Privatization is an important element of the movement toward a greater market orientation in many nations.

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Privatization involves the transfer of ownership and control of state-owned assets to private individuals or companies, increasing their involvement in the market economy. It is often seen as a way to introduce more competition, efficiency, and innovation into various sectors, as well as to raise revenue for public coffers. Therefore, it is commonly associated with the broader trend of economic liberalization and deregulation that has characterized many countries since the 1980s.

Privatization Is an Important Element of the Movement Toward a Greater