05617nam 22007454a 450 991045806650332120200520144314.01-281-12579-297866111257900-226-38696-110.7208/9780226386966(CKB)1000000000400458(EBL)408305(OCoLC)476228524(SSID)ssj0000164725(PQKBManifestationID)11153330(PQKBTitleCode)TC0000164725(PQKBWorkID)10124196(PQKB)10104213(StDuBDS)EDZ0000115821(MiAaPQ)EBC408305(DE-B1597)524262(OCoLC)781254009(DE-B1597)9780226386966(Au-PeEL)EBL408305(CaPaEBR)ebr10209936(CaONFJC)MIL112579(EXLCZ)99100000000040045820030701d2004 uy 0engurcn|||||||||txtccrGovernance, regulation, and privatization in the Asia-Pacific Region[electronic resource] /edited by Takatoshi Ito and Anne O. KruegerChicago University of Chicago Press20041 online resource (483 p.)NBER-East Asia seminar on economics ;v. 12"This volume contains edited versions of papers presented at the NBER's East Asia Seminar on Economics twelfth annual conference, held in Hong Kong, June 28-30, 2001"--Ackn.0-226-38679-1 Includes bibliographical references and indexes.Front matter --Contents --Acknowledgments --Introduction --1. Privatization and Corporate Governance --2. Antitrust Merger Policy: Lessons from the Australian Experience --3. Using Markets to Help Solve Public Problems --4. Recent Developments in the Public-Enterprise Sector of Korea --5. The Korean Economic Crisis and Corporate Governance System --6. Sources of Corporate Financing and Economic Crisis in Korea: Micro-Evidence --7. Initial Public Offering and Corporate Governance in China's Transitional Economy --8. Why Do Governments Dump State Enterprises? Evidence from China --9. Productivity Effects of TVE Privatization: The Case Study of Garment and Metal-Casting Enterprises in the Greater Yangtze River Region --10. Government Commitment and the Outcome of Privatization in China --11. Rail Reform Strategies: The Australian Experience --12. The Japanese Experience with Railway Restructuring --13. What Has Been Achieved in the Japanese Telecommunications Industry since 1985? --14. How to Restructure Failed Banking Systems: Lessons from the United States in the 1930's and Japan in the 1990's --15. Banks, Bailout Guarantees, and Risky Debt --Contributors --Author Index --Subject IndexOver 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.NBER-East Asia Seminar on Economics (Series) ;v. 12.PrivatizationEast AsiaCorporate governanceEast AsiaTrade regulationEast AsiaIndustrial policyEast AsiaElectronic books.PrivatizationCorporate governanceTrade regulationIndustrial policy338.095Itō Takatoshi1950-116437Krueger Anne O228886National Bureau of Economic Research.NBER-East Asia Seminar on EconomicsMiAaPQMiAaPQMiAaPQBOOK9910458066503321Governance, regulation, and privatization in the Asia-Pacific Region2269394UNINA