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Management Notes

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Difference between Liberalization and Privatization

Difference between Liberalization and Privatization: Liberalization is the removal or loosening of restrictions on something, typically an economic or political system. Liberalization refers to the relaxation of government restrictions in areas of economic policies. When the government liberalizes trade, it means it has removed the tariff, subsidies and other restrictions on the flow of goods and services between companies.

Privatization is the process of transferring an enterprise or industry from the public sector to the private sector. In the international context privatization typically refers to the denationalization of government-run industries. In the international context privatization typically refers to the denationalization of government-run industries. Privatization means replacing government monopolies with the competitive pressure of the marketplace to encourage efficiency, quality, and innovation in the delivery of goods and services.

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