Governance, regulation, and privatization in the Asia-Pacific Region

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University of Chicago Press,
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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 yielded its share of difficulties in East Asia. Privatization sometimes has created a vacuum in corporate governance for some of the region's most important industries and in some cases merely reinstated the monopoly-like configurations. The papers presented in this book discuss the experiences of privatization in several industries, including railroad and telecom, corporate governance problems, accounting issues, and challenges for the future in East Asian countries.The first section is theoretical in nature and proposes boundaries among government protection, market freedom, and shareholder expectations. The second part is constituted by country case studies, beginning with an analysis of both the Korean financial crisis that followed its 1997 law to privatize large, public sector corporations and the new ways Korean corporations finance themselves. Following is an evaluation of China's approach to privatization, with an in-depth look at the financial transitions of companies slated for initial public offering.Providing provocative examples of the methods of privatization in the Asia-Pacific region specifically, these papers will be of huge import to any economist or policymaker interested in transposing those successes for their own region.
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full_title governance regulation and privatization in the asia pacific region
author takatoshi ito and anne o krueger
grouping_category book
lastUpdate 2017-08-14 05:04:28AM

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author_additional Aaron Tornell., Andrei Shleifer --, Anne O. Krueger --, Charles W. Calomiris,, Chen Chien-Hsun,, David D. Li,, Francis T. Lui --, Fumitoshi Mizutani,, Graeme Woodbridge --, Helen Owens --, Il Chong Nam --, John McMillan --, Joseph R. Mason --, Keijiro Otsuka --, Kiyoshi Nakamura --, Philip L. Williams,, Shih Hui-Tzu --, Simon Johnson,, Sung Wook Joh --, Takatoshi Ito,, Tetsushi Sonobe,, Tsuruhiko Nambu --, Yang Yao --, Youngjae Lim --, edited by Takatoshi Ito and Anne O. Krueger.
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physical xi, 470 p. : ill. ; 24 cm.
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series NBER-East Asia Seminar on Economics
series2 NBER-East Asia seminar on economics ;
series_with_volume NBER-East Asia Seminar on Economics|v. 12.
table_of_contents Antitrust merger policy: lessons from the Australian experience /, Banks, bailout guarantees, and risky debt /, Government commitment and the outcome of privatization in China /, How to restructure failed banking systems: lessons from the United States in the 1930s and Japan in the 1990s /, Initial pulic offering and corporate governance in China's transitional economy /, Privatization and corporate governance /, Productivity effects of TVE privatization: the case study of garment and metal-casting enterprises in the greater Yangtze River Region /, Rail reform strategies: the Australian experience /, Recent developments in the public-enterprise sector of Korea /, Sources of corporate financing and economic crisis in Korea: micro-evidence /, The Japanese experience with railway restructuring /, The Korean economic crisis and corporate governance system /, Using markets to help solve public problems /, What has been achieved in the Japanese telecommunications industry since 1985? /, Why do governments dumpt state enterprises? Evidence from China /
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title Governance, regulation, and privatization in the Asia-Pacific Region
title_display Governance, regulation, and privatization in the Asia-Pacific Region
title_full Governance, regulation, and privatization in the Asia-Pacific Region [electronic resource] / edited by Takatoshi Ito and Anne O. Krueger
title_short Governance, regulation, and privatization in the Asia-Pacific Region
title_sort governance, regulation, and privatization in the asia-pacific region