Using a difference-in-difference approach, we study how intellectual property right (IPR) protection affects innovation … in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE …

feature of market economies, is inherently vulnerable to runs in all its forms (not just demand deposits). Bank regulation … aims at preventing bank runs. History shows two approaches to bank regulation: the use of high quality collateral to back …

We develop a dynamic game to explore the interaction between regulation and private policies, such as self-regulation … by firms and activism. Without a public regulator, the possibility of self-regulation is bad for the firm, but good for … activists who are willing to maintain a costly boycott to raise the likelihood of self-regulation. Results are reversed when the …

. In this paper, we review the evolution of business regulation in Hong Kong, analyze the salient features of its scheme of … control regulation and evaluate the impact of transition from regulation to competition. To provide a sharp contrast between … the difficulties of the traditional approach to regulation and the benefits of introducing competition, we focus on the …

there are clear improvements in performance post-privatization. The tiger can change its stripes; however, the government …