A regulatory regime for innovation in the communications industries
The telecommunications service industry seems to increasingly assume the characteristics of a key-industry, that is to say, an Industry which provides the rest of the economic system with important pecuniary and technological externalities that affect the overall levels of output and productivity. This should lead to a third step in the evolution of regulatory regimes, with a shift from regimes ranging from the cost regulated natural vertical monopolies controlled by Rate-of-Return rules which were typical of the 1950s and 1960s through to the Price-Capped rival oligopolies of the 1980s to a mix of structural and price regulation designed to implement a new vertically disintegrated network of networks aimed at increasing the dynamic efficiency of both suppliers and users.
Volume (Year): 21 (1997)
Issue (Month): 1 (February)
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