This unique book offers a comprehensive survey of the privatization and deregulation of the public sector in a number of important developed and developing economies. The first part examines the privatization and deregulation process in Japan, Korea, India, Latin America, the US and the UK. The authors examine the costs and benefits in each country and describe the private initiatives and ongoing government intervention in the new markets. Wide country coverage allows readers to compare and contrast the different regimes in each country, particularly in the less studied Asian and Indian regions. The authors also describe the regime in the US and UK, the forerunners of privatization initiatives, from which useful policy lessons can be learnt in terms of ownership, price setting, universal service and welfare implications. The second part offers sector surveys from important industries, including telecommunications in Japan, India and Latin America, electricity in the UK and US, and the banking sector in Japan.Privatization, Deregulation and Economic Efficiency will be useful supplementary reading for scholars and students of the theory and practice of public economics, as well as for governments and NGOs interested in the policy implications of the privatization and deregulation process.