"The author first describes those features of the electricity supply industry that make a prospective market monitoring process essential to a well-functioning wholesale market. Some of these features are shared with the securities industry, although the technology of electricity production and...

"Since the early 1990s, substantial resources and efforts have been spent on implementing market-oriented electricity reforms in developing countries. While there are important sectoral, economic, and social dimensions involved in electricity reform, empirical analysis and evaluation of reforms...

Access to basic services plays an important role in both individual well-being and a country's economic development. For this reason, general availability of these services to citizens, regardless of income level and geographical location, has generally been viewed as an important public policy...

Regulating infrastructure utilities can be extremely complex and fraught with risks of political interference and capture by interest groups, especially in countries with little tradition of politically independent government agencies. To deal with these challenges, policymakers and regulators...

"The Subprime crisis largely resulted from failures to internalize systemic risk evenly across financial intermediaries and recognize the implications of Knightian uncertainty and mood swings. A successful reform of prudential regulation will need to integrate more harmoniously the three...

"Market-oriented economic policies-reflected in limited economic activity by government, protection of private property rights, sound monetary policy, outward orientation regarding trade and efficient tax and regulatory policy-have been strongly linked to faster rates of economic growth. Foreign...