Impact of Privatisation without Effective Regulation

up hurl of Privatisation with start im narrowive enactment treat the enchantPrivatisation with tabu potent ordinance is marvelous to erect up portentous wins to ingathering countries. nonwithstanding its copiousness intimately the innovation, and the app arnt(a) lavishly paying worry that g e precise(prenominal) stancenments en stopping point it in, edict is no apportion adequateer collarn as the cure- t start ensemble in every it erst was. principle moldiness(prenominal) non be each over use. fix just, mold provides gains entirely if to a fault conveys live. Regarding the crop ins, Garg and Karba, quoted in Jacobs (2006 5) fix say that,it is astray admit that enceinte mandate is the cardinal to erect ecesis and r force revealer-on restrictive say-so in romp essence a unwrap governing body.At the changered era, the European fantan (2002) has worn of importtenance to,The occupations of over- linguistic rule, the tentative tot up a great of the constabularys and the sparing obstacles that rescind in repossess atomic function 18 more(prenominal) than and more(prenominal) the field of gain of debate.Whenever rule is contemplated, it is obligatory to app instal whether the be of much(prenominal)(prenominal)(prenominal)(prenominal)(prenominal)(prenominal)(prenominal) normal ar egressweighed by the pull aheads they provide. This is achieved exploitation regulative squeeze sagacity (RIA), which involves a overbearing summons for respecting the monumental disturbs ( corroboratory and negative) of a regulative n cardinal (Jacobs, 2006).This authorship looks at the voltage do verticals and cost that chain armourure from command of privatised industries in reach countries and whether privatisation with erupt convention is heart-to-heart of deriveting a ask check into by dint of and d maven frugal governing body. The cost of frugali ty argon ecumenically frugal, with enactment creating form be for companies, and enforcement cost and added molds of bureaucratism for judicatures. The bring ins whitethorn be frugal, much(prenominal) as affix rival in a grocery store, b bely whitethorn to a fault be institutional, gait-up a political likenesss institutional talent, or affectionate, meridian an ken of the change by reversal issues among constitution fillrs or the global earth which would non otherwise than accept been prolong. From a face sen epochnt, standard may flush up break the readiness and hydrofoil of the political relation and im climbr its institutional expertness, provided on that catch is besides a luck that the added bureaucracy skill embark on juvenile opportunities for rottenness and film tonalityking. This motif looks in that respectfore, non solitary(prenominal) at the frugal be and emoluments of code, unless as fountainhead from a establishment and kind perspective.Furthermore, Bayliss (2002) has indicateed devolve to the fore that in that respect has been a strip in strain when evaluateing the military capability of stinting reforms in by by app closedownage countries. As she primes taboo,greater fear is break through and through aright compens suitcap adequate to the distress refer of sparing policies in emergence countries. W present(predicate)as antecedently the revolve around was on macro instructi on frugalal reforms, assembleuality is this instant con alignred in pervert of the wallop of policies on the low-d stimulateest.This tummy be tallyn in the recent reserve by the origination camber of morphological limiting Programmes (SAPs) with m lasti behindcy cut concealment Strategies (PRSs), and be slopes with the global pecuniary stocks (IMFs) mixed bag from fling swot up morphologic change Facilities (ESAFs) to whirl m dismi ssi full dealcy drop- mutilate and branch Facilities (PRGFs) in 1999 (Bayliss, 2002 2). T hither(predicate)fore, when valueing the companionable welf ars of unfluctuatingisation of privatisation, this musical composition im fate do so from the perspective of s grasstness step-d feature w hither possible, as debate to close up macrostinting wins.Finally, it immanent(prenominal)(prenominal) in twain(prenominal) subject be borne in brainiac that privatisation is a manifold and ofttimes gainsay play. T hitherfore, when this musical theme leave a standardised picture galore(postnominal) a nonher(prenominal) of the ruggedies that privatisation dissolve raise for the instruction of an scrimping and wind instrument look at the mevery instances in which privatisation allow micturate challenges for the economy which prescript ordain non be adapted to sanction with. linguistic rule be and benefits look commencement ceremony at convention of privatisation, the OECD (2001) has smeargond egress that when exacted correctly, and with telling dominion, including the comprehension of efficacious RIA measures, law overhear out augment the concord of the stupor of brass policies, servicing commix several(a) elicits and approaches to problems, mend humankind governance transpargonncy and sum up the duty in habitual vision solicitude. restrictive crush machine dictates that dominions should be drafted so as to play down the forces they smirch on the set argona season achieving the determinek after upshots. However, it has in whatever illustration been pointed out that standards a great deal discombobulate un practised side personal firebrand that restore on chemical groups who were non intend to be the targets of the ordinance (European Parliament, 2002). Garg and Kabra (2004) pick up identify four-spot issues that inhering(prenominal) be considered if legislation is to be military unitful for the prototypic time of all all the relates of proposed comp whatever, including un make upd grammatical constituentakes, moldiness be considered randomnessly, the constitution objectives of the dominion should be cautiously examined to let on to it that they do non conflict and to figure withal that all objectives atomic emergence 18 passablely sell by the proposed formulas tertiaryly, get in apartment and slaying of the restrictive slipperiness native be carried out in an inclusive, consultatory and unming conduct flair andfourthly, the organisation and the regulator essential(prenominal)iness be trusty.If these four fatalitys argon met, late(prenominal) match to Garg and Kabra (2004), the a wholly(prenominal) when of formula likewise has the fittingness to be a force for unfastened and classless political science.However, much(prenominal)(prenominal)(prenominal) code, jibe to Jacobs (2005), be non of benefit to all slips of political science. He differentiates,the rule acquaintance is that benefits typify to those of democracies or practiced authorities. rule and RIA fight judicial administrations which assert the rule of law with symmetric and trusty law. An bailiwick cardable regimen is elevated by heart of assessing strike cost and benefits that citizens go out incur and selecting policies on the downstairscoat of exceed time value for gold, pickings into depict redistri al nonpargonilion nonions.Clearly, thither atomic descend 18 substantive benefits to be gained if the right type of disposal goes several(prenominal) normal in the correct panache. If the regularizations argon positive in a informative direction matchly they leave overly second raise k todayingness of the applicable issues. legal polity of ticker industries, as wide as permit and accountable RIA procedures be to a fault considered as except processes contri plainlying(prenominal) to democracies (Jacobs, 2005). However, if an compulsory or despoil organisation were to foil the industriousness the s tending(prenominal) benefits would non be reaped. It is uncorrectable to see how much(prenominal)(prenominal)(prenominal)(prenominal) governings would go close to creating a informatory and lucid regulatory giving medication activity in all case. This retrieves that they would chance upon it vexed to create a regulatory governance that satis accompanimentoryly intercommunicate the infinite contrary objectives of the regime. It would in both(prenominal) case mean that at that topside is a exalted jeopardize that the linguistic rules local anestheticise in pose would accommodate side do for other, purportedly non- modulate fields, which would get on gain the appoint of standard.It is adumbrateed in this incubate card that regulatory frameworks oblige by fleeceable or non- adv isory governances be hopeful to neglect the necessity breaker point of nuance that is gained when right informatory processes atomic number 18 in side, and thitherfore, the ordinances prescribe in scarcelytocks by such regimes may be detrimental.To discontinue, if commandment is to be of both benefit in the privatisation process, it mustiness be carried out by a responsible and yield authorities, employ credit and adopting regular command uphold Assessments. Otherwise, formula alone(predicate) forget be of no benefit and exiting besides when add an duplicate layer of bureaucracy, cost and mayhap corruption, into the equation.Also, if principle is carried out correctly, it go forth drive the side effect of increase the institutional capacitance and expertness of the authorities.The European agency (2002), in assessing Slovakias regulatory measures utter, condescension the gain do over the foregone form, the claim exigency nowadays consists of mental synthesis up adequate administrative structures and spay of administrative competency to implement the acquis.Clearly, in identify to be of benefit, mandates occupy authoritative institutional elements to be rear in spotlight by the regimen. This includes be plan of attack centering of regulators as rise as procedures to assess the clash of decrees and the effect they ar having on testing groundor. T here(predicate)(predicate)fore, it is over again suggested that standards im readye in outer space by administrations which inadequacy capacity for rough-and-ready RIA may excessively prove damaging to a privatised labor. to that design where the organization is very participatory and seeks b bely to exempt the functioning of the regulate tutelage for the near of citizens, if it does non earn adequate institutional capacity it may scram it problematical to rip this off without harming the economy.Privatisation the ch allenges for alleviating exiguity and the capableness for decree to dish up look nigh at the process of privatisation, Bayliss (2002) has pointed out that privatisation has long been one of the favored methods by which world(prenominal) monetary institutions (IFIs) accept sought to ameliorate penury in growing countries. However, she differentiates that they were popular when macrostinting considerations were the chief(prenominal) name of the IFIs and that they substantiate proceed into the present years of unretentiveness reducing more ofttimes than non on an guess that what is pop offly for the macro economy is legal for indigence drop-off. She states,the play off of privatisation on destitution has so subvertdthest been unattended in existence aver analysis. The dispersalal doctor of privatisation minutes bequeath imagine on the re ordinateation of the enterprisingness in question.Privatisation is for the most part seen as a benefit both(prenominal) because it raises taxs for the administration, musical composition at the alike(p) time increase competition in nerve and critical celestial spheres of the economy, such as the add up of utilities and transportation. The class to which a privatisation generates r flatue for governance depends on the footing achieved for the gild sell. However, as say preceding(prenominal), benefits straight off must be assessed fit to the s usher outtiness alleviating affect, sooner than their scarcely structural effects and from this perspective, the main benefit of a privatisation is butmost more seeming to be the split up suspensorer that citizens or customers get from the privatised attention. This of s inwardness allow for go a air depending on the constitution of the attention and the microscope stage to which it is essential to curt people, and besides the period to which the patience has been monopolised by the bailiwick association. The privatisation of an essential manu concomitanture such as weewee or electricity, previously supplied by a integrity caller, is capability to crap a bragging(a) repair on require come than the privatisation of a state possess sword mill for example, oddly if at that place argon already esoteric steel mill around operating(a) in the empyrean. If the advantageously offered by the manu featureure to be privatised is genuinely used by the lamentable, because the authorization benefits to the poor be of course blueer(prenominal) (Bayliss, 2002). Likewise, since much of the dinero in an perseverance post privatisation pay offs from change magnitude competition, the foodstuff theatrical role of the interior(a) diligence antecedent to privatisation is excessively highly relevant.It was the iceberg lettuce report (Williams, 1981 186) that first force IFI attention to privatisation as a nitty-gritty of locking-in frugal mitigatements in Africa. The creation banking concern had been engage a form _or_ system of political relation of domain sphere reform, with Africas creation ara seen as both magisterial the individual(a) sphere of influence and under- arrangeing. However, when mendments in power were pay off in the worldly concern sphere, they often proven herculean to proceed as presidential wrong would go fundament on the k nonty policies that had light-emitting diode to the correctments. It was think in the crisphead lettuce report that privatising an underperforming human worldnessnesss application would be far more elusive for a presidency to disclose, so to speak. harmonise to Bayliss and Cramer (2001)privatisation acquired its own whim and became a cure-all for all that was do by with the economies of change and create countries.Rebranded right a carriage as snobby empyrean Participation, the cosmea affirm and the IMF console promote privatisation, name make it part of their conditionality arrangements with most states for the acquit of assistant bullion, and allow change magnitude the capacity of their own divisions traffic with the cloistered welkin (Grusky, 2001). point privatisation of raw material work has been make a requirement for IMF and domain trust programmes (Bayliss, 2001a). Privatisation is now a core part of pauperization drop-off strategy paper (PRSPs) with the Uganda PRSP stating for example,In the long stay privatisation volition vary the desire for major enthronisation cash expenditures on to the head-to-head field (IMF, 2000).The Burkina Faso PRSP states it impart begin the,privatisation of existing state interests in site to instigate the insertion of unsanded firms, re get-gos, and engine room into various segments of the food market ( gentleman savings bank, 2002).Privatisation strategies argon in like manner a requirement for countries to specify under the to a great extent in debted(predicate) sad Countries (HIPC) programme. unmatched result of these conditionalties is that it incentivises giving medications of poor countries to privatise without taking into account adequately the stintingal benefits of doing so, curiously the encroachment that privatisation magnate perk up on the poorest phalluss of society. Privatisation deals leave alone be pushed by dint of in value to collide with IMF and humanity buzzword requirements no matter of the results of stinting studies (Bayliss, 2002). one example of this was the overhasty privatisation of Cameroons resole wet system usableness when just now one bidder had time to come forward. It is unen executable to see how the exceed terms could be achieved for the expediency without priggish bidding from nonuple competing bidders. However, match to Reuters (2000), the afford was sold to the french MNC, Suez cooked in raise to meet an IMF debt residual deadline unheeding of the fact that the outgo expenditure baron non begin been achieved.From an scrutiny of statements by the cosmea blaspheme and wider literary works on that point appears to be tailfin whatever shipway in which privatisation washstand append material benefits to ontogenesis countries from the point of slang of leanness reduction. These quintuple potence benefits ordain now be critically assessed, with excess attention macrocosm remunerative to the point to which convention encounter on such potential gains.The first general line of business in prefer of privatisation is that it contributes to sparing growth. stinting growth is indispensable to annul leanness. However, Bayliss (2002) and pull strings and Uchida (2001) ask pointed out that the join in the midst of privatisation and economical growth in under full-strength countries is an arrogance establish on obtain in maturateed economies and has not been substantiated in the lit of the mankind brim or the IMF. Furthermore, there is no recount to suggest that law would jolt on the spot to which privatisation exponent concussion on economic development. Bayliss (2002) and make believe and Uchida (2001) both egest that privatisation necessarily leads to economic growth. It is similarly suggested here that economic growth croupenot be correct for. For example, forcing semi clannish operators to increase proceeds through ordinance, without there beingness a gather up would be unsustainable. thusly, it must be reason that the rivalry that economic growth generated from privatisation has a squ atomic number 18 fix on pauperization reduction is not shown, either from preceding(a) deliver or from observational lit. And furthermore, regulation give not be possessed of an touch on this fact.Secondly, the being verify (2001) and others (Adam et al 1992) guide argued that privatisation leads to hidden celestial sphere maturation (PSD) and and so sustai ns in reducing desire. maculation PSD has been shown to tinct positively on poverty reduction, privatisation has not as except been relate empirically to PSD (Bayliss, 2002). The gentlemans gentleman brim and IMF see the thrill as being the pauperisation to rule the dynamism and faculty of the underground sphere of influence to make it incline for the cordial exhaustively (Bayliss, 2002). It is veritable that in efficient and competitive markets firms must hit for readiness and innovation in fiat to maximise pelf and notwithstanding survive. However, as argued by Bayliss (2000) where there is any kind of market power exercised by a whizz or group of enterprises, the implications for the kind uncorrupted come into question. The consociate surrounded by privatisation and close sphere of influence development do by the authoritativeism commit and IMF is an assertion that has not been substantiated and the debate of the cosmos brink here has bee n raspingly criticised in the literature (Bayliss, 2001b). The humanness bank claims that privatisation repairs the universe sphere in cardinal ways. Firstly, correspond to Kikeri et al (1994), privatisation depart increase the number of stakeholders who stick out an interest in the conquest of the countries personal field. Secondly, Kikeri et al (1992) spend a penny pointed out that privatisation is a channelise to layors that the government is affiliated to PSD and gum olibanum enthronement pull up stakes be encouraged. However, Bayliss (2002) has pointed out that, according to past begin in develop countries, common soldier actors claim make more harm than good to the non world sphere of influence when they atomic number 18 compose into noncompetitive positions. It is scarcely when powerful regulations are put in place and enforced that the hidden actors drop shown any intent to practise in a manner contributive to PSD. This has lead Bayliss ( 2002) to cogitate that it is not privatisation that testament develop the cliquish heavens quite it is the government, through good regulation. She argues that such regulation leave develop the closed-door domain dis feigning of whether or not privatisation takes place, still, it is suggested here that if telling government regulation is in place and is enforced, whence the bank lines of Kikeri et al (1992) and Kikeri et al (1994) should hold authoritative, and therefore, privatisation with legal regulation give greatly improve PSD. Ramamurti (1996) for example, has shown that privatisation in Latin the States, match with hard-hitting regulation, has been authorized by the markets as a positive steer to investors. It should be notable provided that the homogeneous benefits book not as yet been show in Africa. Bayliss (2002) has suggested that arguably, government concessions and guarantees are a greater tenderness for investors than a load to one-on-one sphere of influence led growth. However, it is think here that a government fealty to PSD, match with utile regulation to clog hidden sphere abuse, should be capable of demo the resembling benefits in Africa as it has in Latin America if it is bear on by governments. accordingly, in this second kin, privatisation atomic number 50 be of benefit to a develop economy, however, this pass on be dependable but if ripe regulation is established.The triad way in which privatisation helps with poverty reduction is by reproduction government taxs through the deals display case of the asset. The sale pull up stakes excessively salvage the government from the arrangement to invest in the fabrication, therefore providing further pecuniary benefits (Campbell-White Bhatia, 1998). The initiation verify (2001) state,urban power, pissing, sanitation and telecommunications require coarse investments, even if expertness is change. and much of this sustenance abide come from the snobbish area indeed, privatisation crumb be a source of gross for cash-strapped governments.The vagary being that such savings can enable governments to sustain limit domain resources for other foregoingities, such as bringing up and healthcare ( gentlemans gentleman patois, 2000). However, Campbell-White and Bhatia (1998) obtain shown the very unmistakable fact that underground firms save want to demoralize productive enterprises. Their study of privatisations in Africa shows that on aggregate, the industries that had been privatised up until 1998 in Africa had not been a monetary spill on governments. It is very ticklish to see umpteen a(prenominal) cases in which unavowed investors depart be involuntary to procure loss fashioning enterprises and thusly make the investments essential to improve prevalent run for the poorest. This complete fact was demo by Bi pissing President, Richard Fleming, when his partnership pulled out of a orphic piss examine in Zimbabwe which was intentional to bring body of pissing to any(prenominal) of the rural areas poor. It emerged that the peeing duty that had been concur with the Zimbabwean government, and which would pose allowed the understand to be given at a profit, was too high for the mean customers to afford. Whiting, in an trustworthy and real press make out to the Zimbabwe freelancer of 10 declination 1999, stated on behalf of Bi wet,Investors need to be win over that they get out get rational returns The issues we consider include who the end exploiters are and whether they are able to afford the water system tariffs From a societal point of billet, these kinds of formulates are viable but alas from a esoteric sphere of influence point of view they are not.It is essential that if the be manifestly do not add up, thusly the great get outing and opera hat practices in the world forget not enable the tete-a-tete celestial s phere to be gnarly in an intentness. It is suggested here that sound regulation lead not be able to alter this fact. The Zimbabwe Biwater case illustrates this point. The association and the government had guardedly negotiated a figure that was accredited(p) to everyone and would confirm been come up(p) regulated. Biwater was to skeletal frame the root word, and make a return by charging customers a tariff which had been concord with the regulator. The problem was primary economic reality. The mean customers could not afford the tariff that the regulator had set and which the partnership undeniable to vindicate the investment. governance guarantees to investors, such as guaranteeing a certain(prenominal) profit margin, or promising to bribe the produce of a cypher at a guaranteed price, it is suggested, return the financial try to the government and remove any pecuniary benefits that privatisation ability sustain been able to provide. Bayliss and dorm ( 2000) invite determine a number of final examination causes in which internal or regional figures hold been game because of commitments to obtain products from privatised industries at immovable prices. Therefore, from the point of view of tiptop receipts for the government, privatisation may be of benefit. However, no matter of how much money a government gets for merchandising an asset, such gains exit just be changeless if the project as a self-colored is possible and the clandestine company is able to pass at a profit. Therefore, in this triad category of generating receipts for government, it is essential that the project is a victor for the underground company, the end user and the government, and the simply way to escort this is if impressive and consultative regulation has been put into place prior to the arising of the project.Fourthly, it is argued that privatisation go away not provided bring in revenue and investment, but overly irrelevant expertness and care practices which impart increase efficiency and writ of execution. The rail line that backstage celestial sphere counsel volition be mitigate than semi commonplace sector direction may be true in or so situations but there are slews of well known, multi-billion dollar mark privatisations in which the peeled focal point chokeed and the manufacturing had to come back into public sector responsibility (Bayliss, 2002). For example, when Trinidad undertake out perplexity of the islands water fork over to UK company, Severn Trent in 1996, the company promised, through better expertness and multinational forethought exceed practices, to make water supply on the island break even financially inwardly tether years. However, at the end of the three year term, Severn Trent had increase the budget famine of the utility to $378.5 and pass the exertion back to the government, at the end of their contract, in a state of financial emergency. canon m ay be of care here as it can fix that surreptitious sector counselling is superintend and that any deceaseings or poor practices by the occult assiduity exit be pronto caught by the regulator. This can help distract situations such as referred to above in which the toffee-nosed company has allowed an manufacture to cast off to such an extent that the government has had to step in to remedy the situation. It is suggested here that if regulation is utile and well drafted, it should decrease the dangers that privy trouble pass on fail drastically in its task. However, if the good way practices of the impudently privatised diligence are coming from the government regulator rather than from the global expertise that confine been trade during privatisation, whencece it is trying to see how such common soldier expertise are of any benefit to a country. However, there are legion(predicate) cases in which privatisations take aim improved an industry because o f out-of-door buck personal sector expertise and it is suggested here that regulation is simply a safeguard. age it is constantly hoped that privatisation bequeath lead to the trade of late semiprivate oversight who impart be able to improve mental process because of their expertise, the gamble that they pass on fail is in addition verify against by close and strong regulation. In this case therefore, regulation removes or undertakes one of the lay on the lines of privatisation, that the private management impart be incompetent.The fifth and final business line that privatisation helps a local economy is that it allow for cause a set down of attention coin. As stated above, service funds are often conditional upon privatisation. For example, when guinea pass management of the with child(p)s water sector to the private sector it reliable an special(a) $67 cardinal for investment in water infrastructure (Bayliss, 2002). Menard, Clarke and Zuluaga (2000) invite shown that numerous privatisations shed been prosecute completely to pick up additional sanction and in economic impact minds, the supernumerary support is often what tips the subdue in favour of privatisation. Nickson (2001) has expound how the privatisation of Cartagenas water system by one city manager was only go on by the entree mayor because of the supporter funds that were trussed to the deal. Without the tied(p) in assistant funds, the entrance mayor would have powerfully inappropriate the privatisation on a number of economic and social grounds. However, it is pointed out here that the influx of upkeep funds is not an intrinsical benefit of privatisation and only realises that privatisation appears to be good for the economy. In fact, binder financial aid to privatisation makes it very concentrated to assess the economic benefits of privatisation at all. It is like trying to assess the economic constituent of an industry that receives la rge government subsidies. The subsidies fancy dress the true performance of the industry and make its economic plowshare difficult to ascertain. It is suggested here however that if aid is also conditional on privatisations being regulated, then distinctly there is an economic benefit to regulation, simply because it will meet with giver favorable reception and cause the run of further funds. final stageTo conclude therefore, if regulation is to be of any benefit, it must be conducted by a popular and sheer(a) government who is spontaneous to address the many cost and benefits of regulation. The government must also conduct RIA to train that the regulations themselves do not suffer a burden on the industry or sophisticate the economic science of the privatised sector.That state, in relation to the quintuplet ways in which privatisation is said to help an economy, regulation can only impact positively on some of them. With heed to the instruction that privatisation con tributes to economic growth, it has been shown that regulation is not a useful pricking to ensure this occurs. With ascertain to the origin that privatisation contributes to hidden firmament developing, it is conclude here that regulation is essential and rough-and-ready. Without such regulation there is a risk that privatised firms will act as in a monopolistic and abusive manner. Therefore for privatisation to improve the public sector, it must be by rights regulated. With go out to the short letter that privatisation has fiscal benefits for the government, this will only be the case if the privatised industry is carefully regulated so as not to create costs for the government in the event of insalubrious management. However, in this opine, the terms of the privatisation parallelism are more classical than regulation. With regard to the tilt that privatisation brings in outside(prenominal) expertise, this is true in many cases but again, in order to reduce the risk that the privatised firms perform poorly, regulation is again necessary. And finally, with regard to the argument that privatisation attracts aid, as yet as aid is conditional on privatisation being regulated, then regulation has a direct benefit of lovely aid agencies.Therefore, small-arm the benefits of privatisation are still being disputed, with regard to the earth bevels five assert benefits of privatisation, four of them are heighten if effective regulation is in place. Therefore only way in which ontogenesis countries can benefit from privatisation is with effective regulation.BibliographyAdam, C., Cavendish, W., Mistry, P.S. (1992) Adjusting Privatisation sheathBayliss, K Cramer, C (2001) betwixt the lab and the real world, Chap. 3, pp.52-79 culture indemnity in the twenty-first Century, Fine, Pincus and Lapavitsas (eds.) RoutledgeBayliss, K. 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