Privatisation Across the Globe - A Review

Abstract

This paper sheds light on privatisation as a global phenomenon rather than a forced policy on particular segments of the world. A simple and comprehensive review of literature about the privatisation across the world exhibits that privatisation has been implemented for different reasons. Privatisation in developed economies is political, whereas it is usually economic cum political in developing countries. Privatisation is a mediocre-success in the economies of transition, but a failure in most of the African economies. India adopted privatisation as a part and parcel of its economic reform and structural adjustment programme, but unable to carry out the programme in a required speed owing to multi-party governments with significant role of communist parties. The privatisation experimented across the globe offers not only a review, but also a lesson to many countries which are yet to go a long journey in privatisation.