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This book approaches privatization from a multidisciplinary and multisectoral point of view, emphasizing the process' legal and policy dimensions. It draws on the experience of countries on every continent to illustrate specific problems, issues, and solutions; and seeks to reveal the dynamic character of this relatively new process, demonstrate the complexity of the problems arising, and examine the efficacy of attempted solutions. The sequencing of the chapters follows the sequencing of steps in preparing a privatization program. First described is the backdrop to privatization, followed by a discussion of the broad design principles of a privatization strategy. Next examined is the constitutional, legal, and regulatory framework: what was it before privatization began, and how much must it be altered to allow or to facilitate privatization operations? Following this in-depth diagnosis is an analysis of the key provisions authorizing and regulating the privatization process and a description of the institutions and actors involved. A discussion of the privatization of infrastructure sectors precedes the concluding chapter. Major themes include: determining the strategy's objective beforehand; and examining the rules and laws governing the market economy, the private sector, the privatization process, the institutional framework for implementing privatization, and strategic and economic issues unique to each sector before privatization is implemented. Appendixed are privatization laws and regulations enacted in over 100 different countries.

Publisher: World Bank

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