1. From this arises the claim for the economies of scale. 2. The nationalized industry is monopolistic. Out of this arises the claim that it can adopt more complete integration and coordination of related functions. 3. The nationalized industry is not operated for private profit. From this it is asserted that price and investment policy can be made more rational and that the collaboration between different classes of workers in the industry can be made more willing;The nationalized industry is a larger operating unit than those it replaced
2. Baker (1899), for example, pointed out, with respect to waterworks in cities around the United States, that "[t]he absence of political considerations, generally speaking, from the management of private works, is undoubtedly a great advantage;The problem of politicisation of public firms had been noted before
3. For reports on SOE performance around the world see, for example;Vickers and Yarrow,1988
4. G�kg�r (2006) looks at the case of Turkey. La Porta and L�pez-de-Silanes (1999) analyse the Mexican privatisation program. For a discussion of privatisation in Malaysia see Sun and Tong;L�pez-Calva ; Sheshinski;For surveys of the results of empirical studies of privatisation see Bortolotti and Siniscalco,1887
5. Incomplete Contracts and the Theory of the Firm: What Have We Learned Over the Past 25 Years?;Philippe Aghion;Journal of Economic Perspectives,2011