Privatization and public enterprise reform in the Asia‐Pacific region

T. G. Arun and E. I. Nixson

Journal of the Asia Pacific Economy, 1997, vol. 2, issue 2, 201-224

Abstract: Since 1991 successive Indian governments have been committed to policies of economic reform and liberalization, but India has been one of the least successful countries with respect to public sector enterprise reform and privatization. Direct foreign investment has not played the role in the disinvestment process that was expected, with foreign investors preferring joint ventures with private rather than public sector enterprises. The fact that the disinvestment strategy has had as its major objective revenue generation for the government, plus continued uncertainty over the political commitment to public sector reforms, have added to the problems of reform. Effective reform is constrained by conflicts of interest between different social groups and the absence of an autonomous ‘developmental’ state.

Date: 1997
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DOI: 10.1080/13547869708724617

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