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Political Endowments and Electricity Market Regulation in Turkey: An Institutional Analysis

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  • S. Mustafa Durakoglu
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    Abstract

    Turkey has been going through a liberalization process in its electricity market over the last decade. So far, the regulatory content of the market reforms has been in the center of attention in the literature, to the negligence of regulatory governance. However, recent studies, which applied the theoretical insights of new institutional economics to utilities regulation, have demonstrated that political endowments of the country draw the boundaries to which extent such regulatory content can be effectively implemented. In line with these studies, this paper adopts an institutional approach and attempts to identify the political endowments of Turkey in order to further analyze whether the market reforms succeeded in bringing about sufficient checks to cure the institutional problems. In other words, the paper takes a picture of the overall regulatory arena. The results show that the current regulatory structure, especially government-regulator relations, fails to meet good regulatory governance criteria. The paper also provides some policy suggestions.

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    File URL: http://cadmus.eui.eu/bitstream/handle/1814/15795/RSCAS_2011_08.pdf?sequence=1
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    Bibliographic Info

    Paper provided by European University Institute in its series RSCAS Working Papers with number 2011/08.

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    Date of creation: 25 Feb 2011
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    Handle: RePEc:rsc:rsceui:2011/08

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    Keywords: electricity regulation; regulatory governance; institutions;

    This paper has been announced in the following NEP Reports:

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    1. Fuat O─čuz, 2010. "Competition by regulation in energy markets: the case of Turkey," European Journal of Law and Economics, Springer, vol. 30(1), pages 41-58, August.
    2. Stern, Jon & Cubbin, John, 2005. "Regulatory effectiveness : the impact of regulation and regulatory governance arrangements on electricity industry outcomes," Policy Research Working Paper Series 3536, The World Bank.
    3. Pablo T. Spiller, 2003. "The Institutional Foundations of Public Policy: A Transactions Approach with Application to Argentina," Journal of Law, Economics and Organization, Oxford University Press, vol. 19(2), pages 281-306, October.
    4. John Cubbin & Jon Stern, 2006. "The Impact of Regulatory Governance and Privatization on Electricity Industry Generation Capacity in Developing Economies," World Bank Economic Review, World Bank Group, vol. 20(1), pages 115-141.
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