Privatisation And Regulation

Seminar paper from the year 2004 in the subject Economy - Theory of Competition, Competition Policy, grade: 1, University of Ulster (School of Business Organisation and Management), course: Business Economics, 12 entries in the bibliography, language: English, abstract: Index Introduction 1. The market forces argument 4 2. Breakdown of the market forces argument in natural monopolies 6 3. Economic key issues which regulators of privatised industries should consider 8 4. References 12 Introduction This essay covers some issues of privatisation and regulation. It is divided into three parts. Part one gives a brief outline of the author s understanding of the market forces argument for privatisation. In the second part it is explained what is meant by a natural monopoly and why the market forces argument does not hold if an industry is a natural monopoly. The third part then discusses which economic key issues should be considered by the regulatory body of a privatised industry. Privatisation is the transfer of public ownership away from the state to private ownership. Regulation is a limitation on the behaviour of firms or organizations, imposed by the government. From the view of competition it is the aim to remove market distortions which are caused by public enterprises and regulations (Case K. et al. 1999: 356.)

C.D. Foster drawing on his enormous experience in Government, industry and academia, has written a most comprehensive study of privatization policy under the Conservative Government of the last 2 years. In this lucid, non-technical work, Foster draws on the history of state intervention, regulation, and nationalization of industries that were argued to be natural monopolies, for example, the railways. The failure of nationalized industries, Foster argues, is rooted not only in inefficiency, but in the lack of any clear performance indicators of what such public enterprises should be achieving. These observations open out his book into a discussion of the development of privatization under Mrs Thatcher (not apparently part of a big plan, but more a muddling through of policy ideas). Subsequently Foster contrasts the legal and economic construction of regulation in the US to the looser rein of the new British style of regulation. The remaining chapters evaluate the performance and regulation of the newly privatized enterprises and Foster finds that on balance the new regulatory structures are workable and have avoided many of the problems of the past. Foster's scholarly and measured, yet accessible book is a moderate defence of what became a central ideological plank of Thatcherism. He calls for a carefully thought through planning of regulation where other States are thinking of privatizing their public enterprises. He also discusses how far the same objectives can be achieved through public enterprise reform. This book, given the wealth of detail about public policy should appeal greatly to lawyers, economists and political scientists, as well as those on courses in public administration and other professionals.

Privatisation and deregulation was chosen as the topic of the annual Canada-UK Colloquium which was held in Scotland in 1987. Most of the papers presented here have been updated since that meeting. These papers discuss the Canadian and British privatisation programs. Also covered are telecommunications; transport; financial services; contracting-out; and problems and prospects with one article given for each country.

This volume brings together a number of papers discussing the interrelationship among privatisation, competition and regulation. The papers make reference to the experience of different countries with privatisation in a wide range of infrastructure sectors.

Privatization and After discusses the need to monitor privatization. The authors argue that monitoring will show whether or not the process is fulfilling its objectives and contributing to improved economic performance. The book also assesses the need for, and techniques of, regulating privatized enterprises in situations of continuing monopoly or significant market control. This is supported by an in-depth analysis of regulation in the UK and its implications for developing countries. Further illustrative material is drawn from a range of developed, developing and former socialist countries.

Privatization, Regulation and Deregulation collects Professor Michael Beesley's most important work in the are of privatization. He advised the government on forthcoming legislation on telecoms, buses, and water as well as advising new regulators. Now in.

Essay from the year 2004 in the subject Economy - Theory of Competition, Competition Policy, grade: 1, University of Applied Sciences Kempten (University of Ulster), language: English, abstract: The economic trend of privatisation that started in Great Britain in the early 1980s has now spread to all of the European states (www.fiwi.uni-bonn.de). Privatisation is characterised as a change in ownership and control of an enterprise from the public sector to private sector by share flotation or private sale. In a broader sense, the definition includes the transfer of functions previously performed exclusively by the public sector to the private sector and all the other measures which aim to reduce the role of government in a national economy in order to strengthen free market economy (www.canaktan.org).

This book focuses on the timely topic of private enterprises and regulation in the United Kingdom from both theoretcial and appled viewpoints. Papers cover such far-ranging topics as: privatizing public enterprises, new industrial policies, private versus public enterprise performance, asset sales and liberalization, franchising and competitive tendering, and financial implications and labor relations.