Re: LIBERALISATION, PRIVATIZATION AND GLOBALIZATION -
June 26th, 2015
Definition of Liberalization
In general, liberalization (or liberalisation) refers to a relaxation of previous government restrictions, usually in such areas of social, political and economic policy. In some contexts this process or concept is often, but not always, referred to as deregulation.
Definition of Privatization
Privatization is the process of transferring an enterprise or industry from the public sector to the private sector. The public sector is the part of the economic system that is run by government agencies.
Definition of Globalisation
The process by which businesses or other organizations develop international influence or start operating on an international scale.