In revitalizing the Japanese economy with Prime Minister Junichiro Koizumi at the helm, Japan should look to France as a model for privatizing its special-purpose entities in light of years of debate and analysis that have resulted in little action.
One criticism of the Japanese government is that it creates endless delays before executing reform, only to end up with very limited measures. In France, however, this logjam blocking privatization has recently been overcome.
The French example of privatization is particularly germane because of the government's reputation for exercising strong control over national matters. The same situation exists in Japan. France has a long history of intervention in its economy and has privatized 30 government-run companies over the last 14 years.