Privatization is one of the most important elements of the continuing global phenomenon of the increasing use of markets to allocate resources. One important motivation for privatization is to help develop factor and product markets, as well as security markets. Among the various factors of...

Privatization — a political as well as an economic policy — is generally defined as the transfer of a property or the responsibility for it from the public to the private sector. But privatization is not merely the transfer of the ownership and efficiency of the market should be considered....