Developed and developing countries alike are privatizing or corporatizing state owned enterprises (SOEs), often citing the flexibility to hire and shed labor as an advantage. However, there is little empirical evidence on the extent to which this improves firm performance. This paper...

The authors try to answer important questions. How important is the phasing of political and economic liberalization and the active (versus passive) role of the state in reform? What lessons can be learned about comprehensive top-down reform as opposed to experimental bottom-up reforms; fast...