Privatization has been a key element of structural reform in many developing and transition economies during the last … decade. This paper examines the fiscal and macroeconomic issues involved in the privatization of nonfinancial public … enterprises in these economies. It considers issues such as the factors determining the proceeds from privatization and the amount …

associated with public enterprises. For this purpose, privatization is defined as a transfer of ownership and control from the …This paper examines the role that privatization can play within a wider strategy designed to overcome the problems … source of other gains often attributed to privatization, in particular, its favorable budgetary impact. To public enterprises …

conflict between outside and controlling shareholders. It may self-regulate the two parties involved in a control contract. The …

We interpret privatization in light of corporate governance theory. After replicating some traditional tests, we test … whatever positive value accrues from privatization is affected by the contextual, organizational, governance, and strategic … variables that influence the privatization process. …