Forms Of International Privatization Of State-owned Enterprises

Through an international comparison among developed countries. developing countries and transition economies, the thesis made some research on the sphere, procedure and effects of major privatization methods in those counties. Based on an analysis about the reason why the same methods have performed differently in those countries, the thesis gives out some principle on how to select privatization method according to the country's conditions. In order to undertake privatization policy successfully, one country must let the public get an rational expectation about its policy, so it must establish necessary legal and institutional frameworks , give privatization agency autonomy , define specific, privatization procedure and so on. Share issue privatization can be used in the selling of large SOEs, while private negotiation and auction can be used to privatize medium or small SOEs. In fact the privatization agency will have less chance of rent-seeking; even through all the auction prices are not higher than it may reach in an private negotiation.After more than twenty year' s reform, China' s ownership structure has changed significantly. The experience of privatization in other countries can be helpful to the further improvement of China' s ownership structure. China need to bring the public reach an rational expectation about its state-owned-assets-exiting policy, finish necessary legislation worksN set up corresponding agency> define specific exiting procedure. When exit through stock market, it need to take into account: welfare of all kinds of group' s; When exit through private negotiation , it also need to introduce open-bidding mechanism, auction can be a second best method whenever possible.