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Market power, competition and post-privatization regulation: Evidence from changes in regulation of European airports

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  • Germà Bel
  • Xavier Fageda

Abstract

This paper conducts an empirical analysis of the relationship between privatization, competition, and regulation drawing on data from a wide sample of European airports. Privatization policies may involve a shift in the way governments are able to intervene in markets, while airports – unlike network infrastructures – are subject to mixed degrees of competition and monopoly characteristics. In this regard, our main hypothesis is that the impact of privatization on regulatory reform will be dependent on the competition scenario that prevails in each airport. We provide empirical evidence that the stringency of regulatory reform is related to the level of existing competition. Large airports, with substantial market power, tend to be subject to highly prescriptive regulation and airports that have nearby competing airports tend to be subject to less prescriptive regulation.

Suggested Citation

  • Germà Bel & Xavier Fageda, 2013. "Market power, competition and post-privatization regulation: Evidence from changes in regulation of European airports," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 16(2), pages 123-141.
    • Handle: RePEc:taf:jecprf:v:16:y:2013:i:2:p:123-141
    DOI: 10.1080/17487870.2013.781338
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    Cited by:

    1. Trillas, Francesc & Xifré, Ramon, 2016. "Institutional reforms to integrate regulation and competition policy: Economic analysis, international perspectives, and the case of the CNMC in Spain," Utilities Policy, Elsevier, vol. 40(C), pages 75-87.
    2. Pagliari, Romano & Graham, Anne, 2020. "Airport competition within the Scottish lowlands region," Research in Transportation Economics, Elsevier, vol. 79(C).
    3. Fernández-Méndez, Laura & García-Canal, Esteban & Guillén, Mauro F., 2015. "Legal Family and Infrastructure Voids as Drivers of Regulated Physical Infrastructure Firms' Exposure to Governmental Discretion," Journal of International Management, Elsevier, vol. 21(2), pages 135-149.
    4. Ofelia Betancor & María Paz Espinosa, 2015. "Privatización, competencia y regulación aeroportuaria:experiencia internacional," Working Papers 2015-03, FEDEA.

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