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Institutional reforms to integrate regulation and competition policy: Economic analysis, international perspectives, and the case of the CNMC in Spain

Listed author(s):
  • Trillas, Francesc
  • Xifré, Ramon

We review the related academic literature and the international evidence on the institutions of regulation and competition policy, to analyze the creation in 2013 of the new macro regulator in Spain, the CNMC. The institutional reform merged the competition policy authority with virtually all sector regulators with the exception of the financial regulator. The aim of the paper is to assess the extent to which the Spanish reform follows international best practices as well as how it fits within the analysis found in the academic literature. Although there is not a universally superior approach, neither in practice nor in theory, important shortcomings remain with the model that was finally adopted in Spain. Some institutional diversity would facilitate an optimal level of regulatory independence and governmental coordination for each sector, and ultimately achieving better results in terms of consumer welfare.

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File URL: http://www.sciencedirect.com/science/article/pii/S0957178716301084
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Article provided by Elsevier in its journal Utilities Policy.

Volume (Year): 40 (2016)
Issue (Month): C ()
Pages: 75-87

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Handle: RePEc:eee:juipol:v:40:y:2016:i:c:p:75-87
DOI: 10.1016/j.jup.2016.04.009
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/30478

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  1. Germà Bel & Xavier Fageda, 2013. "Market power, competition and post-privatization regulation: Evidence from changes in regulation of European airports," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 16(2), pages 123-141, June.
  2. Montolio, Daniel & Trillas, Francesc, 2013. "Regulatory federalism and industrial policy in broadband telecommunications," Information Economics and Policy, Elsevier, vol. 25(1), pages 18-31.
  3. Vives, Xavier (ed.), 2009. "Competition Policy in the EU: Fifty Years on from the Treaty of Rome," OUP Catalogue, Oxford University Press, number 9780199566358.
  4. Ernesto Dal Bo´, 2006. "Regulatory Capture: A Review," Oxford Review of Economic Policy, Oxford University Press, vol. 22(2), pages 203-225, Summer.
  5. Antonio Estache & Liam Wren-Lewis, 2009. "Toward a Theory of Regulation for Developing Countries: Following Jean-Jacques Laffont's Lead," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 729-770, September.
  6. Juan Luis Jiménez & Javier Campos, 2004. "Efectos de la descentralización de la política de defensa de la competencia," Documentos de trabajo conjunto ULL-ULPGC 2004-09, Facultad de Ciencias Económicas de la ULPGC.
  7. Farrell, Joseph & Weiser, Philip J., 2003. "Modularity, Vertical Integration, and Open Access Policies: Towards a Convergence of Antitrust and Regulation in the Internet Age," Department of Economics, Working Paper Series qt4dh7q2dd, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  8. Mark Armstrong & David E.M. Sappington, 2006. "Regulation, Competition and Liberalization," Journal of Economic Literature, American Economic Association, vol. 44(2), pages 325-366, June.
  9. Unknown & Elisa Mariscal, 2014. "Integrating Regulatory and Antitrust Powers: Does It Work? Case Studies from Spain and Mexico," CPI Journal, Competition Policy International, vol. 10.
  10. Judith Clifton & Francisco Comín & Daniel Díaz Fuentes, 2005. "‘Empowering Europe'S Citizens’?," Public Management Review, Taylor & Francis Journals, vol. 7(3), pages 417-443, September.
  11. Trillas, Francesc, 2010. "Independent regulators: Theory, evidence and reform proposals," IESE Research Papers D/860, IESE Business School.
  12. Trillas, Francesc, 2013. "The Institutional Architecture of Regulation and Competition: Spains's 2012 Reform," IESE Research Papers D/1067, IESE Business School.
  13. Antonio Estache & Liam Wren-Lewis, 2011. "Anti-Corruption Policy in Theories of Sector Regulation," Chapters,in: International Handbook on the Economics of Corruption, Volume Two, chapter 9 Edward Elgar Publishing.
  14. Laffont, Jean-Jacques, 2001. "Incentives and Political Economy," OUP Catalogue, Oxford University Press, number 9780199248681.
  15. Ajit Mishra, 2006. "Corruption, Hierarchies and Bureaucratic Structure," Chapters,in: International Handbook on the Economics of Corruption, chapter 7 Edward Elgar Publishing.
  16. Judith Clifton & Daniel Díaz-Fuentes & Marcos Fernández-Gutiérrez, 2014. "The impact of socio-economic background on satisfaction: evidence for policy-makers," Journal of Regulatory Economics, Springer, vol. 46(2), pages 183-206, October.
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