A Model of Complete Privatization via auction for the Post Office

Keywords: Privatization models, Auctions, Post Office, Postal Services

Abstract

The purpose of this study was to determine which would be the most adequate model of privatization for the Brazilian Post and Telegraph Corporation (ECT). It mainly considers the factors of the increase of the sector’s operational efficiency, fiscal impact and applicability in the Brazilian context. At first, it was defined the position of the Post Office in the Brazilian postal service market. Then, the privatization principles were brought based on the results of the privatizations that happened in Brazil and in different countries, where positive results were registered. Besides, it is highlighted what it must be avoided from past experiences in order to have a more effective privatization. In the third section of the article, a comparison between the pulverized and consolidated privatization models is made through the review of empirical works, and it was observed that a higher number of positive cases and a greater viability in favor of the concentrated model via auction for the Post Office. In the fourth section, the auction phases are detailed and combined with the need of a sector liberalization policy so that the expected improvements are achieved.

Downloads

Download data is not yet available.

Author Biography

Marcelo de Arruda, PUC-RS

Graduado em Administração (CESMAC). Pós Graduando em Finanças, Investimentos e Banking (PUC-RS). Atua no mercado financeiro como assessor de investimentos e possui como linhas de pesquisa os campos de economia financeira, gestão de portfólios, finanças públicas e finanças corporativas. Em 2017 foi primeiro lugar na categoria artigo cientifico no Prêmio Graciliano Ramos de Finanças Públicas organizado pela Secretária da Fazenda do Estado de Alagoas (SEFAZ) com o artigo "Análise de Eficiência da Carteira de Investimentos do RPPS de Alagoas".

References

ANDERLONI, Luisa; PILLEY, Odile. Changing context for postal systems in Europe. In: RUOZI, Roberto; ANDERLONI, Luisa. (Orgs). Modernisation and privatisation of postal systems in Europe. Berlin; Heidelberg: Springer, 2002.

BEAULIER, Scott. Bidding for Success: Why Direct Auction Privatizations Lead to Successful Transitions. Mercatus Center Working Paper 26. George Mason University, 2015.

BORBA, Allan. Correios têm histórias de altos e baixos, que mescla eficiência e corrupção. O GLOBO, 2018. Disponível em: . Acesso em 5 abril 2018.

CAMPOREZ, Patrick. Como os Correios criaram uma máquina de ações judiciais para manter monopólio. Época, 2017. Disponível em: . Acesso em 16 abril 2018.

CARVALHO, Marco Antonio de Souza. Privatização: Aspectos fiscais e dívida pública. Dissertação (Mestrado em Ciências Econômicas). Fundação Getúlio Vargas, Rio de Janeiro, 2001, p. 113-114.

CARTA DO IBRE. Desafios para o setor de serviços postais brasileiro. Disponível em: . Acesso em: 18 abril 2018.

CRANDALL, Robert; ELLIG, Jerry. Economic Deregulation and Customer Choice: Lessons fpr the Eletric Industry. Fairfax: Center for Market Process inc, 1997.

CREW, Michael; KLEINDORFER, Paul. Privatizing the U.S Postal Service. Testimony to the House of Representatives Subcommitte on Postal Service on H.R, 2000.

DAVIS, Jeffrey; OSSOWSKI, Rolando; RICHARDSON, Thomas; BARNETT, Steven. Fiscal and Macroeconomic Aspects of Privatization. IMF Occasional Paper. Washington DC: Internacional Monetary Fund, 2000.

DIEKE, Alex Kalevi. Summary of Postal Privatization in Europe & Key Lessons.: Washington: Rutgers Workshop on Postal Organization, 2012.

DJANKOV, Simeon; MURREL, Peter. The Determinants of Enterprise Restructuring in Transition: An Assessment of the Evidence. Washington: The World Bank, 2000.

EID JUNIOR, William; RIBEIRO, Marcos Poplauski; ROCHMAN, Ricardo Ratner. Análise de desempenho financeiro e operacional das empresas recentemente privatizadas no Brasil. São Paulo: Fundação Getúlio Vargas, 2005.

ÉPOCA Negócios. Após três anos de prejuízos bilionários, Correios perdem fôlego para sair da crise. Agência o Globo, 2018. Disponível em: . Acesso em: 15 abril 2018.

FRANCO, Gustavo. O Desafio Brasileiro: Ensaios sobre desenvolvimento, globalização e moeda. São Paulo: Editora 34, 2000.

FRIEDMAN, Milton. Post Office to the People. Office of Personenel Management, Washington, D.C,1986.

GIAMBIAGI, Fabio; ALÉM, Ana Cláudia. Finanças Públicas: Teoria e Prática no Brasil. 5ª Edição. Rio de Janeiro: Elsevier, 2016, p.406.

HAYEK, Friedrich A. Individualism and Economic Order. The University of Chicago Press. Chicago, 1948, p. 105.

KIKERI, Sunita; NELLIS, John. Privatization in Competitive Sectors: The Record to Date. World Bank Policy Working Paper 2860, Washington, D.C, 2002.

LAZZARINE, Sergio G. Capitalismo de Laços: Os donos do Brasil e suas conexões. Elsevier, Rio de Janeiro, 2011.

MUSACCHIO, Aldo. Experiments in Financial Democracy: Corporate Governance and Financial Development in Brazil,1882-1950. Cambridge University Press, New York, 2009.

MUSACCHIO, Aldo; Lazzarine, Sergio G. Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond. Harvard University Press. New York, 2014, p. 45.

NETO, Francisco Anuatti; FILHO, Barossi Milton; Carvalho, Antonio Gledson de; MACEDO, Roberto. Os efeitos da privatização sobre o desempenho econômico e financeiro das empresas privatizadas. Revista Brasileira de Economia, Rio de Janeiro, v. 59, n. 2, 2005, p. 163.

PINHEIRO, Armando Castelar. Impactos Macroeconômicos da Privatização no Brasil. Pesquisa e Planejamento Econômico, IPEA, Rio de Janeiro, v. 26, n.3, 1996, p. 357-398.

ROTHBARD, Murray. Confiscation and the Homestead Principle. The Libertarian Forum, v. 1, n.6, 1969.

SACHS, Jeffrey. The Gains from Privatization in Transition Economies: Is “Change of Ownership” Enough?. CAER II Discussion Paper 65. Harvard Institute for International Development, 2000.

SCHMIDT, Klaus; SCHNITZER, Monika. Methods of Privatization: Auctions. Bargaining, and Give-Aways, University of Munich and CEPR, 1996.

SCHMIDT, Klaus-Dieter. Requirements for successful privatization: Lessons from the Trehandanstalt´s approach. Kiel Working Paper, n. 696, Kiel Institute for the World Economy, 1995.

SHARMA, Ruchir. The Rise and Fall of Nations: Forces of Change in the Post-Crisis World. W.W. London: Norton & Company, 2016.

SHESHINSKI, Eytan; LOPEZ-CALVA, Luis Felipe. Privatization and It´s Benefits: Theory and Evidence. Harvard Institute for International Development, Cambridge, 1998.

STARR, Paul. The Meaning of Privatization. Yale Law and Policy Review 6, New Haven, 1988.

TREBAT, Thomas. Brazil State-owned entreprises: a case study of the State as entrepreneur. Cambrige University Press, 1983.

WELCH, Dick; FRÉMOND, Olivier. The case by case approach to privatization: techniques and examples. World Bank Technical Paper, n. 403, Washington, D.C, 1998.
Published
2018-08-18
How to Cite
de Arruda, M. (2018). A Model of Complete Privatization via auction for the Post Office. MISES: Interdisciplinary Journal of Philosophy, Law and Economics, 6(2). https://doi.org/10.30800/mises.2018.v6.481
Section
Essays & Insights