Economic Analysis on Privatization of Special Corporations and Public Corporations

在这项研究中，我们分析了政府下属的特殊公司和上市公司私有化的相关问题。本研究的具体目的是：1)评估民营化的效果，2)明确导致民营化的因素，3)从民营化中获得政策知识和教训。本研究分析的主要行业是：1)铁路行业；2)公路行业；3)邮政行业；4)公用事业行业，如公共汽车服务行业，既包括公共企业，也包括政府附属的特殊企业。在本研究中，我们采取了以下步骤：1)对前人研究的综述和初步分析，2)数据收集和数据库建设，3)计量经济模型分析和额外数据集的收集，4)模型构建和政策分析。2004年，我们主要分析了邮政业和铁路业。在2005年，我们专注于…更多的分析邮政业和道路业务。2006年，也就是本研究的最后一年，我们对公路企业、其他公共企业和政府附属的特殊企业进行了分析。本研究的所有成果都已在学术论文中进行了总结，这些论文已经在日本和海外的学术会议上发表，并提交给学术参考期刊。首先，邮政服务行业的通用快递(USO)成本约占总收入的17%。即使邮政服务私有化完成，普遍服务成本仍占总收入的13%左右。除了私营化外，邮政署如要取得更好的业绩，重组是无可避免的。其次，根据对日本国家铁路民营化的计量分析结果，民营化后的TFP年增长率为2.97%，其中民营化使TFP年增长率提高1.62个百分点。此外，前Jnr的过度资本化已通过私有化得到纠正。在公路行业，公路等公共基础设施有助于提高私人生产率。至于高速公路上市公司的民营化，在垂直分立的方法上仍然存在问题。最后，在影响上市公司私有化决策的因素中，市场化因素是最重要的。两个以上监管机构的存在也会影响私有化决定。当有两个以上的主管当局(监管机构)时，私有化的可能性降低。较少

In this study, we analyze issues related to the privatization of government-affiliated special corporations and public corporations. The specific purposes of this study are 1) to evaluate the results of privatization, 2) to make clear factors leading to privatization, 3) to obtain policy knowledge and lessons from privatization. The main industries which we analyze in this study are 1) the railway industry, 2) road businesses, 3) the postal service industry, and 4) public utility industries such as bus service industries which comprise both public corporations and government-affiliated special corporations. We take the following steps in this study: 1) a survey of previous studies and an initial analysis, 2) data collection and the construction of a data base, 3) analysis by econometric models and recollection of extra data sets, and 4) model construction and a policy analysis. In 2004, we analyzed mainly the postal service industry and the railway industry. In 2005, we focused on the … More analysis of the postal service industry and road business. In 2006, the final year of this study, we performed an analysis of road businesses, other public corporations, and government-affiliated special corporations. All results obtained in this study have been summarized in academic papers, which we have been presenting at conferences and submitting to academic refereed journals in Japan and overseas.The main results provided in this study are summarized as follows. First, the universal supply (USO) cost in the postal service industry attains around 17% to total revenues. Even if the privatization of postal services is accomplished, the USO cost still remains about 13% to total revenues. In addition to privatization, it is inevitable that the Post Office be reorganized if better performance is to be accomplished. Second, based on results from econometric analysis of the Japanese National Railways privatization, TFP growth after privatization was annually 2.97%, with privatization raising TFP growth by 1.62% annually. Furthermore, over-capitalization at the former JNR has been corrected by privatization. In the road business, public infrastructure such as roads contributes to an increase in private productivity. As for the privatization of the highway public corporations, there remains a problem in the method of vertical separation. Last, as for factors affecting privatization decisions of public corporations, the marketability factor is the most important. The existence of more than two regulators also affects privatization decisions. When there are more than two competent authorities (regulators), the possibility of privatization decreases. Less