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Regulatory Benchmarking with Panel Data

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Author Info
Necmiddin Bagdadioglu () (Dept of Public Finance, Haceteppe University, Turkey)
Thomas Weyman-Jones () (Department of Economics, Loughborough University, UK)
Abstract

This paper considers panel data procedures for regulatory benchmarking that allow for both latent heterogeneity and inefficiency, encapsulating the regulatory dilemma in comparative efficiency analysis for incentive regulation. It applies a distance function model with appropriate concavity properties for econometric estimation to a panel of electricity distribution utilities in Turkey, since electricity industry reform is a major policy issue there. The results confirm the importance of allowing simultaneously for heterogeneity and inefficiency and emphasise the need for specific time-invariant heterogeneity information, such as geographical data, on regulated utilities in different regions.

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File URL: http://www.lboro.ac.uk/departments/ec/RePEc/lbo/lbowps/WJBA_wp2007_03.pdf
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Publisher Info
Paper provided by Department of Economics, Loughborough University in its series Discussion Paper Series with number 2007_03.

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Date of creation: Jan 2007
Date of revision: Jan 2007
Handle: RePEc:lbo:lbowps:2007_03

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Related research
Keywords: efficiency and productivity analysis; regulation; electricity distribution.;

Find related papers by JEL classification:
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data

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This page was last updated on 2009-11-26.

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