Industrial Autonomy as a Method to Privatize Government Function in Taiwan: The Example of Self-Regulatory Mechanism of Securities Market
Date Issued
2005
Date
2005
Author(s)
Chao, Shiang-Wen
DOI
zh-TW
Abstract
Privatization is an international trend and its object has been extended from state-owned enterprises to public services. Therefore, the role of the state has shifted from the service provider to the regulator and the guarantor. The privatization of government function emphasizes to introduce private resources into the fulfillment of public services to relax the state’s burden, which is highly correlated to the government reform program. In Taiwan, the government reform program includes four major types: localization, administrative body, outsource and divest. From the views of group discipline and participation, autonomy (self regulation) has the character of the both in a high degree, but has not attracted much attention. This dissertation argues that autonomy can fill up the gap of privatization of government function in Taiwan. To be more specified, the self regulation mechanism of securities market is raised as an example of the application of autonomy in government reform. Self regulation is widely recognized internationally, and the most important organizations are securities exchange and associations of securities firms. Both of the organizations have existed in Taiwan for a long period, but have not operated very well and are influenced by the government. In the era of government reform, Taiwan has the opportunity to establish a comprehensive self regulation institution and put it into practice, if the legal system and enforcement experience of developed countries are referred in depth. Therefore, it can help to decrease government burden and discipline social forces.
Subjects
自治
自律
行政任務民營化
證券交易所
autonomy
self regulation
government reform
securities exchange
securities association
Type
thesis
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