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The Impact of Regulation on Technical Change

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  • Gerald Granderson

Abstract

This paper examines the impact of regulation on a firm’s choice of innovations and on the rate of technical change. Using a 1977–1987 panel of 20 U.S. interstate natural gas pipeline companies, I find that regulation led firms to adopt a technology that augmented (i) noncapital more than capital and (ii) noncapital more than the technology the standard (unregulated) firm would have adopted. I also find that, while technical regress occurred over the sample period, regulation led to a small decline in the rate of technical change and a small increase in production cost on average.

Suggested Citation

  • Gerald Granderson, 1999. "The Impact of Regulation on Technical Change," Southern Economic Journal, Southern Economic Association, vol. 65(4), pages 807-822, April.
  • Handle: RePEc:sej:ancoec:v:65:4:y:1999:p:807-822
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    Cited by:

    1. Mark Frank, 2003. "An Empirical Analysis of Electricity Regulation on Technical Change in Texas," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 22(4), pages 313-331, June.
    2. Gregory Price, 2008. "NEA Presidential Address: Black Economists of the World You Cite!!," The Review of Black Political Economy, Springer;National Economic Association, vol. 35(1), pages 1-12, March.
    3. Jamasb, Tooraj & Pollitt, Michael, 2008. "Liberalisation and R&D in network industries: The case of the electricity industry," Research Policy, Elsevier, vol. 37(6-7), pages 995-1008, July.

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