Abstract:
Liberalisation and privatization have been advocated by academics and international regulators as solutions
to promote development in both emerging and advanced nations. However there is not only a failure to perceive
gradations of the process of development, but that new ownership structures and financing techniques are not
necessarily solutions without structural changes in an economy and society. Moreover there are a number of
interacting factors that need consideration when choosing between the method, timing, valuation and structure of
such changes. This paper and puts forward a theoretical argument supported by some empirical evidence that
unless these factors are considered they will constitute barriers to economic and social development.
