The Pulitzer Prize-wimming author of The Prize joins a leading expert on the global economy to present an incisive narrative of the risks and opportunities that are emerging as the balance of power shifts around the world between governments and markets -- and the battle over globalization comes front and center. The Commanding Heights is essential for understanding the struggle over the "new rules of the game" for the twenty-first century.

Licence To Loot is a fast-paced, hard-hitting investigation into parastatal looting, written by journalist Stephan Hofstatter. At the centre of the story is Eskom, the largest power utility in Africa, which could determine the success or failure of South Africa’s economy.

Hofstatter’s story begins in 2016, with the Guptas’ controversial purchase of Optimum coal mine and Eskom chief executive Brian Molefe’s key role in the deal. From there it takes the reader on a journey from secret meetings in London hotel rooms to a clandestinely purchased bolthole on a Dubai golf estate, uncovering the corrupt acquisition of a private jet along the way. From the diary entries of a Saxonwold security guard to first-hand accounts of backroom dealmaking, it traces the origins of a shadowy network between the Guptas and Eskom that ultimately allowed the family to extract billions of rands from the parastatal.

Licence To Loot reveals the complicated deals and machinations underpinning state capture and the subsequent ministerial and board appointments that ceded the control of the country’s parastatals, including Eskom, Transnet, SAA and Denel, to Gupta-linked moneymen.

The book is particularly relevant in the current political climate as it focuses on the impact of state capture, not just its origins, and takes the story beyond the Zuma presidency.

Network industries such as electricity, gas, rail, local public transport, telecommunications and postal services are recognised by the EU as crucial for fostering European social and territorial cohesion. Providing an overview of key policy reforms in these industries and an empirical evaluation, this thought-provoking book offers a critical perspective on the functioning of the networks that provide vital services to EU citizens. Key features include: analysis of policy reforms and their effects on the welfare of citizens as users an innovative focus on the neglected topic of the role of state-owned or state-invested enterprises assessment of changes in policy framework reform from the consumer's point of view a comparative country analysis evaluation of cross-cutting issues related to reform including privatisation, unbundling, performance and impact. The Reform of Network Industries will appeal to academic researchers in the fields of industrial economics, policy and regulation and the economics of European integration, as well as students of business and law. Policymakers, regulators and public administrators will also find this book a stimulating read. Contributors include: P. Bance, R. Cardinale, P. Castelnovo, A. Chassy, S. Clo, A. Cosic, L. Diestelmeier, J. Doleschel, S. Drufuca, G. Esposito, M. Florio, S. Groenblom, R. Hirsch, T. Holvad, T. Kaloud, M. Lampropoulou, A. Maxim, A. Negrelli, T.A. Nguyen, N. Rosetto, A. Roukouni, R.P. Sanchez, S. Thomas, J. Urban-Kozlowska, J. Willner

Privatization has dominated industrial restructuring programs since the 1980s and continues to do so. This authoritative and accessible Handbook considers all aspects of this key issue, including: the theory of privatization; privatization in transition, developed and developing economies; as well the economic regulation of privatized industries. The studies in this volume, introduced by international experts in the field present evidence of the scope and effects of privatization, and consequently provide the basis for improving both policy formulation and implementation. However, they also emphasize that privatization is not an end in itself. It is argued that for privatization to be worthwhile and for lasting economic efficiency gains to be achieved, supporting reforms must accompany most privatization programs, particularly in the arenas of corporate governance and capital markets, product market competition, and state regulatory processes. Furthermore, several contributions demonstrate that the degree to which ownership and market liberalization can be usefully separated, and whether privatization without either competition or effective regulation is worthwhile, remain controversial issues. Furnishing the reader with a comprehensive and lively discussion of privatization in theory and practice, this Handbook will be the essential source of information for researchers in the field, and for a wide-ranging audience including public policy makers and specialists, development experts and agencies, international banks, public policy and regulation economists, and management consultants.

The provision of water and sanitation services (WSS) in developing countries has traditionally been the preserve of the state, but recently there has been a move towards greater private sector participation (PSP). While the potential economic benefits of PSP are well-known, the authors extensively discuss the environmental and social implications unique to the sector. The focus of the book is on the crucial role public authorities must continue to play to guarantee sustainability, levels of service and access to a variety of consumers. The authors show how these objectives are realised in very different ways - and not always successfully - in developing countries. The authors critically review the current literature and include new case studies from Manila, Buenos Aires, Cordoba, Abidjan and Mexico City. Private Firms and Public Water will be of interest to regulatory officials, economists, development professionals and scholars, as well as government, business and NGOs.

Privatization investment funds are the key feature of mass privatization programmes in transitional economies. This book offers a thorough survey of mass privatization programmes in the Czech Republic, Poland and Slovenia, supported with extensive empirical analysis. The study of 'top-down' privatization funds in Poland and 'bottom-up' funds in the Czech Republic and Slovenia offers different solutions to the problem of how to improve the governance of privatization funds. The authors argue that the institutional structure of closed-end investment companies and open-end mutual funds has not provided the right incentives to maximize the value for the shareholders. In addition too many regulations are in place in underdeveloped markets to protect new shareholders unaccustomed to exercising their ownership rights. Instead, the authors argue that they need to promote adjustment in fund portfolios and ownership structures in order to spur the development of capital markets and effective mechanisms of corporate governance.

This book examines the ongoing transformation of public utilities, also known as network-based industries, in Western Europe and the United States. Examples are telecommunications, energy, and water distribution. Most of these network-based industries were until recently natural monopolies. Over the last two decades national governments have embarked upon privatization, deregulation and liberalization of their public utilities. The contributors in this volume examine the many related aspects, including: * key characteristics and regulation of network based industries * the emerging EU regulatory framework * corporate strategies, industry dynamics, and organizational performance * case studies from the telecommunications and water industries * engineering competition versus engineering regulation. This book provides a non-ideological and multidisciplinary overview of recent views and experiences with the liberalization, privatization and regulatory reform of public utilities in Europe and the United States. As such it will be of interest to scholars and researchers of institutional economics, and organizational studies, as well as regulators, policymakers and consultants involved in both studying and governing network-based industries.

Clemens Schutte analyses the emergence of corporate control structures in the Czech privatization process. The book depicts the basic features of the Czech system of corporate control and the direction of its transformation. This is an extremely relevant subject since the Czech privatization process is a model case in several respects: it is institutionally open and hence allows for spontaneous development; and privatization has been carried out comprehensively and rapidly. Based upon a theoretical analysis of the institutional cornerstones of corporate control, the book develops clear recommendations which are subsequently used as a benchmark to assess the performance of the evolving Czech system of corporate control.The book discusses the role of the most important players in corporate control including the big bank-centred financial groups, capital markets, the board model of Czech corporations and the institutional base of debt control and minority shareholder protection. It also reveals the conflict of political intentions and real-time developments. As an important and timely contribution, this book will be invaluable reading for all those involved, or interested, in the privatization and corporate control of other Central and Eastern European countries. Those working in financial and political institutions will also find this book valuable.

This book provides a comparative study of the telecommunication reform process in three Central American countries - Costa Rica, Guatemala and Honduras - focusing on the roles of the local private sector and international financial institutions. By addressing the following questions, the book aims to understand the potential for the emergence of an autonomous and inclusive regulatory state: * What has been the main driving force behind the wave of privatizations in Latin America? * What has been the role of the international financial institutions (IFIs)? * What kind of state emerges after privatization and regulatory reform? * Why does privatization remain so unpopular? The author discusses the historical role of telecommunications in state power, the sources of proposed, failed and implemented reforms, and the political processes determining their destiny. Benedicte Bull concludes that the reform processes in the three countries show significant variation. This is accounted for - not by the different relationship to the IFIs, but by the different relationships between the state and the private sector. The impact of this on the reform process is also the key to understanding the state's capacity for post-reform regulation and the unpopularity of privatization. Academics and students with an interest in Latin American studies, international political economy, comparative politics and development studies will find this book of great appeal.

This is Volume II of Professor Parker's authoritative Official History of Privatisation, covering the period from the re-election of Margaret Thatcher in 1987 to the election of Tony Blair in 1997. Volume II considers in detail several of the major privatisations, including those of airports, steel, water, electricity, coal and the railways, as well as a number of smaller ones. Each privatisation involved major challenges in terms of industrial restructuring, organising successful sales and, in a number of cases, establishing effective regulatory regimes. The policy evolved and new methods of selling and regulating were put in place that enabled further disposals to occur. Monolithic nationalised industries with their emphasis on the benefits of economies of scale, vertical integration and rationalisation, were replaced by industrial structures rooted in the importance of commercial management, risk taking and competition. In government departments and parts of the National Health Service, direct employees were replaced by private contractors, and private investment became a characteristic of public infrastructure in the form of PFI/PPP schemes. This study draws heavily on the official records of the British government, to which the author was given full access and on interviews with the leading figures involved in each of the privatisations, including ex-ministers, civil servants, business and City figures, as well as academics that have studied the subject. This book will of great interest to students of privatisation, British political history and of business and economics in general.

In this special issue, leading neuroscientists and neurologists present comprehensive review papers and empirical studies on the topic of the neural basis of self-identification. From philosophical definitions to single-case studies, the articles provide the reader with a broad view of the self in contemporary neuroscience. Review papers address the fundamental question of how to define and study the construct of identity. Methods in empirical studies range from socio-linguistic analyses to neuroimaging and diverse patient populations. As a whole, this issue provides a diverse sample of the myriad of ways in which identity is defined and studied in contemporary neuroscience.

Over the past decade India has been undertaking a program of economic reform, and at the same time the economy has been growing at a high rate. As part of the reform program, and in line with prevailing economic thinking, India has been privatizing its large, ungainly public sector. One assumption underlying this program is the dogma that public sector enterprises are doomed to inefficiency, and that competitive market forces can be relied on to make firms more efficient once they are privatized. But is this really true?
Combining rigorous data analysis with case studies to provide a balanced evaluation of the process of deregulation and privatization within the overall context of economic reforms, the author demonstrates, remarkably, that, contrary to the prevailing view, private sector firms do not outperform public sector firms across all sectors. He also shows that revenue-raising considerations have weighed more heavily with the government than efficiency objectives. Overall, this study of the reform process in India, with its unique longstanding mix of private and public sectors, will be of great interest to all those studying reform and transition worldwide.

The transformation of public ports into commercially orientated and profitable entities is occurring apace in the Asia-Pacific region. This timely book is the first to take a regional perspective on port reform and port privatisation. A range of countries are examined, including China, Japan, Korea, Malaysia, Singapore, Australia and New Zealand.The book's contributors are academic specialists in the fields of port economics and management, whose country studies illustrate a variety of port privatisation methods and outcomes in an economically, politically and culturally diverse region connected by extensive maritime trade networks. Significantly, the book concludes that privatisation of ports is an important but far from universal approach to reforming the region's ports. Focusing exclusively on port privatisation in the Asia-Pacific region, this book will be of great interest to academics and policymakers who are interested in port reform, together with those interested in privatisation more generally in the Asia-Pacific region.

Privatization and Economic Efficiency assesses the economic content of many of the beliefs surrounding privatization. It develops a new and novel inter-disciplinary approach linking economic and organizational dimensions.A series of case studies examines the theory, evidence and policy experience of privatization in developed and developing nations. These studies focus on the UK, US, Egypt and Jamaica. The book concludes that privatization is an appealingly simple phrase concealing many difficulties and problems for analysts, researchers and policymakers.

Privatization and Entrepreneurship: The Managerial Challenge in Central and Eastern Europe analyzes the challenges faced by managers in the transforming economies of Central and Eastern Europe and provides penetrating insights into the details of managing in the former socialist countries. This collection's combination of conceptual/theoretical material with empirical, firsthand case analysis prepares Western managers for a more profitable and less stressful entry into these significant markets.This enlightening book highlights the complexity and breadth of the issues and problems of successfully entering new markets in Central and Eastern Europe. Along the way, you are introduced to such topics as consumer behavior and shown the different forms of foreign direct investment with their associated problems and benefits. If you are searching for ways to better prepare for business in these markets, this book can help you meet your objectives with its helpful information on: ethical concerns and linguistic difficulties of managing in transforming economies management challenges of privatization management challenges of entrepreneurship strategic issues associated with the reorientation of enterprises corporate constituencies, changing consumers, labor unions, and pay practicesPrivatization and Entrepreneurship will prove valuable to policymakers in economic development and foreign aid agencies, executives of companies planning to expand into Europe and those already active in the region, and academicians and students in management, economics, and political science.

This title is the first in the Critical Perspectives on the World Economy series. With a new introduction by the editors it brings together the most significant contributions on privatization including material on the philosophical and historical context.
Specific subjects covered include:
* regulation and competition policy
* different forms and techniques of privatization
* the impact of privatization.
Drawing on an enormous range of sources, the collection includes material by Hayek, Harold Demsetz, Douglass North, Janos Kornai, Jean Tirole and Jeffrey Sachs. It is an indispensible reference for policy makers, as well as academics concerned with economic policy and public economics.

In many parts of the world, public enterprise is in crisis. Privatization programs are being widely promoted as the solution to many of the problems of inefficiency and slow rates of growth associated with public enterprise. This book discusses the underlying causes of those problems, and critically examines some of the solutions that have been adopted.
"Public Enterprise at the Crossroads" has a wide geographical scope and cuts across the political spectrum. The experiences of countries in four continents are analyzed, with explorations of current problems. The contributors find recurrent patterns; problems are often found to be political as well as economic, and bureaucracy and administrative confusion are seen as a major cause of poor financial performance. Yet since political aims, the economic environment, and administrative and managerial capacities vary so widely, universal solutions remain more difficult to define than universal problems.

In recent decades, privatisation has been a key policy instrument in the move to more market-based economic systems in all parts of the developing world. Privatisation, however, has not necessarily been accompanied by an increase in market competition. In recent years, many public utilities have been privatised as monopolies and in addition regulatory systems have been developed to restrict their market power and protect the interests of consumers. These authoritative volumes bring together a collection of important papers that have shed new theoretical and empirical insights into privatisation and regulation and have provided new policy perspectives in relation to developing countries. Privatisation in Developing Countries will appeal to policymakers and researchers at the forefront of economic policy debates in developing countries.

Regulatory economics has become increasingly important over the last quarter of a century, in part as a result of the wave of privatization, starting in the UK, which made the regulation of monopoly of much greater interest. The discipline has also become more rigorous, increasingly employing powerful analytical and econometric methods. This volume brings together some of the leading contributions to the literature on privatization and regulation. The book is an invaluable resource for scholars, policymakers and regulators in the study of privatization and regulation.

This timely new book provides an international perspective on Public Private Partnerships. Through 21 case studies, it investigates the existing and fast developing body of principles and practices from a wide range of countries and is the first book to bring together leading international academics and practitioners under a common framework that enables convenient cross-country comparisons. The authors focus on the impact of the financial crisis has had on how governments have reviewed and overhauled their PPP policies as they have examined or tested new ways of partnering more effectively, efficiently and sustainably with the private sector. Readers will be able to gauge the level of maturity of PPP development in the book's case studies, understand similarities and differences in their practices, and gain useful insights into the regulatory framework and institutional infrastructure in place to support implementation of PPP. Finally, the book offers insights into the future challenges and opportunities that PPP offers stakeholders.

Originally published in 1984, Privatisation and the Welfare State brings together a distinguished set of experts on the Welfare State and its main policy areas of health care, housing, education and transport. Each chapter provides some much-needed analysis of privatisation policies in areas where, too often, political rhetoric is allowed to dominate discussion. The book makes a major contribution to the reader's understanding of the complex issues involved in this controversial area of social policy. As the first systematic evaluation of a broad range of welfare state privatisation proposals, it is essential reading for economists, social administrators, and political scientists.

Privatization is now a universal practice and is the result of a set of interrelated factors, all of which are explored in this collection. Privatization has also become an academic industry, generating a vast outpouring of books and articles. This authoritative two volume collection, which includes a new introduction by the editors, concentrates on the public policy of privatization, and explores its dimensions by presenting key theoretical and empirical articles. The volumes are also clearly interdisciplinary, bringing together for the first time articles informed by political science, economics and sociology. The collection will be invaluable for both practitioners and academics, especially those involved in the study of applied economics, public policy and political science.

Legitimized by the arguments of efficiency gains, public housing, pensions, unemployment insurance and health care are all being gradually privatized. In many countries, even the state's 'night-watchmen' role of providing security is offered by private prisons and security guards. In the face of these and other developments, this book argues that on the basis of efficiency, morality and equality there is still an overwhelming need for public intervention - the res publica. Public or Private Goods? brings together leading scholars from various disciplines including economics, sociology, political science, geography and spatial planning. The book explores core public tasks that the state has traditionally provided but which are increasingly privatized and subsumed into the private sector. For example, although the state still funds and regulates core domains, it provides fewer and fewer visible goods. The authors show how this apparent invisibility of the state presents serious challenges for both income equality and democracy. This thoughtful interdisciplinary book will appeal to advanced students and academics in political science, public sector economics and public finance. It will also provide stimulating reading for politicians, policymakers and anyone interested in the provision of public services. Contributors include: F. Blank, G. Bonvissuto, J. Ferwerda, M. Getzner, G. Gutheil-Knopp-Kirchwald, J. Kadi, T. Knijn, I. Koetsier, J. Lewis, B. Unger, D. van der Linde, K. van Egmond, F. van Waarden

Originally published in 1984, Privatisation and the Welfare State brings together a distinguished set of experts on the Welfare State and its main policy areas of health care, housing, education and transport. Each chapter provides some much-needed analysis of privatisation policies in areas where, too often, political rhetoric is allowed to dominate discussion. The book makes a major contribution to the reader's understanding of the complex issues involved in this controversial area of social policy. As the first systematic evaluation of a broad range of welfare state privatisation proposals, it is essential reading for economists, social administrators, and political scientists.

Privatization, Deregulation and the Macroeconomy focuses on the macroeconomic consequences of microeconomic rigidity in the markets for goods or services and the reforms necessary to create economic dynamism. Peter van Bergeijk and Robert Haffner address questions of how market structure, competition policy, over-regulation and collusive behaviour may influence macroeconomic performance. Drawing on many examples from the OECD countries (most notably, Germany, New Zealand, Australia and the Netherlands), Eastern Europe and the Third World, the authors show how economic policies intended to provide greater flexibility can be analysed. The authors examine the diagnosis or measurement of product market inertia at the mesoeconomic level and its consequences at the macroeconomic level such as employment, per capita income growth and price stability. In Privatization, Deregulation and the Macroeconomy, Peter van Bergeijk and Robert Haffner deal not only with practical policy matters but also with the theoretical issues of how to determine price rigidity (hysteresis on the product markets) and their macroeconomic implications. This book will be welcomed by economists interested in industrial organization, macroeconomics, neo Keynesianism, development economics and transitional economies and will also be of interest to policymakers.