Privatization: An Economic Analysis (Regulation of Economic Activity) (M I T PRESS SERIES ON THE REGULATION OF ECONOMIC ACTIVITY) - Hardcover

Vickers, John; Yarrow, George

9780262220330: Privatization: An Economic Analysis (Regulation of Economic Activity) (M I T PRESS SERIES ON THE REGULATION OF ECONOMIC ACTIVITY)

Hardcover

ISBN 10: 0262220334 ISBN 13: 9780262220330

Publisher: Mit Pr, 1988

This comprehensive analysis of the British privatization program offers insights into recent policies on privatization, competition, and regulation in a country that has by far the greatest experience with this growing worldwide phenomenon.

The process of selling assets and enterprises to the private sector raises theoretical questions about natural monopolies, the efficiency and equity of state owned versus privately-owned enterprises, and industrial policy. Privatization explores these questions both theoretically and empirically.

After providing theoretical perspectives on the economics of ownership, competition, and regulation, the authors assess privatization policies in key industries: telecommunications, energy, transport, and water. They argue that the government's haste to transfer ownership reflects a misplaced priority, and that the main thrust of policy should be to improve industrial efficiency by stimulating competition and, providing effective regulation.

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About the Author:

Sir John Vickers is Drummond Professor of Political Economy at Oxford University.

Review:

"This book should be required discomfort for the Government'sarmy of advisers, and is guaranteed to give sleepless nightsto any potential regulator." Max Wilkinson , Financial Times

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