evidence showing that (a) FDI inflows reduce the likelihood of privatization reversals, (b) worsened terms of trade increase …

We construct objective measures of privatization, internal and external liberalization reform efforts, across countries … external liberalization and privatization, concentration of political power drives internal liberalization, and democracy … underpins all three. We find that FDI inflows reduce the probability of privatization reversals, labour strikes increase that of …