Abstract

Executive Summary Multinational corporations (MNCs) can find lucrative opportunities to invest in emerging-market countries by participating in the privatization of state-owned enterprises. The ability of MNCs to form joint ventures or acquire state enterprises in most countries, however, depends on the characteristics of the government's privatiza-tion policies and plans, the pace of their implementation, and the mechanisms allowed for foreign investment. In order to assess the feasibility of privatization policies in emerging-market countries, and especially those undergoing dynamic reforms of their economies, MNCs need a framework for analyzing privatization efforts. The appli-cation of such a framework is illustrated using the experience with privatization and economic reform in Thailand. © 2000 John Wiley & Sons, Inc.

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