Should Privatization Proceeds Be Viewed in Terms of Revenue or Financing?

The purpose of privatization programs, launched by industrial and developing country governments alike, is to redeploy assets from the public sector to the private sector-where they are expected to be used more efficiently. If this is the case, privatization can enhance welfare and lead to a permanent increase in the aggregate level of output. While privatization programs are not meant to fill holes in the bu...

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