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Happily, the revolution going on in the telecommunications industry is benign. Technological change and competition are making possible changes considered improbable even 15 years ago. The WTO Agreement on Basic Telecommunications Services created a new regime for the world market. Now we must pay close attention to regulatory fundamentals. Every country serious about introducing competition finds that the transition from monopoly to competition is both economically rewarding and laden with policy dilemmas. As a new century begins, we have an essentially new market for telecommunications. Digital technology forced a reexamination of the opportunity costs of protecting traditional telecommunications equipment and service suppliers. An inefficient market for telecommunications threatened competitiveness in the computer, software, and information industry markets. Meanwhile, after dislocations created by global stagflation through the early 1980s, developing countries became interested in privatization of state enterprises as a tool of economic reform-and state telephone companies were especially promising targets for privatization. Those countries began exploring options for allowing selective competition, as phone companies in major industrial countries began looking to foreign markets for new business opportunities. The WTO Agreement on Basic Telecommunications Services created a new regime for the world market. Now we must pay close attention to regulatory fundamentals: Low barriers to entry in the market for communications services; Effective rebalancing of rates for services during the market transition; Strong interconnection policies; The creation of independent regulatory authorities with the resources and power necessary to foster competition and safeguard consumer welfare. Cowhey and Klimenko assess how developing and transition economies have fared in profiting from changes in the telecommunications market. They also examine the policy challenges that remain, paying special attention to the global market and regulatory milieu fostered by the 1997 WTO agreement. They ask what this latest transformation has taught us about wise management of this vital part of the world economy's infrastructure. They focus on the economics of managing the transition to competition, the design of proper regulatory policies and processes, and the embedding of domestic telecommunications in the world market. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to help developing countries formulate negotiating positions for WTO talks. Mikhail Klimenko may be contacted at mklimenko@ucsd.edu.

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Economic policy and planning (general) --- Internal politics --- China --- S10/0251 --- S10/0330 --- S10/0760 --- S10/0835 --- S10/0700 --- S14/0454 --- Education and state --- -Information technology --- -Knowledge management --- -Technological innovations --- -Technology and state --- -State and technology --- Technology --- Endowment of research --- Science and state --- Breakthroughs, Technological --- Innovations, Industrial --- Innovations, Technological --- Technical innovations --- Technological breakthroughs --- Technological change --- Creative ability in technology --- Inventions --- Domestication of technology --- Innovation relay centers --- Research, Industrial --- Technology transfer --- Management of knowledge assets --- Management --- Information technology --- Intellectual capital --- Organizational learning --- IT (Information technology) --- Telematics --- Information superhighway --- Knowledge management --- Education --- Education policy --- Educational policy --- State and education --- Social policy --- China: Economics, industry and commerce--General works and economic history: since 1989 --- China: Economics, industry and commerce--Employment --- China: Economics, industry and commerce--Transfer of technology --- China: Economics, industry and commerce--Postal service and telecommunications: since 1949 (including E-commerce) --- China: Economics, industry and commerce--International economic relations (incl. development aid and problems, WTO) --- China: Education--Education: since 1989 --- Economic aspects --- -Government policy --- Government policy --- Economic conditions --- -BUSINESS & ECONOMICS --- Economics / General --- Technological innovations --- Technology and state --- Knowledge economy --- Management Theory --- Business & Economics --- -S10/0251 --- -China: Economics, industry and commerce--General works and economic history: since 1989 --- -China --- BUSINESS & ECONOMICS --- -Economic policy and planning (general) --- Management. --- Cina --- Kinë --- Cathay --- Chinese National Government --- Chung-kuo kuo min cheng fu --- Republic of China (1912-1949) --- Kuo min cheng fu (China : 1912-1949) --- Chung-hua min kuo (1912-1949) --- Kina (China) --- National Government (1912-1949) --- China (Republic : 1912-1949) --- People's Republic of China --- Chinese People's Republic --- Chung-hua jen min kung ho kuo --- Central People's Government of Communist China --- Chung yang jen min cheng fu --- Chung-hua chung yang jen min kung ho kuo --- Central Government of the People's Republic of China --- Zhonghua Renmin Gongheguo --- Zhong hua ren min gong he guo --- Kitaĭskai︠a︡ Narodnai︠a︡ Respublika --- Činská lidová republika --- RRT --- Republik Rakjat Tiongkok --- KNR --- Kytaĭsʹka Narodna Respublika --- Jumhūriyat al-Ṣīn al-Shaʻbīyah --- RRC --- Kitaĭ --- Kínai Népköztársaság --- Chūka Jinmin Kyōwakoku --- Erets Sin --- Sin --- Sāthāranarat Prachāchon Čhīn --- P.R. China --- PR China --- Chung-kuo --- Zhongguo --- Zhonghuaminguo (1912-1949) --- Zhong guo --- Chine --- République Populaire de Chine --- República Popular China --- Catay --- VR China --- VRChina --- 中國 --- 中国 --- 中华人民共和国 --- Jhongguó --- Bu̇gu̇de Nayiramdaxu Dundadu Arad Ulus --- Bu̇gu̇de Nayiramdaqu Dumdadu Arad Ulus --- Bu̇gd Naĭramdakh Dundad Ard Uls --- Khi︠a︡tad --- Kitad --- Dumdadu Ulus --- Dumdad Uls --- Думдад Улс --- Kitajska --- Economy of knowledge --- Information economy --- KBE (Knowledge-based economy) --- Knowledge-based economy --- Economics