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Liberalisation in a world of second best: evidence on European network industries

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Author Info
Ugur, Mehmet

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Abstract

This article reports mixed results about the impacts of liberalisation in European network industries. Telecommunications prices have fallen and converged across EU-15, but electricity and gas prices have either increased or diverged. Productivity has increased, but mainly as a result of falling employment in absolute and relative terms. Liberalised industries are still characterised by high levels of market concentration and low levels of transparency and market integration. These findings are in line with the predictions of the theory of second best and suggest that the case for liberalisation of network industries has been oversold.

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File URL: http://mpra.ub.uni-muenchen.de/17873/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17873.

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Date of creation: 27 Feb 2009
Date of revision: 13 Oct 2009
Handle: RePEc:pra:mprapa:17873

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Related research
Keywords: Liberalisation; network industries; second-best; public policy; European Union;

Find related papers by JEL classification:
D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
D4 - Microeconomics - - Market Structure and Pricing

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References listed on IDEAS
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  1. Stefan Buehler, 2005. "The Promise and Pitfalls of Restructuring Network Industries," German Economic Review, Blackwell Publishing, vol. 6(2), pages 205-228, 05. [Downloadable!] (restricted)
  2. Reiner Martin & Moreno Roma & Isabel Vansteenkiste, 2005. "Regulatory reforms in selected EU network industries," Occasional Paper Series 28, European Central Bank. [Downloadable!]
  3. Charles Blackorby, 1990. "Economic Policy in a Second-Best Environment," Canadian Journal of Economics, Canadian Economics Association, vol. 23(4), pages 748-71, November. [Downloadable!] (restricted)
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  4. Jarrell, Gregg A, 1978. "The Demand for State Regulation of the Electric Utility Industry," Journal of Law & Economics, University of Chicago Press, vol. 21(2), pages 269-95, October.
  5. Stephen Thomas, 2004. "Evaluating the British Model of Electricity Deregulation," Annals of Public and Cooperative Economics, Blackwell Publishing, vol. 75(3), pages 367-398, 09. [Downloadable!] (restricted)
  6. Richard Lipsey, 2007. "Reflections on the general theory of second best at its golden jubilee," International Tax and Public Finance, Springer, vol. 14(4), pages 349-364, August. [Downloadable!] (restricted)
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