20世纪70年代，许多发展中国家的借款方主体是国有企业。在这些国家中，有些是通过把国有企业出售给私人以使经

Much developing country borrowing during the 1970s was carried out by stateowned companies．In some of these countries there have been moves to privatize the economy by selling state companies to private owners．Would the countries have borrowed more or less if their economies had been privatized earlier？