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Hong Kong's Business Regulation in Transition

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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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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6332.

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Date of creation: Dec 1997
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Publication status: published as Hong Kong’s Business Regulation in Transition , Changqi Wu, Leonard K. Cheng. in Deregulation and Interdependence in the Asia-Pacific Region, NBER-EASE Volume 8 , Ito and Krueger. 2000
Handle: RePEc:nbr:nberwo:6332

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  1. Paul L. Joskow, 1987. "Productivity Growth and Technical Change in the Generation of Electricity," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 17-38.
  2. Bernard, J.T. & Bolduc, D. & Belanger, D., 1993. "Quebec Residential Electricity Demand: A Microeconometric Approach," Papers 9334, Laval - Recherche en Energie.
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  4. Green, Richard & Newbery, David M G, 1991. "Competition in the British Electricity Spot Market," CEPR Discussion Papers 557, C.E.P.R. Discussion Papers.
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  8. 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.
  9. Mulligan, James G, 1983. "The Economies of Massed Reserves," American Economic Review, American Economic Association, vol. 73(4), pages 725-34, September.
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Cited by:
  1. Ho, Chun-Yu & Siu, Kam Wing, 2007. "A dynamic equilibrium of electricity consumption and GDP in Hong Kong: An empirical investigation," Energy Policy, Elsevier, vol. 35(4), pages 2507-2513, April.

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