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THE PUBLIC FINANCE DEBATES: “The New Zealand Government should sell 100% of its SOE stake, not 49%” Proponent: Paul Dyer. Outline. The NZ debate to date. Why public vs private ownership matters. How have NZ SOEs actually been operating, and will anything change?.

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THE PUBLIC FINANCE DEBATES:

“The New Zealand Government should sell 100% of its SOE stake, not 49%”

Proponent:

Paul Dyer

outline
Outline
  • The NZ debate to date.
  • Why public vs private ownership matters.
  • How have NZ SOEs actually been operating, and will anything change?

The VUW-GEN Public Finance Debates

October 24, 2012

growth of the crown balance sheet
Growth of the Crown Balance Sheet

Source: Budget 2012 and FY2012 Financial Statements

The VUW-GEN Public Finance Debates

October 24, 2012

nz s equity investment with the world is essentially balanced
NZ’s equity investment with the world is essentially balanced

Source: Statistics NZ, Balance of Payments, Table 11

The VUW-GEN Public Finance Debates

October 24, 2012

public v private ownership turns on three questions
Public v private ownership turns on three questions:
  • Does competition matter more than ownership?
  • Are SOEs subject to welfare reducing interventions?
  • Are SOE governance problems intractable?

Mary M. Shirley and Patrick Walsh, “Public vs Private Ownership: The Current State of the Debate”, World Bank Research Paper 2420, Mar 2001.

The VUW-GEN Public Finance Debates

October 24, 2012

studies of operating efficiency public vs private ownership
Studies of operating efficiency, public vs private ownership

Mary M. Shirley and Patrick Walsh, “Public vs Private Ownership: The Current State of the Debate”, World Bank Research Paper 2420, Mar 2001.

The VUW-GEN Public Finance Debates

October 24, 2012

how large are the gains
How large are the gains?

William Megginson and Jeffry Netter, “From State to Market: A survey of Empirical Studies of Privatisation””, J. Economic Literature, June 2001

The VUW-GEN Public Finance Debates

October 24, 2012