This paper identifies product market competition as a fundamental impetus for privatization. Based on the economy with the largest state sector and shocks to product market competition caused by its trade liberalization, we explore whether and how competition affects privatization. We find that...

Introduction, by R. W. Bartlett.--Can capitalism compete? By R. W. Miller.--The growth of competition, by S. H. Slichter.--Free economy versus planned economy, by L. Erhard.--Confusion of tongues on the question of the economic order, by L. Erhard.--Latest from inside Russia, by J. Fromm.--New...