data permit us to track the privatization process and to estimate the impact of privatization within industry-year cells … majority privatized versus state-owned firms. The gap increases with time since privatization, reaching about 15-17% five years … after privatization. It also increases with calendar time although recent privatizations are associated with smaller …

and legal reasons. There is some hesitation about privatization, as for foreign direct investment, and, where accepted …, about the precise timing. Where privatization of basic service monopolies occurs, the role of the state shifts towards a …