%0 Journal Article
%T Total Effects of Privatization: Evidence from Turkey
%A Doruk Cengiz
%J Review of Radical Political Economics
%@ 1552-8502
%D 2018
%R 10.1177/0486613418785031
%X I examine effects of the privatization process as a whole in Turkey. I show that the privatization process begins before the firm is sold to private agents. I find that privatization causes the firm-level workforce to decline by 65 percent, profit-margin to increase by 18 percent, and no substantial changes in real sales. Based on the evidence presented, I conclude that the direct outcome of privatization is an income transfer from wage earners to profit earners. JEL Classification: L33, H4
%K privatization
%K pre-privatization restructuring
%K Turkey
%K difference-in-differences
%U https://journals.sagepub.com/doi/full/10.1177/0486613418785031