ASEAN Economic Bulletin Vol. 5/3 (Mar 1989). Special Focus on "Privatization and Deregulation in ASEAN".

Contents

• Preliminary pages

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• ARTICLES
• Privatization and Deregulation: An Overview, by Ng Chee Yuen, Norbert Wagner, authors see abstract
  This overview paper gives a birds eye view of privatization and deregulation in the ASEAN economies. It begins by reviewing the raison d'etre for the proliferation of state-owned enterprises in the region. The case for privatization in ASEAN is presented, followed by a discussion of the privatization efforts thus far undertaken and the results hitherto attained. The problems of privatization in ASEAN such as management resistance, trade union objections, the limited aborptive capacity of the regions capital markets and the impact on income and wealth distribution are also examined.
• Trends and Prospects in Privatization and Deregulation in Indonesia, by Mari E Pangestu, Ahmad D Habir, authors see abstract
  This paper argues that while the process of deregulation may have been cyclical, there appears to be a stronger disposition on the part of the Indonesian Government towards deregulation of the economy than towards privatization, interpreted here to mean divestment of state-owned enterprises. Although some privatization has taken place, any large-scale transfers of ownership to the private sector are beset by political, ideological, and practical obstacles. These are discussed in some detail, as is the process of deregulation.
• Privatization in Malaysia: Restructuring or Efficiency?, by Toh Kin Woon , author see abstract
  This paper discusses the major issues confronting privatization in Malaysia. These include the difficulties encountered in the attainment of the efficiency objective; the conflict between the desire to raise revenue to reduce the fiscal burden of the government and the underpricing of shares; opposition from trade unions; and finally, the conflict between the efficiency objective of privatization and the restructuring objective of Malaysia's New Economic Policy. This discussion is preceded by a description of the changing economic role of the government and the reasons for the change.
• Privatization and Deregulation in the Philippines: An Option Package Worth Pursuing?, by Zinnia F Godinez, author see abstract
  This paper reviews the Philippines experience with regard to privatization and deregulation. It begins with a description of the growth of public enterprises and efforts at deregulation initiated in the early 1980s. The rationale for privatization is discussed followed by the progress of privatization thus far attained. The problems and barriers to effective implementation of the privatization programme, the state of the Philippine capital market and its potential rule in the privatization effort, are also examined.
• Privatization in Singapore: Divestment with Control, by Ng Chee Yuen, author see abstract
  This paper focuses on the divestiture of public enterprises in Singapore, although other modes of privatization such as contracting out and deregulation are also discussed. The paper begins with a brief description of the growth of public enterprises followed by a discussion of the size and types of public enterprises already and to be privatized. The different methods of privatization, the problems faced, and the achievements thus far attained are examined. The paper concludes with an assessment of the privatization programme in Singapore.
• Privatization in Thailand: Slow Progress amidst Much Opposition, by Poonsin Ingavata, author see abstract
  This paper looks at the reasons for the growth of public enterprises, the rationale behind privatization and deregulation, the different modes of privatization thus far implemented or proposed, the progress of privatization, and the issues and problems related to divestment in Thailand. Among the issues raised in this paper are the vehement objections of the trade unions, the difficulties encountered in the raising of the efficiency of erstwhile state enterprises, legal problems related to privatization and finally, the issue of vested interests.
• BOOK REVIEW: Privatisation in the Less Developed Countries, edited by Paul Cook and Colin Kirkpatrick, by Anne Yeo, author

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• BOOK REVIEW: Prospects for Privatization, edited by Steve H Hanke, by Michelle Oh, author

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• BOOK REVIEW: Privatisation and Development, edited by Steve H Hanke, by Toh Kin Woon , author

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• BOOK REVIEW: Selling the State: Privatization in Britain, by Cento Valjanovski and Mark Bentley, by Ahmad D Habir, author

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• ASEAN Chronology 1988

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