Contents

Preface

INTRODUCTION

I.	ORIGIN AND GROWTH OF THE SOEs

II.	THE TURN TOWARDS PRIVATIZATION

III.	THE RATIONALE FOR PRIVATIZATION
	1. Economic efficiency
	2. Fiscal balances
	3. Distributional equity

IV.	EVALUATING THE IMPACT OF CHANGES IN OWNERSHIP
	1. Major cross-country studies
	2. Impact on efficiency: Latin American privatization
	3. Employment effects
	4. Fiscal impact
	5. Impact on distributional equity

V.	LESSONS FROM PRIVATIZATION IN DEVELOPING COUNTRIES

Fig.1

Privatization proceeds in developing countries, 1988-1997

Tab.1

Changes in performance between 1993 and 1995