From the start of China's "corporatization without privatization" process in the late 1980s, a Chinese corporate governance regime apparently shareholder-empowering and determined by enabling legal norms has been altered by mandatory governance mechanisms imposed by a state administrative...

While the tradeoff between market failure and government failure has been explored both theoretically and in practical policy design, the question of whether this trade-off appears in the calculus of citizens' demands for government regulation remains underexplored. We first clarify the channels...

Market economy models differ in the degree of the power of the government vis-à-vis the market in the economy. Under the classifications set forth by Glaeser and Shleifer (2002, 2003), and Djankov et al. (2003), these market models range from those emphasizing low government intervention in the...

From the start of the People's Republic of China's (PRC) "corporatization" project in the late 1980s, a Chinese corporate governance regime subject to increasingly enabling legal norms has been determined by mandatory regulations imposed by the PRC securities regulator, the China Securities...

The paper introduces insights into a methodology for developing regulation applicable to networked industries. Following telecommunications, the energy industry is most apt to undergo significant structural and regulatory reforms as a function technological advancement. The application of this...

While the tradeoff between market failure and government failure has been explored both theoretically and in practical policy design, the question of whether this trade-off appears in the calculus of citizens’ demands for government regulation remains underexplored. We first clarify the...

Why are there so few new firms in Russia? This paper provides further insights into the specific Russian business landscape and how it impacts the low level of new firm entry. As this paper indicates, internationally comparative data do not provide many clues, since in terms of purely formal...

Eine lange Periode niedriger Zinsen und wachsender Zentralbankbilanzen hat nicht nur mehr Staatsausgaben, sondern auch hohe Vermögens- und schließlich Konsumentenpreisinflation nach sich gezogen. Gleichzeitig sind eine dichtere Regulierung, wachsende Tendenzen zu Deglobalisierung und...

This paper analyzes the constitutional determinants of cost reimbursement rules. In order to design the optimal incentive schemes, a possibly partisan planner will take into account the market cost structure, the institutional design of the supervision hierarchical structure and its technology....

This paper starts by analyzing the consequences that technical and economic charactcristics of network industries have for the relationship between competition and regulation in these industries. A discussion of alternative regulatory rules shows that normative regulatory economics does not...