Privatization: A process of economic transformation in modern economies.

In recent years it is widely believed that an increase in economic activity determined by market forces, contributes to higher productivity, faster economic growth, and lower budget deficits. Developing countries, in particular, are attempting to increase the share of the private sector in their economies in order to accelerate the process of development. This thesis describes the concept of privatization and alternative models of the privatization process. A cross-section of forty-nine countries is utilized to empirically assess the impact of privatization on economic growth.