Thirty years after water privatization—is the English model the envy of the world?
回顾英国水私有化三十年，评估其是否比欧洲主流的国有化模式更优，并探讨效率、管理激励、私人投资及资本成本等关键问题，最后提出一种更好结合公共责任与私人激励的替代监管模式。
Abstract The paper considers whether water privatization 30 years ago has delivered the promised superior performance to nationalization, which remains the dominant model in Europe. The paper sets out the arguments at privatization, in particular in relation to efficiency, the managerial incentives, the role of private-sector balance sheets in facilitating investment, and the impacts on the cost of capital. Alternative explanations of relative performance, notably the regulation model adopted, are highlighted, and the paper concludes by outlining an alternative model of water regulation which better marries up public responsibilities and private incentives.