The Inconvenient Truth: Privatisation changes ownership, corporatisation changes governance, only human behaviour changes outcomes
In Africa and the developing world, privatisation is seen as a fix for inefficient state-owned enterprises, while corporatisation is a compromise of public ownership and private discipline.
The evidence shows ownership sets legal responsibility, governance ensures accountability, and human behaviour determines performance.
We often focus on ownership because it's visible, but governance and human behaviour, which are less obvious, are more crucial.
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