ABSTRACT ABOUT LIBERALIZATION, PRIVATIZATION, GLOBALIZATION Liberalization- a relaxation of previous government restrictions, usually in areas of social or economic policy.

Privatization - is the incidence or process of transferring ownership of business from the public sector (government) to the private sector (business). Globalization- Globalization is often used to refer to economic globalization, that is, integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology