LEADER 06019nam 22007454a 450 001 9910784777903321 005 20200520144314.0 010 $a1-281-12579-2 010 $a9786611125790 010 $a0-226-38696-1 024 7 $a10.7208/9780226386966 035 $a(CKB)1000000000400458 035 $a(EBL)408305 035 $a(OCoLC)476228524 035 $a(SSID)ssj0000164725 035 $a(PQKBManifestationID)11153330 035 $a(PQKBTitleCode)TC0000164725 035 $a(PQKBWorkID)10124196 035 $a(PQKB)10104213 035 $a(StDuBDS)EDZ0000115821 035 $a(MiAaPQ)EBC408305 035 $a(DE-B1597)524262 035 $a(OCoLC)781254009 035 $a(DE-B1597)9780226386966 035 $a(Au-PeEL)EBL408305 035 $a(CaPaEBR)ebr10209936 035 $a(CaONFJC)MIL112579 035 $a(EXLCZ)991000000000400458 100 $a20030701d2004 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aGovernance, regulation, and privatization in the Asia-Pacific Region$b[electronic resource] /$fedited by Takatoshi Ito and Anne O. Krueger 210 $aChicago $cUniversity of Chicago Press$d2004 215 $a1 online resource (483 p.) 225 1 $aNBER-East Asia seminar on economics ;$vv. 12 300 $a"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. 311 $a0-226-38679-1 320 $aIncludes bibliographical references and indexes. 327 $tFront matter --$tContents --$tAcknowledgments --$tIntroduction --$t1. Privatization and Corporate Governance --$t2. Antitrust Merger Policy: Lessons from the Australian Experience --$t3. Using Markets to Help Solve Public Problems --$t4. Recent Developments in the Public-Enterprise Sector of Korea --$t5. The Korean Economic Crisis and Corporate Governance System --$t6. Sources of Corporate Financing and Economic Crisis in Korea: Micro-Evidence --$t7. Initial Public Offering and Corporate Governance in China's Transitional Economy --$t8. Why Do Governments Dump State Enterprises? Evidence from China --$t9. Productivity Effects of TVE Privatization: The Case Study of Garment and Metal-Casting Enterprises in the Greater Yangtze River Region --$t10. Government Commitment and the Outcome of Privatization in China --$t11. Rail Reform Strategies: The Australian Experience --$t12. The Japanese Experience with Railway Restructuring --$t13. What Has Been Achieved in the Japanese Telecommunications Industry since 1985? --$t14. How to Restructure Failed Banking Systems: Lessons from the United States in the 1930's and Japan in the 1990's --$t15. Banks, Bailout Guarantees, and Risky Debt --$tContributors --$tAuthor Index --$tSubject Index 330 $aOver the last twenty-five years, there has been an acceleration in the move from government regulation towards privatization. Governance, Regulation, and Privatization in the Asia-Pacific Region is the first thoroughgoing account of the relative success of the different approaches to privatization as undertaken in Korea, China, Australia, and Japan. In most contexts, privatization is expected to yield greater efficiency and cost effectiveness while avoiding the corruption and bloated budgets of government regulation or monopoly control. But broad-scale privatization, if ill designed, has also yielded its share of difficulties in East Asia. Privatization sometimes has created a vacuum in corporate governance for some of the region's most important industries and in some cases merely reinstated the monopoly-like configurations. The papers presented in this book discuss the experiences of privatization in several industries, including railroad and telecom, corporate governance problems, accounting issues, and challenges for the future in East Asian countries. The first section is theoretical in nature and proposes boundaries among government protection, market freedom, and shareholder expectations. The second part is constituted by country case studies, beginning with an analysis of both the Korean financial crisis that followed its 1997 law to privatize large, public sector corporations and the new ways Korean corporations finance themselves. Following is an evaluation of China's approach to privatization, with an in-depth look at the financial transitions of companies slated for initial public offering. Providing provocative examples of the methods of privatization in the Asia-Pacific region specifically, these papers will be of huge import to any economist or policymaker interested in transposing those successes for their own region. 410 0$aNBER-East Asia Seminar on Economics (Series) ;$vv. 12. 606 $aPrivatization$zEast Asia 606 $aCorporate governance$zEast Asia 606 $aTrade regulation$zEast Asia 606 $aIndustrial policy$zEast Asia 610 $aregulation, privatization, korea, china, japan, australia, government, efficiency, corruption, monopoly, east asia, corporate governance, industry, railroad, telecommunications, accounting, shareholders, market freedom, protection, initial public offering, trade, policy, antitrust merger, productivity, greater yangtze river, restructuring, banking, lending, finance, investment, economics, nonfiction, bailouts, debt. 615 0$aPrivatization 615 0$aCorporate governance 615 0$aTrade regulation 615 0$aIndustrial policy 676 $a338.095 701 $aIto?$b Takatoshi$f1950-$0116437 701 $aKrueger$b Anne O$0228886 712 02$aNational Bureau of Economic Research. 712 12$aNBER-East Asia Seminar on Economics 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910784777903321 996 $aGovernance, regulation, and privatization in the Asia-Pacific Region$93720168 997 $aUNINA