Question: Much developing-country borrowing during the 1970s was carried out by state-owned companies. In some of these countries, there have been moves to privatize the economy

Much developing-country borrowing during the 1970s was carried out by state-owned companies. In some of these countries, there have been moves to privatize the economy by selling state companies to private owners. Would the countries have borrowed more or less if their economies had been privatized earlier?

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