The emerging literature on interaction between strategic trade theoryand privatisation uses a simple example to argue that the irrelevanceresult is invalidated if the domestic market is open to foreigncompetition.This paper uses a fairly general framework to show that anythinga regulated...

Pakistan's power sector underwent a substantial, if protracted, reform process. Beginning with an independent power producer program in 1994, the full unbundling of the national vertically integrated power and water utility, the Water and Power Development Authority, and the establishment of a...

Using a sample of 680 and 1,300 judicial and private auctions respectively, we analyze the effect on the wealth of those the law is intended to protect of different regulations applicable to each type of auctions. We find that consistent with a simple economic model, Courts assign judicial...