Privatization: An Economic Analysis (MIT Press Series on the Regulation of Economic Activity)

John Vickers and George Yarrow

ISBN 10: 0262220334 / ISBN 13: 9780262220330

Published by MIT Press, 1988

About this Item

Thirteen margins have annotation mark(s), mostly a short vertical line; otherwise tight, body of text clean; spine is a bit cocked; back panel of dust jacket has faint scratches. xii, [2], 454 p. [B2:5:5].

Seller Inventory # 206555

Bibliographic Details

• Title: Privatization: An Economic Analysis (MIT Press Series on the Regulation of Economic Activity)
• Publisher: MIT Press
• Publication Date: 1988
• Language: English
• ISBN 10: 0262220334
• ISBN 13: 9780262220330
• Binding: Hardcover
• Edition: 1st Edition
• Condition: Good
• Dust Jacket Condition: Dust Jacket Included

About this title

Synopsis

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.

About the Authors

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

George Yarrow is Director of the Oxford based Regulatory Policy Institute, an independent, charitable organization dedicated to the study of all aspects of regulation and deregulation. He is also an Emeritus Fellow of Hertford College, Oxford.