Privatisation, i.e. the transfer of ownership and control of state-owned enterprises, is a worldwide phenomenon. Which … of privatisation method appear to be influenced by the governing political majority and public sector budget constraints …, while the success of privatisation in terms of revenues and stakes sold requires suitable institutions and developed capital …

This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over … the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic … budget constraints. But the extent of privatisation in terms of revenues and stakes sold appears more limited in civil law …