The two most important forces affecting the world economy in the closing decades of the 20th century are globalization and privatization. While proceeding in parallel, these forces have nonetheless had significant interactions with one another, which are examined in this collection.

Contents: Acknowledgements Introduction – Globalization and the Advance of Markets: Twin Forces Shaping the World Economy Ram Mudambi PART I INTRODUCTION 1. Stefanie Ann Lenway and Thomas P. Murtha (1994), ‘The State as Strategist in International Business Research’ 2. Jonathan R. Hay and Andrei Shleifer (1998), ‘Private Enforcement of Public Laws: A Theory of Legal Reform’ 3. Jagdish Bhagwati (1998), ‘Poverty and Reforms: Friends or Foes?’ 4. Pablo T. Spiller (1990), ‘Politicians, Interest Groups, and Regulators: A Multiple-principals Agency Theory of Regulation, or “Let Them Be Bribed”’ 5. Ram Mudambi, Pietro Navarra and Chris Paul (2002), ‘Institutions and Market Reform in Emerging Economies: A Rent Seeking Perspective’ PART II TRADITIONAL MODELS AND THEORIES 6. Harold Demsetz (1968), ‘Why Regulate Utilities?’ 7. George J. Stigler (1971), ‘The Theory of Economic Regulation’ 8. John Vickers and George Yarrow (1988), ‘Theories of Regulation’ 9. Saul Estrin and David de Meza (1995), ‘Unnatural Monopoly’ 10. Maxim Boycko, Andrei Shleifer and Robert W. Vishny (1996), ‘A Theory of Privatisation’ 11. Ravi Ramamurti (2000), ‘A Multilevel Model of Privatization in Emerging Economies’ PART III DEREGULATION: INDUSTRY STUDIES A The First Major Step – The Breakup of AT&T 12. William E. Taylor and Lester D. Taylor (1993), ‘Postdivestiture Long-Distance Competition in the United States’ 13. Jerry Hausman, Timothy Tardiff and Alexander Belinfante (1993), ‘The Effects of the Breakup of AT&T on Telephone Penetration in the United States’ B Deregulating Airlines in the US 14. Paul W. Bauer (1986), ‘“Don’t Panic”: A Primer on Airline Deregulation’ 15. Messod D. Beneish (1991), ‘The Effect of Regulatory Changes in the Airline Industry on Shareholders’ Wealth’ C Deregulating Banking in the US 16. Hugh Thomas (2000), ‘A Proposal to Deregulate Banking’ 17. Robert E. DeYoung, Joseph P. Hughes and Choon-Geol Moon (2001), ‘Efficient Risk-taking and Regulatory Covenant Enforcement in a Deregulated Banking Industry’ PART IV PRIVATIZATION AND TRANSITION: INTERNATIONAL EVIDENCE 18. William L. Megginson and Jeffry M. Netter (2001), ‘From State to Market: A Survey of Empirical Studies on Privatization’ 19. Harald Hau (1998), ‘Privatization Under Political Interference: Evidence from Eastern Germany’ 20. David Jennings (2000), ‘PowerGen: The Development of Corporate Planning in a Privatized Utility’ 21. Stuart Ogden and Robert Watson (1999), ‘Corporate Performance and Stakeholder Management: Balancing Shareholder and Customer Interests in the U.K. Privatized Water Industry’ 22. Antonio Estache, Andres Gomez-Lobo and Danny Leipziger (2001), ‘Utilities Privatization and the Poor: Evidence from Latin America’ 23. Raj Aggarwal and Joel T. Harper (2000), ‘Equity Valuation in the Czech Voucher Privatization Auctions’ 24. David Dornisch (2001), ‘Competitive Dynamics in Polish Telecommunications, 1990–2000: Growth, Regulation, and Privatization of an Infrastructural Multi-network’ 25. Nicholas Barberis, Maxim Boycko, Andrei Shleifer and Natalia Tsukanova (1996), ‘How Does Privatization Work? Evidence from the Russian Shops’ 26. Robert Grosse and Juan Yañes (1998), ‘Carrying Out a Successful Privatization: The YPF Case’ 27. James Peoples, Jr. and Wayne K. Talley (2001), ‘Black–White Earnings Differentials: Privatization versus Deregulation’ PART V PRIVATIZATION AND BUSINESS STRATEGY 28. Shaker A. Zahra, R. Duane Ireland, Isabel Gutierrez and Michael A. Hitt (2000), ‘Privatization and Entrepreneurial Transformation: Emerging Issues and a Future Research Agenda’ 29. Jonathan P. Doh (2000), ‘Entrepreneurial Privatization Strategies: Order of Entry and Local Partner Collaboration as Sources of Competitive Advantage’ 30. Igor Filatotchev, Mike Wright, Trevor Buck and Vladimir Zhukov (1999), ‘Corporate Entrepreneurs and Privatized Firms in Russia, Ukraine, and Belarus’ PART VI RE-APPEARING STATIZATION 31. Daniel J. McCarthy, Sheila M. Puffer and Alexander I. Naumov (2000), ‘Russia’s Retreat to Statization and the Implications for Business’ Name Index