Privatization has been one of the most important elements of public policy in the last decade and there have been massive transfers of ownership from the public to the private sector on a national and international level. In several countries, however, privatization is associated with corruption, greater concentration of economic power in the hands of elites and higher prices to consumers. How Does Privatization Work? combines thematic papers with country case studies to discuss the mechanisms which have enabled this to occur, and to assess privatization's mixed achievements. The authors, international academics, practitioners and consultants, present general papers on the nature and implications of privatization and follow these with detailed analyses of the process of privatization within individual countries such as Nigeria, Pakistan, and Great Britain. They examine official policies and statements of intent and expose the shibboleths of privatization. Though sceptical of the claims of those who trumpet privatization as a panacea for all government problems, the authors make practical suggestions for its improved implementation.
If the overall aim is sustainable human development, privatization can work only with the understanding and support of all those affected: industralists, politicians, civil servants, public enterprise employees, taxpayers and users of public services. This work contributes to that wider understanding and is essential reading for all these groups.