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Hong Kong’s Business Regulation in Transition

In: Deregulation and Interdependence in the Asia-Pacific Region, NBER-EASE Volume 8

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  • Changqi Wu
  • Leonard K. Cheng

Abstract

The transition of Hong Kong's main economic activities from manufacturing to services is accompanied by gradual changes in the regulatory regimes for monopolies. The local telecommunication services industry has been liberalized, deregulation of public transport is taking shape, and the schemes of control for electricity suppliers are candidates for reform. In this paper, we review the evolution of business regulation in Hong Kong, analyze the salient features of its scheme of control regulation and evaluate the impact of transition from regulation to competition. To provide a sharp contrast between the difficulties of the traditional approach to regulation and the benefits of introducing competition, we focus on the cases of electricity and telecommunications. The direction for future changes is also discussed.

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This chapter was published in:

  • Takatoshi Ito & Anne O. Krueger, 2000. "Deregulation and Interdependence in the Asia-Pacific Region, NBER-EASE Volume 8," NBER Books, National Bureau of Economic Research, Inc, number ito_00-1, January.
    This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 8480.

    Handle: RePEc:nbr:nberch:8480

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    1. Green, Richard & Newbery, David M G, 1991. "Competition in the British Electricity Spot Market," CEPR Discussion Papers 557, C.E.P.R. Discussion Papers.
    2. William Vickrey, 1971. "Responsive Pricing of Public Utility Services," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 337-346, Spring.
    3. Fama, Eugene F & French, Kenneth R, 1992. " The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, American Finance Association, vol. 47(2), pages 427-65, June.
    4. Mark Armstrong & Simon Cowan & John Vickers, 1994. "Regulatory Reform: Economic Analysis and British Experience," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262510790, December.
    5. Paul L. Joskow, 1987. "Productivity Growth and Technical Change in the Generation of Electricity," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Number 1), pages 17-38.
    6. Ansar, Jasmin, 1990. "Multifactor Productivity Growth: Empirical Results for a Major United States Utility," Journal of Regulatory Economics, Springer, Springer, vol. 2(3), pages 251-62, September.
    7. Bernard, J.T. & Bolduc, D. & Belanger, D., 1993. "Quebec Residential Electricity Demand: A Microeconometric Approach," Papers, Laval - Recherche en Energie 9334, Laval - Recherche en Energie.
    8. James M. Griffin, 1974. "The Effects of Higher Prices on Electricity Consumption," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 515-539, Autumn.
    9. Mulligan, James G, 1983. "The Economies of Massed Reserves," American Economic Review, American Economic Association, vol. 73(4), pages 725-34, September.
    10. Kaserman, David L & Mayo, John W, 1991. "The Measurement of Vertical Economies and the Efficient Structure of the Electric Utility Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 39(5), pages 483-502, September.
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    Cited by:
    1. Chun-Yu Ho & Kam Wing Siu, 2006. "A Dynamic Equilibrium of Electricity Consumption and GDP in Hong Kong: An Empirical Investigation," Boston University - Department of Economics - Working Papers Series, Boston University - Department of Economics WP2006-049, Boston University - Department of Economics.

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