Investment, security of supply and sustainability in the aftermath of three decades of power sector reform
AbstractThe last three decades have witnessed many electricity industry reform processes in more than half of the countries in the world. The reforms have aimed, inter alia, at encouraging private investments in electricity infrastructure, enhancing security of electricity supply and making power industry operate in line with the requirements of the sustainable development. Using an original panel dataset from 55 developed and developing countries covering the period from 1975 to 2010, this study aims at finding out to what extent these objectives have been materialized so far. Econometric models are used to identify the effects of electricity market liberalization on these variables. The research findings suggest that the progress toward the electricity market reform is associated with a decline in private investments in the electricity industries of developing countries, higher levels of self-sufficiency in electricity supply and lower CO2 emissions from electricity generation.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 52679.
Date of creation: Mar 2014
Date of revision:
Publication status: Published in Renewable and Sustainable Energy Reviews 21.3(2014): pp. 1-8
Econometric modeling; institutions and the macroeconomy; electric utilities; market design;
Other versions of this item:
- Erdogdu, Erkan, 2014. "Investment, security of supply and sustainability in the aftermath of three decades of power sector reform," Renewable and Sustainable Energy Reviews, Elsevier, Elsevier, vol. 31(C), pages 1-8.
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- D47 - Microeconomics - - Market Structure and Pricing - - - Market Design
- E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
- F0 - International Economics - - General
- L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-01-10 (All new papers)
- NEP-ENE-2014-01-10 (Energy Economics)
- NEP-REG-2014-01-10 (Regulation)
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.:
- Jamasb, Tooraj, 2006. "Between the state and market: Electricity sector reform in developing countries," Utilities Policy, Elsevier, Elsevier, vol. 14(1), pages 14-30, March.
- Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, American Economic Association, vol. 72(1), pages 1-15, March.
- Nagayama, Hiroaki, 2009. "Electric power sector reform liberalization models and electric power prices in developing countries: An empirical analysis using international panel data," Energy Economics, Elsevier, Elsevier, vol. 31(3), pages 463-472, May.
- Carlo Cambini & Laura Rondi, 2010. "Incentive regulation and investment: evidence from European energy utilities," Journal of Regulatory Economics, Springer, Springer, vol. 38(1), pages 1-26, August.
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