出版社：Ege University, Faculty of Economics and Administrative Sciences
摘要：The new economy developed by the currentglobalization in the world has led countries toincrease their effort on liberalization, deregulationand privatization. Privatization yields efficiencygains, which increase the social welfare ofcountries by abolishing the losses resulting frommarket failure and incorrect structures. Forprivatization to be successful, the conditions underwhich privatization will take place is also veryimportant. This study investigates the effects ofmacroeconomic stability on the privatization effortsof Turkish government. The hypothesis is as Turkisheconomy is having problems to attain and sustainmacroeconomic stability, privatization efforts arealso unsuccessful due to this reason. To test thishypothesis, we use a model that regressesprivatization income to macroeconomic variablesincluding real GNP growth, inflation, exchangerate, unemployment, budget deficit, debt stock,interest rates and public and private investment.The results indicate that when all factors (basicmacroeconomic, public sector and financial) areconsidered together, public sector and financialvariables stand out to be the most significant onesfor privatization. While budget deficit is a definiteadverse factor for privatization income, the effect ofdebt stock is ambiguous. Privatization income isalso positively affected from exchange rateevaluations and increases in private investment.
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