Gradual Reform of Regulation : Economic Analysis of Partial Liberalization and Partial Privatization.
| Project/Area Number |
18530128
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | The University of Tokyo |
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Principal Investigator |
MATSUMURA Toshihiro The University of Tokyo, 社会科学研究所, 教授 (70263324)
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| Project Period (FY) |
2006 – 2009
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| Project Status |
Completed (Fiscal Year 2009)
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| Budget Amount *help |
¥4,030,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥630,000)
Fiscal Year 2009: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2008: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2007: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2006: ¥1,300,000 (Direct Cost: ¥1,300,000)
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| Keywords | 規制改革 / 部分自由化 / 混合寡占 / 部分民営化 / 投資戦略 / 立地競争 / ネットワーク型産業 / 不可欠施設 / mixed oligopoly / privatization / spatial competition / quasi-linear city / 参入規制 / 国際競争 / 経済改革 / 企業立地 / 研究開発 / 混雑 / 公企業 / 規制 / 製品差別化 / R＆D |
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| Research Abstract |
I investigate gradual reform of regulation. I focus on partial privatization of public enterprises and partial liberalization in formerly regulated monopoly markets. I formulate a new model of mixed oligopoly where state-owned public enterprises compete against private firms. I drop the assumption of single public enterprise, which is widely adopted in the literature on mixed oligopoly. I find that (i) welfare-gains of privatizations are accelerating, so poor performance at early stages of privatization program does not imply the failure of the whole privatization program. (ii) Smaller size privatization programs more likely fail and (iii) The government should improve the competitiveness of the market before privatizing the public firms. I also formulate a mixed oligopoly model where both domestic and foreign investors are possible buyers of the stocks of a partially privatized firm. We find that privatization more likely succeeds when the presence of foreign investors is larger. I also investigate the relationship between liberalization and introduction of zero-emission facilities. We find that under plausible assumptions, the firms more likely adopt zero-emission power plants when the degree of liberalization is larger.
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Report
(6 results)
Research Products
(51 results)
