Privatization Public Ownership And The Regulation Of Natural Monopoly

Author : Christopher D. Foster
Publisher : Wiley-Blackwell
Page : 480 pages
File Size : 44,6 Mb
Release : 1992
Category : Government ownership
ISBN : UCAL:B4385141

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Privatization, Public Ownership, and the Regulation of Natural Monopoly by Christopher D. Foster Pdf

C.D. Foster drawing on his enormous experience in Government, industry and academia, has written a most comprehensive study of privatization policy under the Conservative Government of the last 2 years. In this lucid, non-technical work, Foster draws on the history of state intervention, regulation, and nationalization of industries that were argued to be natural monopolies, for example, the railways. The failure of nationalized industries, Foster argues, is rooted not only in inefficiency, but in the lack of any clear performance indicators of what such public enterprises should be achieving. These observations open out his book into a discussion of the development of privatization under Mrs Thatcher (not apparently part of a big plan, but more a muddling through of policy ideas). Subsequently Foster contrasts the legal and economic construction of regulation in the US to the looser rein of the new British style of regulation. The remaining chapters evaluate the performance and regulation of the newly privatized enterprises and Foster finds that on balance the new regulatory structures are workable and have avoided many of the problems of the past. Foster's scholarly and measured, yet accessible book is a moderate defence of what became a central ideological plank of Thatcherism. He calls for a carefully thought through planning of regulation where other States are thinking of privatizing their public enterprises. He also discusses how far the same objectives can be achieved through public enterprise reform. This book, given the wealth of detail about public policy should appeal greatly to lawyers, economists and political scientists, as well as those on courses in public administration and other professionals.

Author : John Vickers,George K. Yarrow
Publisher : Unknown
Page : 108 pages
File Size : 49,9 Mb
Release : 1985
Category : Electric utilities
ISBN : UOM:39015010401209

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Privatization and the Natural Monopolies by John Vickers,George K. Yarrow Pdf

Author : Ralph Bradburd
Publisher : World Bank Publications
Page : 48 pages
File Size : 44,7 Mb
Release : 1992
Category : Government business enterprises
ISBN : 8210379456XXX

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Privatization of Natural Monopoly Public Enterprises by Ralph Bradburd Pdf

Author : Markus Aßner
Publisher : GRIN Verlag
Page : 33 pages
File Size : 42,5 Mb
Release : 2007-09
Category : Electronic
ISBN : 9783638782128

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Privatisation and Regulation by Markus Aßner Pdf

Seminar paper from the year 2004 in the subject Economy - Theory of Competition, Competition Policy, grade: 1, University of Ulster (School of Business Organisation and Management), course: Business Economics, 12 entries in the bibliography, language: English, abstract: Index Introduction 1. The market forces argument 4 2. Breakdown of the market forces argument in natural monopolies 6 3. Economic key issues which regulators of privatised industries should consider 8 4. References 12 Introduction This essay covers some issues of privatisation and regulation. It is divided into three parts. Part one gives a brief outline of the author s understanding of the market forces argument for privatisation. In the second part it is explained what is meant by a natural monopoly and why the market forces argument does not hold if an industry is a natural monopoly. The third part then discusses which economic key issues should be considered by the regulatory body of a privatised industry. Privatisation is the transfer of public ownership away from the state to private ownership. Regulation is a limitation on the behaviour of firms or organizations, imposed by the government. From the view of competition it is the aim to remove market distortions which are caused by public enterprises and regulations (Case K. et al. 1999: 356.)

Author : Mary M. Shirley,Patrick P. Walsh
Publisher : World Bank Publications
Page : 72 pages
File Size : 46,9 Mb
Release : 2000
Category : Competition
ISBN : 8210379456XXX

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Public Versus Private Ownership by Mary M. Shirley,Patrick P. Walsh Pdf

Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance?

Author : Richard Schmalensee
Publisher : Free Press
Page : 200 pages
File Size : 42,8 Mb
Release : 1979
Category : Business & Economics
ISBN : UOM:39015008532247

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The Control of Natural Monopolies by Richard Schmalensee Pdf

Author : Richard A. Posner
Publisher : Cato Institute
Page : 131 pages
File Size : 49,7 Mb
Release : 1999-04-01
Category : Political Science
ISBN : 9781933995823

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Natural Monopoly and Its Regulation by Richard A. Posner Pdf

Natural monopolies exist in those markets in which demand can be satisfied at lowest cost by the output of only one rather than several competing firms. Under such conditions, conventional wisdom suggests that government regulation must substitute for competition to discipline the behavior of firms. Thirty years ago a young professor named Richard Posner asked the provocative question of whether the existence of natural monopoly provides adequate justification for government intervention. His even more provocative answer was no. The evils of natural monopoly are exaggerated, the effectiveness of regulation in controlling them is highly questionable, and regulation costs a great deal. "The resources and energies of government should be directed to problems we know are substantial, that we think are traceable to government action, and that cannot be left to the private sector to work out. There are plenty of those problems, and it is doubtful that natural monopoly is among them." Thirty years after its initial publication, read the original insights of Richard Posner about the regulation of natural monopoly as well as a new preface in which Posner reflects on the deregulation of industries that has occurred since 1969 and the possibilities for more deregulation in the future."

Author : M. E. Beesley
Publisher : Psychology Press
Page : 509 pages
File Size : 44,8 Mb
Release : 1997
Category : Business & Economics
ISBN : 9780415164528

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Privatization, Regulation and Deregulation by M. E. Beesley Pdf

This volume collects Professor Michael Beesley's most important work in the area of privatization. He advised the government on forthcoming legislation on telecoms, buses, and water, as well as advising new regulators. Now in its second edition, the book includes the experience of privatization in Australia, and the lessons we can learn from them. Throughout, the author remains critical of the policies adopted, but always with corresponding suggestions for improvement. This insider view should be a valuable guide for all those interested in current developments in privatization.

Author : Sanford V. Berg,John Tschirhart
Publisher : Cambridge University Press
Page : 580 pages
File Size : 52,5 Mb
Release : 1989-01-27
Category : Business & Economics
ISBN : 052133893X

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Natural Monopoly Regulation by Sanford V. Berg,John Tschirhart Pdf

Considered the cutting edge of microeconomic theory in the 1970s, natural monopoly research remains an active and fertile field. Policy makers and regulators have begun to implement entry and pricing policies that are based on theoretical and empirical analyses. This book develops a comprehensive framework for analyzing natural monopoly. The authors first present a historical overview of regulatory economics, followed by analyses of optimal pricing and investment for single- and multiproduct natural monopolies. Topics covered include cost and demand structures, efficiency impacts of linear and multipart pricing, peak-load pricing, capacity determination, and the sustainability of natural monopolies. After a survey and analysis of natural monopoly regulation in practice, the links between technological change and regulation are identified. The book concludes with a discussion of the alternatives to traditional regulation, including public ownership, franchise schemes, quality regulation, and new incentive systems. Throughout the book, issues from the telecommunications and energy industries are used to illustrate key points. Its integrated framework will make it useful to academic economists, regulatory analysts, business researchers, and advanced students of public utility economics.

Author : John Vickers,George K. Yarrow
Publisher : MIT Press
Page : 476 pages
File Size : 46,9 Mb
Release : 1988
Category : Business & Economics
ISBN : 0262720116

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Privatization by John Vickers,George K. Yarrow Pdf

The process of selling assests and enterprises to the private sector raises questions about natural monopolies, the efficiency and equity of state-owned versus privately owned enterprises, and industrial policy. This comprehensive analysis of the British privatization program explores these questions both theoretically and empirically.

Author : Paul Cook,Colin H. Kirkpatrick
Publisher : Edward Elgar Publishing
Page : 728 pages
File Size : 49,8 Mb
Release : 2000
Category : Government ownership
ISBN : UCSD:31822029733201

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Privatisation in Developing Countries by Paul Cook,Colin H. Kirkpatrick Pdf

In the last decades of the 20th century, privatization has been a key policy instrument in the move to more market-based economic systems in all parts of the developing world. Privatization, however, has not necessarily been accompanied by an increase in market competition. Many public utilities have been privatized as monopolies and in addition regulatory systems have been developed to restrict their market power and protect the interests of consumers. This volume brings together a collection of papers that provide theoretical and empirical insights into privatization and regulation, as well as policy perspectives in relation to developing countries.

Author : Martin C. Stewart-Smith
Publisher : World Bank Publications
Page : 60 pages
File Size : 54,5 Mb
Release : 1995
Category : Electricidad
ISBN : 8210379456XXX

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Industry Structure and Regulation by Martin C. Stewart-Smith Pdf

Author : V. V. Ramanadham
Publisher : Routledge
Page : 264 pages
File Size : 50,9 Mb
Release : 2002-02-07
Category : Business & Economics
ISBN : 9781134834150

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Privatization and After by V. V. Ramanadham Pdf

Privatization and After discusses the need to monitor privatization. The authors argue that monitoring will show whether or not the process is fulfilling its objectives and contributing to improved economic performance. The book also assesses the need for, and techniques of, regulating privatized enterprises in situations of continuing monopoly or significant market control. This is supported by an in-depth analysis of regulation in the UK and its implications for developing countries. Further illustrative material is drawn from a range of developed, developing and former socialist countries.

Author : Paul W. Macavoy,W.T. Stanbury,George Yarrow,Richard Zeckhauser
Publisher : Springer Science & Business Media
Page : 366 pages
File Size : 40,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401174299

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Privatization and State-Owned Enterprises by Paul W. Macavoy,W.T. Stanbury,George Yarrow,Richard Zeckhauser Pdf

The book is divided into three major sections. The first presents a theoretical discussion that underlies the other essays. The second section deals with privatization issues from the perspective of the United States. The third describes research addressed to the U. K. and Canada. In the first chapter, Richard Zeckbauser and Murray Horn develop a wide-ranging theoretical framework for assessing the capabilities and role of state-owned enterprises; it provides a foundation for the analyses that follow. In The Control and Perfonnance o[ State-Owned Enterprises , they describe state-owned enterprises as an extreme case of the separation of ownership and control. The focus is on management --the incentives it faces and the conflicts to which it is subjected. The distinguishing characteristics of public enterprise, the authors suggest, give it a comparative advantage over both public bureaucracy and private enterprise in certain situations. They argue that legislators are more likely to prefer SOEs over private enterprise when the efficiency of private enterprise is undermined by regulation or the tbreat of opportunistic state action, when the informational demands of subsidizing private production to meet distributional objectives are high, when it is difficult to assign property rights, or when state ownership is ideologically appealing. These considerations suggest why SOEs are usually assigned special rights and responsibilities, and they help explain observed regularities in the distribution of SOEs across countries and sectors. Zeckhauser and Horn apply principal-agent theory to identify the key factors underlying the performance of state-owned enterprises.

Author : Mr.Richard Hemming,Mr.Ali M. Mansoor
Publisher : International Monetary Fund
Page : 34 pages
File Size : 45,7 Mb
Release : 1998-09-15
Category : Business & Economics
ISBN : 155775005X

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Privatization and Public Enterprises by Mr.Richard Hemming,Mr.Ali M. Mansoor Pdf

This paper examines the role that privatization can play within a wider strategy designed to overcome the problems associated with public enterprises. For this purpose, privatization is defined as a transfer of ownership and control from the public to the private sector, with particular reference to asset sales. It is therefore equated with total or partial denationalization. Economic efficiency is not only the key to improving the performance of the public enterprise sector, but is also the source of other gains often attributed to privatization, in particular, its favorable budgetary impact. To public enterprises that are subject to national or international competition, privatization offers the possibility of increased productive efficiency as government financial backing is withdrawn and bankruptcy and takeover become possibilities. The admissibility and desirability of privatization, as well as what types of enterprise should be privatized, ought to be determined by similar considerations in both industrial and developing countries.