In the past decade the United Kingdom has emerged as a pacesetter for institutional change in the telecommunications sector. Investment in the sector has jumped, despite the uncertainty one might expect from the United Kingdom's inexperience with public utility regulation, from its lack of constitutional protection against governmental and regulatory discretion, and from continuing institutional change.

Previous studies have claimed that two- tier producer and consumer food pricing policies lead to higher average farm prices. In fact, the impact on prices is negative in the more realistic cases. In India such a policy, designed to help the urban poor, probably hurt the farm sector as a whole, although it probably helped the rural poor in the short run.

Differences in the form, function, and scope of regulatory policies are traced to differences in social institutions, in the characteristics of the industries being regulated, and in the regulators' objectives and resources.

It is crucial to include the macroeconomic environment in any scenario that involves assessing the financial condition of a bank and its future liability. This paper describes the development of a simulation model that permits the user to examine in detail the interaction between a financial system and its economic environment.