Impactos microeconõmicos da privatização no Brasil

Abstract

Many authors compared the relative efficiency, of public and private enterprises, but taken as a whole the literature remains unconclusive, both conceptually and empirically. The analysis of what happened to former state enterprises after privatization has helped to untangle this issue and overcome methodological difficulties identified in previous studies. This paper adds to this recent literature by examining the impact of privatization on the performance of state enterprises sold in 1981/89 and 1991/94 in Brazil. Statistically significant results were obtained showing a clear improvement in performance after privatization. This improvement proved to be more significant, in economic and statistical terms, for sales of controlling stakes and for the companies privatized in 1991/94.