Deregulation Of Network Industries
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Author | : Sam Peltzman |
Publisher | : Rowman & Littlefield |
Total Pages | : 228 |
Release | : 2011-04-01 |
Genre | : Business & Economics |
ISBN | : 9780815713418 |
Although the airline, railroad, telecommunications, and electric power industries are at very different stages in adjusting to regulatory reform, each industry faces the same critical public policy question: Are policymakers taking appropriate steps to stimulate competition or are they turning back the clock by slowing the process of deregulation? This volume addresses that issue and identifies the next steps that policymakers should take to enhance public welfare in the provision of these services. Each chapter identifies the central policy issues that have arisen in each industry as it undergoes transformation to a deregulated environment. The authors reveal the flaws in the residual regulations and make the case for faster and more comprehensive deregulation. A concluding chapter identifies how interest groups continue to exert influence on regulatory agencies and on Congress, potentially undermining deregulation. The papers included here were initially presented in December 1999 at a conference sponsored and organized by the AEI–Brookings Joint Center for Regulatory Studies.
Author | : Ingo Vogelsang |
Publisher | : Cambridge University Press |
Total Pages | : 94 |
Release | : 2021-11-04 |
Genre | : Political Science |
ISBN | : 110880781X |
Have you ever wondered how your telephone company or Internet service provider can give you access to almost all people in the world, or how electricity suppliers can compete with each other if there is only one electric supply line passing through your street? This Element deals with the economics and public regulation of such network industries. It puts particular emphasis on the specific economic concepts used for analyzing them and on the regulatory reform movement and the compatibility of regulation and competition. Worldwide most of these industries have changed dramatically in recent years, telecommunications in particular. Network industries mostly exhibit economies of scale in production and similar economies in consumption. Both of these properties cause market power problems that often require industry-specific regulation. However, due to technological and market changes network policies have moved on from end-user regulation to wholesale regulation and in some cases to deregulation.
Author | : Clifford Winston |
Publisher | : Brookings Institution Press |
Total Pages | : 92 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 9780815714385 |
For close to 100 years, America's surface freight industries, primarily rail and trucking, operated under the protective wing of the U.S. government. In 1980 Congress, finding vast inefficiencies in the two industries, substantially deregulated both, opening them at last to market competition. Deregulation has brought with it many changes—for firms within the industries, for their labor force, and for shippers and their customers. Clifford Winston, Thomas M. Corsi, Curtis M. Grimm, and Carol A Evans provide a comprehensive evaluation of the effect of the deregulation legislation on the rail and trucking industries. According to the authors, deregulation has made substantial progress in solving the two most vexing problems of the surface freight transportation industry—excessive rates in the trucking industry and insufficient returns on investment in the rail industry. Competition and efficiency have returned to both industries, and although the labor force in each has suffered wage and job losses, shippers and their customers have gained roughly $20 billion a year in benefits. The authors recommend policies that would continue to promote competition and the efficient use of highway and railway infrastructure.
Author | : James M. Griffin |
Publisher | : University of Chicago Press |
Total Pages | : 453 |
Release | : 2009-11-15 |
Genre | : Business & Economics |
ISBN | : 0226308588 |
The electricity market has experienced enormous setbacks in delivering on the promise of deregulation. In theory, deregulating the electricity market would increase the efficiency of the industry by producing electricity at lower costs and passing those cost savings on to customers. As Electricity Deregulation shows, successful deregulation is possible, although it is by no means a hands-off process—in fact, it requires a substantial amount of design and regulatory oversight. This collection brings together leading experts from academia, government, and big business to discuss the lessons learned from experiences such as California's market meltdown as well as the ill-conceived policy choices that contributed to those failures. More importantly, the essays that comprise Electricity Deregulation offer a number of innovative prescriptions for the successful design of deregulated electricity markets. Written with economists and professionals associated with each of the network industries in mind, this comprehensive volume provides a timely and astute deliberation on the many risks and rewards of electricity deregulation.
Author | : Steven Morrison |
Publisher | : Brookings Institution Press |
Total Pages | : 188 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 9780815721208 |
Since the enactment of the Airline Deregulation Act in 1978, questions that had been at the heart of the ongoing debate about the industry for eighty years gained a new intensity: Is there enough competition among airlines to ensure that passengers do not pay excessive fares? Can an unregulated airline industry be profitable? Is air travel safe? While economic regulation provided a certain stability for both passengers and the industry, deregulation changed everything. A new fare structure emerged; travelers faced a variety of fares and travel restrictions; and the offerings changed frequently. In the last fifteen years, the airline industry's earnings have fluctuated wildly. New carriers entered the industry, but several declared bankruptcy, and Eastern, Pan Am, and Midway were liquidated. As financial pressures mounted, fears have arisen that air safety is being compromised by carriers who cut costs by skimping on maintenance and hiring inexperienced pilots. Deregulation itself became an issue with many critics calling for a return to some form of regulation. In this book, Steven A. Morrison and Clifford Winston assert that all too often public discussion of the issues of airline competition, profitability, and safety take place without a firm understanding of the facts. The policy recommendations that emerge frequently ignore the long-run evolution of the industry and its capacity to solve its own problems. This book provides a comprehensive profile of the industry as it has evolved, both before and since deregulation. The authors identify the problems the industry faces, assess their severity and their underlying causes, and indicate whether government policy can play an effective role in improving performance. They also develop a basis for understanding the industry's evolution and how the industry will eventually adapt to the unregulated economic environment. Morrison and Winston maintain that although the airline industry has not rea
Author | : Oz Shy |
Publisher | : Cambridge University Press |
Total Pages | : 264 |
Release | : 2001-01-08 |
Genre | : Business & Economics |
ISBN | : 1139432273 |
This book introduces upper-level undergraduates, graduate students, and researchers to the latest developments in network economics, one of the fastest-growing fields in all industrial organization. Network industries include the Internet, e-mail, telephony, computer hardware and software, music and video players, and service operations in the banking, legal, and airlines industries among many others. The work offers an overview of the subject matter as well as investigations about specific industries. It conveys the essential features of how strategic interactions between firms are affected by network activity, as well as covering social interaction and its influence on consumers' choices of products and services. Virtually no calculus is used in the text, and each chapter ends with a series of exercises and selected references. The text may be used for both one- and two-semester courses.
Author | : Marica Frangakis |
Publisher | : Palgrave MacMillan |
Total Pages | : 296 |
Release | : 2009-11-05 |
Genre | : Business & Economics |
ISBN | : |
This book presents a comprehensive overview and critical analysis of the processes of liberalization and privatization, and their consequences for economic performance, social cohesion and political democracy in the European Union. It examines the main drivers and the various theoretical rationales for privatisation in the context of different schools of thinking. It argues on the basis of broad empirical evidence that privatisation in Europe, particularly the ongoing privatization of social services, undermines the basic elements of the different social models that have developed in Europe. These arguments are supported by a number of in-depth case studies, with specific focus on health care, education and finance. The authors of this volume advance from this critique and explore the basic requirements for a progressive public sector and its role for economic, social and democratic development. This book will be indispensable reading for all interested in Economic Policy, Public Sector Economics, European Integration and Political Science.
Author | : Nancy L. Rose |
Publisher | : University of Chicago Press |
Total Pages | : 619 |
Release | : 2014-08-29 |
Genre | : Business & Economics |
ISBN | : 022613816X |
The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Author | : Lars Bergman |
Publisher | : Centre for Economic Policy Research |
Total Pages | : 286 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : 9781898128373 |
This report is the first in a new series, Monitoring European Deregulation (MED), launched by CEPR and SNS Förlag in 1997. The MED Reports feature new, policy-oriented research on the liberalization of the European markets of the major 'network industries:' telecommunications, energy, air transportation, rail, and water. Addressed to a wide audience of both academics and European decisionmakers in the private-sector and policy communities, at both the national and EU level, the series will play an important role in informing the policy debate and influencing current thinking on these issues.
Author | : Matthias Finger |
Publisher | : Edward Elgar Publishing |
Total Pages | : 537 |
Release | : 2011 |
Genre | : Business & Economics |
ISBN | : 0857930478 |
'To learn about how economic and institutional forces have shaped the network industries and policies towards them, read the first part of the book. To discover their impacts on particular industries, read the second part. And to find out what has happened in particular countries, read the third part. I think anyone interested in network industries should read all of it! The book's structure allows for many interesting comparisons across countries and sectors.' Richard Green, University of Birmingham, UK 'This is a very useful and comprehensive guide to reforms in network industries in communications, energy, transport and water. It is organized by generic topic, sector and region. Its authors are acknowledged experts. I am confident that this Handbook will be a widely read and valuable resource for many years.' Martin Cave, London School of Economics, UK 'Quite an accomplishment, this Handbook provides by far the most comprehensive overview of the role of the private sector and competition in infrastructure industries, with thoughtful surveys of each of the major infrastructure sectors and of the key regions and countries.' José Gómez-Ibáñez, Harvard University, US In recent decades, all infrastructures have undergone significant restructuring. This worldwide phenomenon is often labelled 'liberalization' and although expectations were high with respect to lower prices, greater efficiency and innovation, the expected gains have not always been fully realized. This extensive, state-of-the-art Handbook provides a comprehensive overview of the various experiences of liberalization across different sectors, regions and disciplines. The multidisciplinary approach focuses on the economic, political and institutional aspects of liberalization as well as, to a lesser extent, on technological issues. As such, it constitutes a unique contribution, as this broad overview is often lost in the sector specific, country-focused and purely disciplinary approaches prevalent in the current literature. Sectors explored include telecoms, the Internet, energy and transport, whilst the truly global perspective incorporates unique case studies from an array of developed and developing countries including the US, China, India and the EU. The International Handbook of Network Industries will become the definitive volume for academics researchers and students of economics, political science and law interested in infrastructure regulation. It will also prove a valuable guide to practitioners and policy-makers involved in liberalization and competition.