Abstract
This paper studies the effects of privatization on establishments/plants operating in Finland's manufacturing sector during 1988-2012, concentrating on operational efficiency (sales/ employment). Finland's privatizations allow considering a quasi-experimental design. Therefore, the paper utilizes standard and generalized event-study designs using a control group matched from similar private establishments. Additionally to the event where state ownership drops below 50 percent, the paper studies whether any reductions in state share affect productivity. The results suggest that privatization increases productivity due to a decrease in employment.
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