Governance, regulation, and privatization in the Asia-Pacific Region (University of Chicago Press, 2004)
"This volume contains edited versions of papers presented at the NBER's East Asia Seminar on Economics twelfth annual conference, held in Hong Kong, June 28-30, 2001"--Ackn
Includes bibliographical references and indexes
Introduction - Takatoshi Ito - Anne O. Krueger -- - I. OVERVIEW -- - Privatization and corporate governance - Simon Johnson - Andrei Shleifer -- - Antitrust merger policy: lessons from the Australian experience - Philip L. Williams - Graeme Woodbridge -- - Using markets to help solve public problems - John McMillan -- - II. COUNTRY STUDIES -- - Recent developments in the public-enterprise sector of Korea - Il Chong Nam -- - The Korean economic crisis and corporate governance system - Sung Wook Joh -- - Sources of corporate financing and economic crisis in Korea: micro-evidence - Youngjae Lim -- - Initial pulic offering and corporate governance in China's transitional economy - Chen Chien-Hsun - Shih Hui-Tzu -- - Why do governments dumpt state enterprises? Evidence from China - David D. Li - Francis T. Lui -- - Productivity effects of TVE privatization: the case study of garment and metal-casting enterprises in the greater Yangtze River Region - Tetsushi Sonobe - Keijiro Otsuka -- - Government commitment and the outcome of privatization in China - Yang Yao -- - III. SECTORAL PRIVATIZATION AND REGULATION -- - Rail reform strategies: the Australian experience - Helen Owens -- - The Japanese experience with railway restructuring - Fumitoshi Mizutani - Kiyoshi Nakamura -- - What has been achieved in the Japanese telecommunications industry since 1985? - Tsuruhiko Nambu -- - How to restructure failed banking systems: lessons from the United States in the 1930s and Japan in the 1990s - Charles W. Calomiris - Joseph R. Mason -- - Banks, bailout guarantees, and risky debt - Aaron Tornell
Over the last twenty-five years, there has been an acceleration in the move from government regulation towards privatization. Governance, Regulation, and Privatization in the Asia-Pacific Region is the first thoroughgoing account of the relative success of the different approaches to privatization as undertaken in Korea, China, Australia, and Japan. In most contexts, privatization is expected to yield greater efficiency and cost effectiveness while avoiding the corruption and bloated budgets of government regulation or monopoly control. But broad-scale privatization, if ill designed, has also