Privatization promotes economic efficiency and growth, thereby reinforcing macroeconomic adjustment. In the short run, however, it can lead to job losses and wage cuts for workers and higher prices for consumers. This paper discusses these impacts and the fiscal implications of privatization. It...

This paper presents an analysis of the social impact of the economic crisis and reform programs in three Asian countries: Indonesia, Korea, and Thailand. The focus is on changes in real consumption expenditures arising from higher inflation and unemployment