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THE PUBLIC FINANCE DEBATES:

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:

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  1. THE PUBLIC FINANCE DEBATES: “The New Zealand Government should sell 100% of its SOE stake, not 49%” Proponent: Paul Dyer

  2. 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

  3. Growth of the Crown Balance Sheet Source: Budget 2012 and FY2012 Financial Statements The VUW-GEN Public Finance Debates October 24, 2012

  4. 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

  5. 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

  6. 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

  7. 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

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