How (Un)Even was the Distribution of the Impacts of Mali's Water Privatisation across Stakeholders?

This article evaluates quantitatively the welfare effects and their distribution among key stakeholders of Mali's brief water privatisation experience. To do so, we estimate economic worth generation and its drivers from a new use of indicator duality and production theory. We find that: (i) most users, intermediate suppliers, investors and workers benefited; (ii) poor rural users gained much less and taxpayers lost, moreover, (iii) foreign workers and investors benefited much more than locals, (iv) the firm's owners captured a large share of the rent they helped create, probably through transfer pricing as they controlled cost data for key intermediate inputs. © 2013 Copyright Taylor and Francis Group, LLC.