Port privatization policy and practice

Kevin Cullinane, Dong-wook Song

    Research output: Contribution to journalArticle

    100 Citations (Scopus)

    Abstract

    In recent years a significant number of countries have implemented policies aimed at reforming their port industry. In the belief that it will improve efficiency and reduce the heavy financial burden placed upon governments that attempt to support such a capital-intensive industry, privatization has often formed an important strand of such policies. A key claim in favour of privatization is that the transfer of ownership from public to private hands will ultimately lead to an improvement in economic efficiency and, hence, financial and operational performance. This paper investigates the theoretical underpinnings and practical validity of this claim and concludes that privatization is only a partial cure for what ails the world's ports and that, if implemented in isolation, it simply cannot deliver the much-needed panacea for the industry's woes.
    Original languageEnglish
    Pages (from-to)55-75
    JournalTransport Reviews
    Volume22
    Issue number1
    DOIs
    Publication statusPublished - 2002

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