal, Tanzania and Yemen.
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Most privatization success stories come from high-income and middle-income countries. Privatization is easier to launch and more likely to produce positive results when the company operates in a competitive market, and when the country has a market-friendly policy environment and a good capacity to regulate. The poorer the country, the longer the odds against privatization producing its anticipated benefits, and the more difficult the process of preparing the terrain for sale.
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A series of mean analyses are performed, taking into consideration privatization program characteristics and control variables to account for other economic reforms that have occurred simultaneously with privatization. General findings suggest that overall there is positive economic, financial, and social growth after privatization. However, it is difficult to discern the effects of privatization, from the effects of other economic reforms. In addition, countries that have manager/employee privatization do not have sale privatization as part of their programs experience negative growth in market capitalization, value of stocks traded, and official development assistanc
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In the division of labor between the IMF and the World Bank, it is the Bank that has primary responsibility for "structural" issues such as the privatization of state-owned companies. In countries where IMF loan conditions include water privatization or cost recovery requirements, there are usually corresponding World Bank loan conditions and water projects that are implementing the financial, managerial and engineering details required for "restructuring" the water sector. But IMF structural adjustment documents are more often publicly available than those from the World Bank, making it easier to search IMF documents, despite the Bank's lead role in this area.
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