Has privatization worked in practice? Only recently has sufficient
empirical evidence become available to answer this question.
Earlier studies of privatization have, by necessity, been largely
concerned with a theoretical analysis of privatization policy. The
Political Economy of Privatization draws together substantial
evidence and analysis of the experience of privatization programmes
in practice over the last ten years. The authors assess the
different means of implementing privatization policies and analyse
the impact on the economy. The work is an international study of
the extensive privatization of the public sector of the advanced
industrial countries; the rapid marketization of the East European
countries; and the pressures upon developing countries to adopt
re-regulation and privatization as the route towards economic
growth. The results demonstrate that, far from being a uniform
process, privatization can take many forms - from wholesale
denationalization to the contracting of competitive tendering.
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