the market. In particular, we look at whether speed of privatization, legal institutions or initial conditions are more … endogeneity, confused issues of speed and level of privatization, and did not face up to the problems of multicollinearity. Our … results suggest that, contrary to the earlier literature, the speed of privatization is negatively associated with growth, but …

A first step in the 'big bang' markets was the deregulation of the foreign exchange market on April 1, 1998. This paper … the deregulation. Intra-day data are analyzed with the following results: (1) Holding constant the effects of volume and … volatility, the deregulation was associated with a convergence of Japanese quoted spreads toward those of other banks. (2 …

Japan's zaibatsu, or pyramidal business groups, provided this coordination after the Meiji government failed at the task. We … that unique historical circumstances aided their success in prewar Japan. Specifically, Japan uniquely marginalized its … feudal elite; withdrew its hand with a propitious mass privatization that rallied the private sector; marginalized an …

U.S. airlines have lost nearly $60 billion (2009 dollars) in domestic markets since deregulation, most of it in the … that challenges the economics of deregulation. I examine some of the most common explanations among industry participants …

markets. Deregulation has been accompanied by substantial market consolidation and today the three largest companies control … more than one-third of all U.S. nuclear capacity. We find that deregulation and consolidation are associated with a 10 …

The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic … policy to reduce transition costs. Third, deregulation reduces static and dynamic inefficiencies, making price stability more … desirable. International synchronization of reforms can eliminate policy tradeoffs generated by asymmetric deregulation …