Since the currency crisis, Indonesia has undergone rapid economic and political changes. However, the IMF-directed recovery program, such as decentralization, does not seem successful. Despite the improvised legal system, the implementation of the recovery program is very poor. Lack of consensus...

As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests, however, that unfettered competition is not first best given the special features of finance. I review these analytics and describe how to assess the degree of competition in...

The interaction between the competition policy and regulatory reform has attracted the attention of specialists and policymakers in recent years. The topics covered include the interface between competition and the regulatory authorities (the division of labour and coordination mechanisms) and...

Regulatory reform had its beginnings in the United States in the 1970s, and today it is taking place around the globe. One of the central questions for industrial policy is how to regulate firms with market power. Regulatory Reform tackles this important policy issue in two parts: it describes...

This paper describes the core features of the power sector 1994 regulatory reform and evaluates utility performance and efficiency before and after the reform. The performance analysis assesses the changes in means and medians of a series of profitability, efficiency, investment, sales of the...

This paper offers an empirical analysis of the impact of reforms in the natural gas industry on consumer prices across the EU-15 area. After briefly reviewing the most recent reforms, we study the relationship between regulatory indicators and price dynamics by means of panel data econometrics....