ABSTRACT
A major determinant is the very efficiency of private enterprise in the country. It is referred as the domestic entrepreneurs and managers and not the multinationals. In the near future people are most likely to witness a steep increase in the number of joint ventures between the government and private capital. This will be due to: partial divestitures, the induction of private capital in public enterprises and/or the formation of new joint venture companies. In some cases the development strategy might be within reach, but the government translates it to public enterprise in a manner that leads to financial losses. If the future of public enterprise lies merely in its disappearance, our conclusions will be limited to the implications of divestiture. In many countries the latter has aimed at higher goals than could be achieved and public enterprise has been created as the main agency to realise the goals.
