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Governance, Regulation, and Privatization in the Asia-Pacific Region
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Governance, Regulation, and Privatization in the Asia-Pacific Region

Takatoshi Ito and Anne O. Krueger

Abstract

Over the last twenty-five years, there has been an acceleration in the move from government regulation towards privatization. This book provides a 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 yielded its share of difficulties in East Asia. Privatization ... More

Keywords: government regulation, privatization, efficiency, cost effectiveness, corruption, monopoly control, East Asia, corporate governance, market freedom, shareholder expectations

Bibliographic Information

Print publication date: 2004 Print ISBN-13: 9780226386799
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226386966.001.0001

Authors

Affiliations are at time of print publication.

Takatoshi Ito, editor

Anne O. Krueger, editor

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Contents

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Introduction

Takatoshi Ito and Anne O. Krueger

I Overview

1 Privatization and Corporate Governance

Simon Johnson and Andrei Shleifer

2 Antitrust Merger Policy Lessons from the Australian Experience

Philip L. Williams and Graeme Woodbridge

II Country Studies

8 Why Do Governments Dump State Enterprises?

David D. Li and Francis T. Lui

9 Productivity Effects of TVE Privatization

Tetsushi Sonobe and Keijiro Otsuka

III Sectoral Privatization and Regulation

12 The Japanese Experience with Railway Restructuring

Fumitoshi Mizutani and Kiyoshi Nakamura

14 How to Restructure Failed Banking Systems

Charles W. Calomiris and Joseph R. Mason