This article shows that mark-ups are significantly higher in South African manufacturing industries than they are in corresponding industries worldwide. We test for the consequences of this low-level of product market competition on productivity growth. The results of the paper are that high...

We have two goals in this paper. The first is to draw lessons from the privatization experiences in Eastern Europe so far, in particular with respect to the relation between alternative privatization methods, the evolution of ownership after privatization and restructuring. The second is to draw...

This paper begins from the proposition that 'deep restructuring' requires both finance and managerial expertise. It addresses the question of how this second stage of enterprise restructuring will come about in the majority of state-owned or former state-owned firms that are not owned by...