On an unprecedented scale, nations at all income levels and across the political spectrum have initiated privatization … programs over the past twenty years. In the course of this privatization movement, microeconomic efficiency arguments have … Privatization presents an alternate view. This book argues that short-term macroeconomic considerations are often the true motive …

employment, wages, and productivity. Evidence generally shows these forces to be offsetting, usually resulting in small … employment and earnings effects and sometimes in large, positive effects on productivity and scale. Foreign ownership usually has … positive effects, and the effects of domestic privatization tend to be larger in countries with a more competitive business …