After earlier waves of privatization, local governments have increasingly taken back control of local service … provisions in some sectors and countries and, instead, started providing those services themselves (reverse privatization). Using … the years 2003, 2009, and 2015, we investigate motives for reverse privatization. Our results show that, in deciding …

markets grow mature, giving rise to the need for privatization. Buyers' limited wealth imposes a constraint on how and when … privatization takes place. In particular, firms may be underpriced during privatization, and privatization may take place at a sub … privatization may alleviate the constraint in some cases but exacerbates the efficiency loss in others. When the government is …