Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean)
In 1988, the government provided to the low income people 34.1% of the stocks of Pohang Iron & Steel Company through the People's Share Program of Privatization for the first time, and then in 1989 21 % of the share of the Korea Electric Power Corporation were also provided to the low incom...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Korea Development Institute
1992-07-01
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| Series: | KDI Journal of Economic Policy |
| Online Access: | https://doi.org/10.23895/kdijep.1992.14.2.3 |
| _version_ | 1819239315812646912 |
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| author | 송, 대희 송, 명희 |
| author_facet | 송, 대희 송, 명희 |
| author_sort | 송, 대희 |
| collection | DOAJ |
| description | In 1988, the government provided to the low income people 34.1% of the stocks of Pohang Iron & Steel Company through the People's Share Program of Privatization for the first time, and then in 1989 21 % of the share of the Korea Electric Power Corporation were also provided to the low income classes through the same way. The purpose of the People's Share Program was known to be to support the low income classes through participating the profit of public enterprises, and also to expand the capital market through the diversification of stock holding structure. Initially, the government planned that the government share of enterprises such as the Citizens National Bank, the Korea Telecommunication Authority would be sold to the low income classes through the People's Share Program step by step. The income support policy, however, was no longer driven after 1989 when the overall stock prices started to decline. In this paper we tried to measure the effect of the privatization scheme of the public enterprises through the People's Share Program. The problems of the People's Share Program of the Pohang Iron & Steel Company and the Korea Electric Power Corporation were also identified~ Several implications of the privatization scheme of the public enterprise through the People's Share Program by stages were found. The People's Share Program was found to be a non-stable policy measure for the income support of low income classes. The efficiency impact of the privatization through the People's Share Program was found to be non-significant. |
| first_indexed | 2024-12-23T13:50:10Z |
| format | Article |
| id | doaj.art-8d8bc8dd13624c058d34e5518143885b |
| institution | Directory Open Access Journal |
| issn | 2586-2995 2586-4130 |
| language | English |
| last_indexed | 2024-12-23T13:50:10Z |
| publishDate | 1992-07-01 |
| publisher | Korea Development Institute |
| record_format | Article |
| series | KDI Journal of Economic Policy |
| spelling | doaj.art-8d8bc8dd13624c058d34e5518143885b2022-12-21T17:44:37ZengKorea Development InstituteKDI Journal of Economic Policy2586-29952586-41301992-07-0114232710.23895/kdijep.1992.14.2.3Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean)송, 대희송, 명희In 1988, the government provided to the low income people 34.1% of the stocks of Pohang Iron & Steel Company through the People's Share Program of Privatization for the first time, and then in 1989 21 % of the share of the Korea Electric Power Corporation were also provided to the low income classes through the same way. The purpose of the People's Share Program was known to be to support the low income classes through participating the profit of public enterprises, and also to expand the capital market through the diversification of stock holding structure. Initially, the government planned that the government share of enterprises such as the Citizens National Bank, the Korea Telecommunication Authority would be sold to the low income classes through the People's Share Program step by step. The income support policy, however, was no longer driven after 1989 when the overall stock prices started to decline. In this paper we tried to measure the effect of the privatization scheme of the public enterprises through the People's Share Program. The problems of the People's Share Program of the Pohang Iron & Steel Company and the Korea Electric Power Corporation were also identified~ Several implications of the privatization scheme of the public enterprise through the People's Share Program by stages were found. The People's Share Program was found to be a non-stable policy measure for the income support of low income classes. The efficiency impact of the privatization through the People's Share Program was found to be non-significant.https://doi.org/10.23895/kdijep.1992.14.2.3 |
| spellingShingle | 송, 대희 송, 명희 Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean) KDI Journal of Economic Policy |
| title | Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean) |
| title_full | Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean) |
| title_fullStr | Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean) |
| title_full_unstemmed | Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean) |
| title_short | Economic Effects of the Privatization of the Public Enterprises through the People's Share Program (Written in Korean) |
| title_sort | economic effects of the privatization of the public enterprises through the people s share program written in korean |
| url | https://doi.org/10.23895/kdijep.1992.14.2.3 |
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