Congress recently has passed the Postal Accountability and Enhancement Act, which leaves most elements of the current postal regulatory framework (postal monopoly, state owned enterprise) unaltered. Similar regulatory frameworks have been established in the U.S. and the European Community....

For the past 60 years, India has promoted small-scale industries (SSI). Industrial promotion took the form of reserving certain products for manufacture by small and medium firms. The stated goal of Indian policy makers was to promote employment growth and income redistribution. In this paper,...

From its inception, the federal securities law regime created and enforced a major divide between public and private capital raising. Firms that chose to “go public” took on substantial disclosure burdens, but in exchange were given the exclusive right to raise capital from the general...

I use the announcement of a market liberalization pilot program in China as a shock to firms' disclosure environment and examine how the Chinese firms, foreign investors, and foreign brokers respond. Using a proprietary dataset, I find that affected firms respond to announcement by significantly...

The electric power industry is moving away from a regulated utility model, toward a deregulated market-based model - thereby intending to improve system efficiency by reducing generation costs and customer prices, while at the same time improving capital expenditures and service reliability....

This paper carries out an overview of the recent history of privatisation in Spain. At this point, the paper focuses on the analysis of the economic, financial and political objectives pursued by successive Spanish Administrations. It is argued that privatisation policy has been inconsistent...