of local monopoly power of financial intermediaries. The economy that implements this form of deregulation experiences …

The different approaches to large-scale privatization in Hungary, Poland, and the Czech Republic imply somewhat … privatization strategies could affect macroeconomic performance and the development of constituencies in favor of or against …

This paper assesses the effect of social security privatization on the government budget, economic efficiency, national … savings, and the distribution of resources across generations. It is shown that the benefits of privatization most often … touted by privatization advocates can be achieved by simply altering taxes and social security pensions and leaving the basic …

-as-you-go (PAYGO) to partial or full funding. Privatization is viewed as one way to insulate social security from the political and … demographic pressures that currently threaten the financial stability of PAYGO systems. However, privatization would improve a …

these two markets with the regulatory environment for banks in Japan, with Japan's overall external financial position, as … environment in Japan, including restraints on interest rates, and possible quantitative restraints, has had an important impact on … States as substitutes for their head offices in extending commercial and industrial loans to Japan-based companies as well as …

is warranted. ; We then turn to the adjustment process. First, we present evidence that a narrowing of Japan's record … be counter-productive. The model shows that this outcome is possible, but we argue that for an economy with Japan … impact on domestic demand in Japan and on trade with the developing countries. …