theory of incentives and regulation. He died in 2004, but his last book, based on the Caffe' Lecture in Rome, has now been … published (Laffont J-J, Regulation and Development, Cambridge University Press). In this paper I critically discuss this … standard results in the theory of regulation cannot be simply transplanted in the developing countries, and he tries to propose …

market regulation in reducing prices and increasing productivity performances, but minimize the role played by privatization …