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Introduction.- Economic Growth and Efficiency.- Growth theories and empirical growth studies.- The impact of privatization on output.- Social security and privatization.- Summary.- The Politics of Privatization.- Political-economy theories of macroeconomic policymaking.- Government behavior and privatization.- Summary.- Fiscal Considerations of Privatization.- The intertemporal budget constraint.- Ricardian equivalence.- The one period budget constraint.- Fiscal motives of large industrialized economies: privatization in Germany and EMU.- Summary.- Macroeconomic Considerations of Privatization.- Monetary aggregates and inflation.- Balance-of-payments crises.- Employment considerations of privatization.- Political considerations and retrenchment benefits: the case of Pakistan.- Summary.- Modeling the Effects of Privatization.- Outline of the framework.- Baseline scenario.- Privatization scenarios.- Summary.- Appendix.- Coming Full Circle: The Case of Jamaica.- Background.- The role of the government and Jamaica`s growth puzzle.- Jamaica`s political system and half-hearted reforms.- Summary.- Summary and Conclusion.- References.
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