Industrial Organization Analyses of the Privatization in the UK

1.本文分为两个部分：一部分是私有化政策的一般理论，另一部分是英国当前私有化的案例研究。2.民营化政策的一般理论包括民营化政策的背景分析、民营化政策的动机分析、民营化政策的目标分析、民营化政策的方法分析和民营化政策的目标分析。(1)我们认识到，私有化应被视为经济政策的一种策略。(2)但实际上，它的实施受到政治和利益集团的影响。(3)此外，由于每个拟私有化的公司都有各自的条件，因此在执行方面没有共同的准则。(4)在私有化进程中，能否提高资源分配和管理效率，确实是一个重要问题。3.在案例研究中，私有化政策的目标被分为三类：制造业、运输业和公用事业。(1)我们不仅必须考虑每一类私有化的适当程序，而且还必须考虑私有化公司的新监管问题。(2)有一些不好的情况下，政府仍然干预私有化公司后，出售股份。(3)尤其值得批评的是，政府可以通过“金股”对私有化公司行使自由裁量权。(4)“金股”似乎源于过去产业政策中的干预主义思想，但与私有化政策思想并不协调。(5)很明显，新的管理方法，特别是对公用事业的管理方法，应该从促进竞争而不是增加政府干预的角度来确定。(6)只有与促进竞争密切相关的政策才能提高效率。4.今后，这项工作将与“私有化与欧共体一体化”和“日本与英国放松管制政策的比较”等问题联系起来。

1. This work has two parts : one is the general theory of privatization policy, and the other is case studies of current privatization in the UK. 2. The general theory includes the analyses of backgrounds, motivations, objectives, methods and targets of privatization policy. (1) We recognize that privatization should be judged as a maneuver of economic policies. (2) In fact, however, the enforcement of it is affected by politics and interest groups. (3) Moreover there is no common quideline for the enforcement because each company to be privatized has individual conditions. (4) Indeed it is an important point whether the efficiencies of resource allocation and of management can be improved in the privatization process. 3. In case studies the targets of privatization policy are classified into three categories : manufactures, transports and public utilities. (1) We must consider not only appropriate procedures of privatization in each category, but also new regulation problems for privatized companies. (2) There are some undesirable cases which the government remains intervening in privatized companies after the shares are sold off. (3) Particularly it should be criticized that the government can hold discretionary powers to privatized companies through "Golden Shares". (4) "Golden Shares" seem to be derived from the idea of interventionism in the past industrial policy, but they are not harmonized with the idea of privatization policy. (5) It is evident that the techniques of new regulation, especially for public utilities, should be established in terms of promoting competition, not of increasing government intervention. (6) We can conclude that the efficiencies can be improved only by the policies which closely relate to promoting competition. 4. In future this work is to be connected with the issues such as "Privatization and EC Integration" and "Comparison of Deregulation Policies between Japan and UK".