Download or read book Regulation and Deregulation in Industrial Countries written by Ralph Bradburd and published by World Bank Publications. This book was released on 1991 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: How regulatory misdirection often derailed efforts to offset market failure in the United States, and the implications for policy in developing countries.

Download or read book Regulation and Deregulation in Industrial Countries written by Ralph Bradburd and published by . This book was released on 1991 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Freer Markets More Rules written by Steven K. Vogel and published by Cornell University Press. This book was released on 2018-05-31 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years, the United States, Western Europe, and Japan have transformed the relationship between governments and corporations. The changes are complex and the terms used to describe them often obscure the reality. In Freer Markets, More Rules, Steven K. Vogel dispenses with euphemisms and makes sense of this recent transformation. In defiance of conventional wisdom, Vogel contends that the deregulation revolution of the 1980s and 1990s never happened. The advanced industrial countries moved toward liberalization or freer markets at the same time that they imposed reregulation or more rules. Moreover, the countries involved did not converge in regulatory practice but combined liberalization and reregulation in markedly different ways. The state itself, far more than private interest groups, drove the process of regulatory reform. Thus, the story of deregulation is one rich in paradox: a movement aimed at reducing regulation increased it; a movement propelled by global forces reinforced national differences; and a movement that purported to reduce state power was led by the state itself. Vogel's astute and far-reaching analysis compares deregulation in Britain and Japan, with special attention to the telecommunication and financial services industries. He also considers such important sectors as broadcasting, transportation, and utilities in the United States, France, and Germany.

Download or read book The Palgrave Encyclopedia of Strategic Management written by and published by Palgrave Macmillan. This book was released on 2018-05-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Palgrave Encyclopedia of Strategic Management has been written by an international team of leading academics, practitioners and rising stars and contains almost 550 individually commissioned entries. It is the first resource of its kind to pull together such a comprehensive overview of the field and covers both the theoretical and more empirically/practitioner oriented side of the discipline.

Download or read book Freer Markets More Rules written by Steven Kent Vogel and published by . This book was released on 1996 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Costs and Benefits of Regulation written by Luis J. Guasch and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: June 1997 This paper examines the economic impact of regulation in industrial and developing countries. It argues that economic analysis can play an important role in restructuring regulated industries and developing more effective regulations, and in reducing politically driven regulation and capture. The past two decades have seen an unparalleled rise in new health, safety, and environmental regulations in industrial countries. At the same time, in some countries there has been substantial economic deregulation of several industries (including airlines, railroads, trucking, energy, telecommunications, and financialmarkets). Developing countries are engaged in deregulating some sectors of the economy and devising new regulatory frameworks for others. After reviewing the literature, Guasch and Hahn provide an overview of the costs and benefits of regulation throughout the world, highlight the potential gains from reform of regulation and deregulation in both industrial and developing countries, draw lessons from experience with government regulation, and suggest how to improve regulation in developing countries. They find that it is possible to explore systematically the costs and benefits of regulatory activities using standard economic analysis. They conclude that regulation - especially regulation aimed at controlling prices and entry into markets that would otherwise be workably competitive - can limit growth and significantly reduce economic welfare. Although unnecessary process regulation can hurt the economy, social regulations may significantly benefit the average consumer. But some regulations do not meet goals effectively and may sometimes reduce living standards. Developing countries can consider several regulatory policies, tools, and frameworks to improve their approach to regulation. What they choose will depend on available administrative expertise and resources, as well as political constraints and economic impacts. Generally, local and national capabilities for evaluating regulation need to be improved. Regulation is not generally undesirable, but it often has undesirable economic consequences, which result in part from political forces to redistribute wealth. These forces need can be mitigated by more sharply evaluating the consequences and tradeoffs of proposed regulations. This paper - a joint product of the Office of the Chief Economist and Senior Vice President, Development Economics and the Advisory Group, Latin America and the Caribbean Technical Department - was produced as a background paper for World Development Report 1997 on the role of the state in a changing world.

Download or read book Product Market Deregulation and Growth written by Romain Bouis and published by International Monetary Fund. This book was released on 2016-06-09 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates the economic effects of major product market reforms in some of the historically most protected non-manufacturing industries. It relies on a unique mapping between new annual data on reform shocks and sector-level outcomes for five network industries (electricity and gas, land transport, air transport, postal services, and telecommunications) in twenty-six countries spanning over three decades. The use of a threedimensional panel and careful instrumentation of reform shocks using external instruments enables us to control for economy-wide macroeconomic shocks and address possible sources of omitted variable bias more broadly. Using a local projection method, we find that major reductions in barriers to entry yield large increases in output and labor productivity over a five-year horizon, concomitant with a relative price decline. By contrast, there is only a weak positive effect on sectoral employment, and investment is essentially unaffected, suggesting that output gains from reform primarily reflect higher total factor productivity. It takes some time for these gains to materialize: effects become statistically significant two to three years after the reform, as prices start dropping, and productivity and output increase significantly. However, there is no evidence of any negative short-term cost from reform, including under weak macroeconomic conditions. These findings provide a clear case for intensifying product market reform efforts in advanced economies at the current juncture of weak growth.

Download or read book Employment Protection Deregulation and Labor Shares in Advanced Economies written by Gabriele Ciminelli and published by International Monetary Fund. This book was released on 2018-08-16 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies since the early 1990s. This paper assesses the impact of job protection deregulation in a sample of 26 advanced economies over the period 1970-2015, using a newly constructed dataset of major reforms to employment protection legislation for regular contracts. We apply the local projection method to estimate the dynamic response of the labor share to our reform events at both the country and the country-industry levels. For the latter, we employ a differences-in-differences identification strategy using two identifying assumptions grounded in theory—namely that job protection deregulation should have larger negative effects in industries characterized by (i) a higher “natural” propensity to adjust the workforce, and (ii) a lower elasticity of substitution between capital and labor. We find a statistically significant, economically large and robust negative effect of deregulation on the labor share. In particular, illustrative back-of-the-envelope calculations suggest that job protection deregulation may have contributed about 15 percent to the average labor share decline in advanced economies. Together with existing evidence regarding the macroeconomic gains from job protection and other labor market reforms, our results also point to the need for policymakers to address efficiency-equity trade-offs when designing such reforms.

Download or read book Financial Deregulation written by Alexis Drach and published by Oxford University Press. This book was released on 2021-05-20 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: A wave of liberalization swept the developed world at end of the twentieth century. From the 1970s and 1980s onwards, most developed countries have passed various measures to liberalize and modernize the financial markets. Each country had its agenda, but most of them have experienced, to a different extent, a change in regulatory regime. This change, often labeled deregulation and associated with the advent of neoliberalism, was sharply contrasting with the previous era of the Bretton Woods system, which has sometimes been portrayed as an era of financial repression. On the other hand, a quick glance at financial regulation today - at the amount of paper it produces, at its complexity, at the number of people involved, and at the resources invested in it - is enough to say that, somehow, there is more regulation today than ever before. In the new system, financial regulation has taken unprecedented importance. As more archival material is becoming available, a better understanding of the fundamental changes in the regulatory environment towards the end of the twentieth century is now possible. What kind of change exactly was deregulation? Did competition between financial regulators lead to a race to the bottom in regulation? Is deregulation responsible for the recurring financial crises which seem to have characterised the international financial system since the 1980s? The movement towards a more liberal regulatory regime was neither linear nor simple. This book - a collection of chapters studying deregulation in various countries and contexts - examines the national and international pathways of deregulation by providing an in-depth analysis of a short but crucial period in a few major countries.

Download or read book Privatization and Deregulation in Global Perspective written by Dennis J. Gayle and published by Praeger. This book was released on 1990 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume the leading scholars and practitioners in the field provide a comprehensive, in-depth examination of trends in privatization throughout the world. Focusing primarily on the experiences of seventeen countries--including developing countries, advanced industrial nations, and socialist states--the book explores theoretical approaches toward the issues inherent in privatization and deregulation, specifies techniques for successful privatization, and examines the cost-benefits and limits of privatization policies. The contributors then present a series of twenty detailed case studies which assess the actual problems and prospects associated with privatization and deregulation policy choices across varied sociopolitical systems and a range of economic sectors. The result is the most extensive comparative public policy analysis yet published on the subject of privatization and deregulation. Following an introductory overview which addresses the interaction between privatization, deregulation and market liberalization within both developed and developing country policy environments, the contributors discuss the philosophical bases of privatization policies, examine the seminal experiences of Britain and the United States, and identify factors responsible for successful privatization efforts. This is followed by case studies of privatization in such sectors as finance, transportation, health care, housing, and telecommunications around the world. After special sectoral studies of developing country finance, debt-equity conversions, and international air transport, the authors successively survey the experience of privatization in selected Latin American, Caribbean, West African and Asian developing nations; in the advanced industrial nations of Canada, France, New Zealand, and Sweden; and in the socialist countries of China, Hungary, and Poland. In their conclusion, the editors discuss the immediate implications of the contributors' findings and suggest research directions for the future. Numerous explanatory tables and figures are included, making this an ideal supplemental text for courses in business, government, and public policy.

Download or read book Regulation Deregulation Reregulation written by Claude Ménard and published by Edward Elgar Publishing. This book was released on 2009 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 25 years of industry restructuring, regulatory reform and deregulation across many industrial sectors in many countries, it is an appropriate time to take stock of the impacts of these reforms on consumers, producers and overall economic performance. This book contains the latest thinking on these issues by a distinguished international group of scholars. It s a collection of essays for our time that is well worth reading. Paul L. Joskow, Massachusetts Institute of Technology, US The most exciting development in the study of regulation in the past quarter century is research on the incentives that are created by the details of the procedures for creating and enforcing regulatory rules. This book brings together a rich collection of studies that collectively advance our understanding of the effect of regulatory governance on the performance of regulated firms, with important lessons about how to design more effective regulatory instruments and processes. Roger G. Noll, Stanford University, US Cycles of poorly-designed or weakly-enforced regulation, disappointing performance and political over-reaction are now familiar to students of regulated industries. Nourished by recent developments in the economics of incentives, including their transaction costs and property rights dimensions, and written by renowned experts in the field, Regulation, Deregulation, Reregulation is a must-read for all those interested in the economics and politics of regulation. A timely book, the publication of which coincides with the designing of a post-subprime regulatory framework for the financial industry. Jean Tirole, Toulouse School of Economics, France Building on Oliver Williamson s original analysis, the contributors introduce new ideas, different perspectives and provide tools for better understanding changes in the approach to regulation, the reform of public utilities, and the complex problems of governance. They draw largely upon a transaction cost approach, highlighting the challenges faced by major economic sectors and identifying critical flaws in prevailing views on regulation. Deeply rooted in sector analysis, the book conveys a central message of new institutional economics: that theory should be continuously confronted by facts, and reformed or revolutionized accordingly. With its emphasis on the institutional embeddedness of regulatory issues and the problems generated by the benign neglect of institutional factors in the reform of major public utilities, this book will provide a wide-ranging audience with challenging views on the dynamics of regulatory approaches. Economists, political scientists, postgraduate students, researchers and policymakers with an interest in institutional economics and economic organization will find the book to be a stimulating and enlightening read.

Download or read book Economic Regulation and Its Reform written by Nancy L. Rose and published by University of Chicago Press. This book was released on 2014-08-29 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.

Download or read book The Age of Regulatory Reform written by Kenneth Button and published by Oxford : Clarendon Press. This book was released on 1989 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of original papers by leading international figures in economics and international business describes the major changes resulting from recent worldwide liberalization of economic markets, and offers analyses of the consequences of reform. Essays include both national studies of the U.S., Canada, Australia, and the U.K. and analysis of the aviation, trucking, busing, energy, finance, and telecommunications sectors of world business.

Download or read book The Theory of Competitive Price written by George Joseph Stigler and published by . This book was released on 1946 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Risk and Return for Regulated Industries written by Bente Villadsen and published by Academic Press. This book was released on 2017-04-27 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and Return for Regulated Industries provides a much-needed, comprehensive review of how cost of capital risk arises and can be measured, how the special risks regulated industries face affect fair return, and the challenges that regulated industries are likely to face in the future. Rather than following the trend of broad industry introductions or textbook style reviews of utility finance, it covers the topics of most interest to regulators, regulated companies, regulatory lawyers, and rate-of-return analysts in all countries. Accordingly, the book also includes case studies about various countries and discussions of the lessons international regulatory procedures can offer. Presents a unified treatment of the regulatory principles and practices used to assess the required return on capital Addresses current practices before exploring the ways methods play out in practice, including irregularities, shortcomings, and concerns for the future Focuses on developed economies instead of providing a comprehensive global reviews Foreword by Stewart C. Myers

Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

Download or read book Global Business Regulation written by John Braithwaite and published by Cambridge University Press. This book was released on 2000-02-13 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: How has the regulation of business shifted from national to global institutions? What are the mechanisms of globalization? Who are the key actors? What of democratic sovereignty? In which cases has globalization been successfully resisted? These questions are confronted across an amazing sweep of the critical areas of business regulation--from contract, intellectual property and corporations law, to trade, telecommunications, labor standards, drugs, food, transport and environment. This book examines the role played by global institutions such as the World Trade Organization, World Health Organization, the OECD, IMF, Moodys and the World Bank, as well as various NGOs and significant individuals. Incorporating both history and analysis, Global Business Regulation will become the standard reference for readers in business, law, politics, and international relations.