Sustainable Privatization Framework with Special Reference to India and Emerging Democratic Economies

Abstract

Privatization, as a policy, faced lot of resistance and risks for government while privatizing state enterprises. Emerging democracies faces a relatively different challenges to privatization in comparison with developed countries. The success of privatization is different in different countries. The mammoth research on privatization rarely discussed the sustainability of privatization policy in the democratic system. In this context, this research would like to find an answer to what are the factors that influence sustainability of privatization? There exists a need for a holistic framework for sustainable and soft implementation of privatization plans. In this context, this research becomes highly relevant for such countries which are struggling in privatization of their state enterprises. This conceptual research article, is a qualitative research done, on emerging democratic economies, in an effort to identify the factors which influence sustainability of the privatization of public sector enterprises, using secondary literature. The proposed framework would like to answer the multidimensional external and internal challenges arising from politics, economy, stock market, society, labor unions, privatization process and method.