n African Journal of Business and Economic Research - Is privatization the answer?

Volume 3, Issue 2_3
  • ISSN : 1750-4554
  • E-ISSN: 1750-4562


Privatization has become a global phenomenon in the last decade. This paper reviews the privatization literature with a particular reference to developing countries in general and Sub Saharan Africa in particular. Toward this end, the paper offers critiques of both the theoretical and empirical foundation of the privatization literature. The review suggests change of ownership alone is not sufficient to ensure economic efficiency, and that the market structure, competition and regulatory infrastructure are more important than ownership per se. The issue then is not just reducing the role of the state or by-pass government or which is better (private or public) but even more important, who is better at doing what and how to make government more accountable.

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