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Price and Profit Regulation in Developing and Transition Economies, Methods Used and Problems Faced: A Survey of the Regulators

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Author Info
Kirkpatrick, Colin
Parker, David
Zhang, Yin-Fang

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Abstract

Rate of return or cost of service regulation was the traditional means by which governments, especially in the USA, regulated profitability and prices in privately-owned public utility businesses. However, rate of return regulation was associated with efficiency disincentives. Hence, in 1983 Professor Stephen Littlechild recommended the use of a price cap to regulate British Telecom when it was privatised. Price caps were later introduced for other privatised utilities in the UK, namely gas, airports, water, electricity and the railways. Similarly, other countries that privatised their utility sectors in the 1980s and 1990s often introduced price cap regimes. This paper reports the results of a questionnaire survey of the methods used to regulate profits and prices in privatised utility sectors in a sample of developing and transition economies. In addition to providing an insight into the different methods used in these economies, the questionnaire focuses on the difficulties that their regulators perceive in operating profit and price regulation regimes.

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Paper provided by University of Manchester, Institute for Development Policy and Management (IDPM) in its series Centre on Regulation and Competition (CRC) Working papers with number 30596.

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Date of creation: 2004
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Handle: RePEc:ags:idpmcr:30596

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Related research
Keywords: developing economies; transition economies; regulation; rate of return; price cap.; Demand and Price Analysis;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  4. Alexander, Ian & Estache, Antonio & Oliveri, Adele, 2000. "A few things transport regulators should know about risk and the cost of capital," Utilities Policy, Elsevier, vol. 9(1), pages 1-13, March. [Downloadable!] (restricted)
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  5. Iossa, Elisabetta & Stroffolini, Francesca, 2002. "Price cap regulation and information acquisition," International Journal of Industrial Organization, Elsevier, vol. 20(7), pages 1013-1036, September. [Downloadable!] (restricted)
  6. Estache, Antonio & Guasch, Jose-Luis & Trujillo, Lourdes, 2003. "Price caps, efficiency payoffs, and infrastructure contract renegotiation in Latin America," Policy Research Working Paper Series 3129, The World Bank. [Downloadable!]
  7. Richard Schmalensee, 1989. "Good Regulatory Regimes," RAND Journal of Economics, The RAND Corporation, vol. 20(3), pages 417-436, Autumn. [Downloadable!] (restricted)
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  9. D. Parker, 2002. "Economic Regulation: a review of issues," Annals of Public and Cooperative Economics, Blackwell Publishing, vol. 73(4), pages 493-519, December. [Downloadable!] (restricted)
  10. Levy, Brian & Spiller, Pablo T, 1994. "The Institutional Foundations of Regulatory Commitment: A Comparative Analysis of Telecommunications Regulation," Journal of Law, Economics and Organization, Oxford University Press, vol. 10(2), pages 201-46, October.
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  12. Kridel, Donald J & Sappington, David E M & Weisman, Dennis L, 1996. "The Effects of Incentive Regulation in the Telecommunications Industry: A Survey," Journal of Regulatory Economics, Springer, vol. 9(3), pages 269-306, May.
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  15. Bernstein, Jeffrey I & Sappington, David E M, 1999. "Setting the X Factor in Price-Cap Regulation Plans," Journal of Regulatory Economics, Springer, vol. 16(1), pages 5-25, July. [Downloadable!] (restricted)
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  16. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring. [Downloadable!] (restricted)
  17. Aryeetey, Ernest, 2002. "The Institutional and Policy Framework for Regulation and Competition in Ghana," Centre on Regulation and Competition (CRC) Working papers 30641, University of Manchester, Institute for Development Policy and Management (IDPM). [Downloadable!]
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  1. Kirkpatrick, Colin & Parker, David, 2004. "Regulation and the Privatisation of Water Services in Developing Countries: Assessing the Impact of the General Agreement on Trade in Services (GATS)," Centre on Regulation and Competition (CRC) Working papers 30600, University of Manchester, Institute for Development Policy and Management (IDPM). [Downloadable!]
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