Privatization has dominated industrial
restructuring programs since the 1980s and continues to
do so. This authoritative and accessible Handbook
considers all aspects of this key issue, including the
theory of privatization; privatization in transition,
developed and developing economics; as well the economic
regulation of privatized industries. The studies in this
volume, introduced by international experts in the field
'presents evidence of the scope and effects of
privatization, and consequently provide the basis for
improving both policy formulation and implementation.
However, they also emphasize that privatization is not
an end in itself. It is argued that for privatization to
be worthwhile and for lasting economic efficiency gains
to be achieved, supporting reforms must accompany most
privatization programs, particularly in the arenas of
corporate governance and capital markets, product market
competition, and state regulatory processes.
Furthermore, several contributions demonstrate that the
degree to which ownership and market liberalization can
be usefully separated, and whether privatization without
either competition or effective regulation is
worthwhile, remain controversial issues. Furnishing the
reader with a comprehensive and lively discussion of
privatization in theory and practice, this Handbook will
be the essential source of information for researchers
in the field, and for a wide-ranging audience including
public policy makers and specialists, development
experts and agencies, international banks, public policy
and regulation economists, and management
consultants.
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