The paper "What Is the Purpose of National Competition Policy" is a great example of an assignment on macro and microeconomics. In a generic sense, a statutory authority can be perceived as an entity in the public sector which is created through legislation that is in alignment with the specific law of a particular state or region (Commonwealth of Australia, 2003). Thus, the statutory authorities are set up under the law and are mandated with the role of enforcing legislation on behalf of a particular state or country. In a broader sense, these bodies are predominant in countries whose governance is primarily founded on the British style of parliamentary democracy, for instance, in Australia and New Zealand among other countries although they are also found in other states using different governance models. On the other hand, government business enterprises (GBEs) can be viewed as entities that are established by a government under a legal framework and are mandated with the role of undertaking commercial activities on behalf of the government which owns them.
The main difference between the GBEs and other forms of government agencies or state agencies is that the GBEs are usually established to pursue financial objectives while majority of other state entities purely pursue non-financial goals. Lastly, regulatory agencies can be viewed as bodies which are formed by the government and mandated under the terms of a statute (legislative act) and are aimed at ensuring that there is extensive compliance with the provisions of the act under which they are formed and in carrying out its designated purpose (Business Dictionary, 2012).
The regulatory agencies are also sometimes referred to as regulatory authorities or regulatory bodies. Deregulation and privatization in different countries around the world have posed extensive impacts on these institutions.
In regard to the government business enterprises (GBEs), there has been extensive research on the impact of privatization, mostly in the emerging economies as exemplified by Nellis and Kikeri (1989), Ramamurti (1992), Laban and Wolf (1993), and De Castro and Uhlenbruck (1997) among others.
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Laban, R., & Wolf, H. C. (1993). Large-scale privatization in transition economies. American
Economic Review, 83: 1199-1210.
Lloyd, C. & Ramsay, T. (2009). The Transformations of Australia’s Labor Market Since 1983:
From Social Democracy to Regulatory Capitalism?. Retrieved 06 December, 2012 from http://www.une.edu.au/staff/aclloyd/Lloyd_Ramsay%202009%20Aust%20Labour.pdf
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Nellis, J., & Kikeri, S. (1989). Public enterprise reform: Privatization and the World Bank.
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Queensland Government (1996). National Competition Policy and Queensland Local
Government. Brisbane: Queensland Government.
Ramamurti, V. (1992). Why are developing countries privatizing? Journal of International
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Shar R.C. & Kesan, J.P. (1999). The Privatization of the Internet’s Backbone Network. Retrieved
06 December, 2012 from http://www.governingwithcode.org/journal_articles/pdf/Backbone.pdf.
Smith, R. (1996). Competition Policy - Implications of the Hilmer Report for the dairy industry.
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Thierer, A.D. (1994). Unnatural monopoly: critical moments in the development of the bell
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Verikios, G. & Zhang, X.G. (2011).The distributional effects of the Hilmer reforms on the
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