IDEAS home Printed from https://ideas.repec.org/a/sos/sosjrn/240201.html
   My bibliography  Save this article

Regulation of Natural Monopoly: The Turkish Electricity Market

Author

Listed:
  • Özgün AKDURAN-EROL

Abstract

This study examines the situations that arise when regulating a natural monopoly market by focusing on Türkiye’s electricity market. Specifically, this qualitative study investigates the Energy Market Regulatory Authority (EMRA) in terms of capture theory, drawing on various documentary sources, such as electricity sector regulation legislation (constitutions, sector laws, decree-laws, Plan and Budgeting Committee documents of The Grand National Assembly of Türkiye), EMRA official decisions, newspaper reports from 2001 to 2021, and media interviews. The empirical findings discussed throughout the article reveal numerous instances consistent with the capture theory.

Suggested Citation

  • Özgün AKDURAN-EROL, 2024. "Regulation of Natural Monopoly: The Turkish Electricity Market," Sosyoekonomi Journal, Sosyoekonomi Society, issue 32(60).
    • Handle: RePEc:sos:sosjrn:240201
    as

    Download full text from publisher

    File URL: https://dergipark.org.tr/tr/download/article-file/2536271
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    2. Jean-Jacques Laffont & Jean Tirole, 1991. "The Politics of Government Decision-Making: A Theory of Regulatory Capture," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 1089-1127.
    3. Kumar, Shashwat, 2022. "Taking root: Independent Regulatory Agency model of regulation in Indian electricity sector," Energy Policy, Elsevier, vol. 164(C).
    4. Tamer Četin & Feridun Yilmaz, 2010. "Transition to the Regulatory State in Turkey: Lessons from Energy," Journal of Economic Issues, Taylor & Francis Journals, vol. 44(2), pages 393-402.
    5. Gary S. Becker, 1983. "A Theory of Competition Among Pressure Groups for Political Influence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(3), pages 371-400.
    6. Hopenhayn, Hugo & Lohmann, Susanne, 1996. "Fire-Alarm Signals and the Political Oversight of Regulatory Agencies," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 12(1), pages 196-213, April.
    7. Carpenter, Daniel P., 2004. "Protection without Capture: Product Approval by a Politically Responsive, Learning Regulator," American Political Science Review, Cambridge University Press, vol. 98(4), pages 613-631, November.
    8. Carpenter, Daniel P., 1996. "Adaptive Signal Processing, Hierarchy, and Budgetary Control in Federal Regulation," American Political Science Review, Cambridge University Press, vol. 90(2), pages 283-302, June.
    9. Dubash, Navroz K., 2003. "Revisiting electricity reform: The case for a sustainable development approach," Utilities Policy, Elsevier, vol. 11(3), pages 143-154, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Çetin, Tamer & Yasin Eryigit, Kadir, 2013. "The economic effects of government regulation: Evidence from the New York taxicab market," Transport Policy, Elsevier, vol. 25(C), pages 169-177.
    2. Koski, Heli, 2002. "The Impacts of Regulatory Reform on the Global Telecommunications Sector," Discussion Papers 649, The Research Institute of the Finnish Economy.
    3. Hellman, Joel S. & Jones, Geraint & Kaufmann, Daniel, 2003. "Seize the state, seize the day: state capture and influence in transition economies," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 751-773, December.
    4. Moszoro, Marian W. & Spiller, Pablo T., 2014. "Third-Party Opportunism and the Theory of Public Contracts: Operationalization and Applications," MPRA Paper 101592, University Library of Munich, Germany.
    5. Ms. Deniz O Igan & Thomas Lambert, 2019. "Bank Lobbying: Regulatory Capture and Beyond," IMF Working Papers 2019/171, International Monetary Fund.
    6. Lenka Gregorová & Milan Žák, 2008. "Byrokratická bariéra kvality regulace [Bureaucratic constraint of the quality of regulation]," Politická ekonomie, Prague University of Economics and Business, vol. 2008(2), pages 196-228.
    7. Estache, Antonio & Wren-Lewis, Liam, 2010. "What Anti-Corruption Policy Can Learn from Theories of Sector Regulation," CEPR Discussion Papers 8082, C.E.P.R. Discussion Papers.
    8. Antonio Estache & Liam Wren-Lewis, 2011. "Anti-Corruption Policy in Theories of Sector Regulation," Chapters, in: Susan Rose-Ackerman & Tina Søreide (ed.), International Handbook on the Economics of Corruption, Volume Two, chapter 9, Edward Elgar Publishing.
    9. Duso, Tomaso & Seldeslachts, Jo, 2010. "The political economy of mobile telecommunications liberalization: Evidence from the OECD countries," Journal of Comparative Economics, Elsevier, vol. 38(2), pages 199-216, June.
    10. Maurice Baslé, 1997. "Le changement institutionnel peut-il être analysé comme évolutionnaire ? quelques limites de l'approche économique standard et quelques voies ouvertes à l'approche évolutionnaire," Post-Print hal-02081216, HAL.
    11. Persson, Torsten & Tabellini, Guido, 2002. "Political economics and public finance," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 24, pages 1549-1659, Elsevier.
    12. Grant H. Lewis, 2017. "Effects of federal socioeconomic contracting preferences," Small Business Economics, Springer, vol. 49(4), pages 763-783, December.
    13. Deniz Igan & Prachi Mishra & Thierry Tressel, 2012. "A Fistful of Dollars: Lobbying and the Financial Crisis," NBER Macroeconomics Annual, University of Chicago Press, vol. 26(1), pages 195-230.
    14. Koichi Hamada & Asahi Noguchi, 2005. "The Role of Preconceived Ideas in Macroeconomic Policy: Japan's Experiences in the Two Deflationary Periods," Working Papers 908, Economic Growth Center, Yale University.
    15. Georges Dionne, 2003. "The Foundationsof Banks' Risk Regulation: A Review of Literature," THEMA Working Papers 2003-46, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    16. Ando, Amy, 1998. "Delay on the Path to the Endangered Species List: Do Costs and Benefits Matter," RFF Working Paper Series dp-97-43-rev, Resources for the Future.
    17. Maciej Czaplewski, 2015. "Oddziaływanie regulacyjne Unii Europejskiej na rynek usług telekomunikacyjnych," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5, pages 65-87.
    18. repec:hal:spmain:info:hdl:2441/8527 is not listed on IDEAS
    19. Efraim Benmelech & Tobias J. Moskowitz, 2010. "The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century," Journal of Finance, American Finance Association, vol. 65(3), pages 1029-1073, June.
    20. Michael Breen & Robert Gillanders, 2012. "Corruption, institutions and regulation," Economics of Governance, Springer, vol. 13(3), pages 263-285, September.
    21. Michelle C. Pautz, 2009. "Perceptions of the Regulated Community in Environmental Policy: The View from Below," Review of Policy Research, Policy Studies Organization, vol. 26(5), pages 533-550, September.

    More about this item

    Keywords

    Natural Monopoly Markets; Regulatory Authority; Capture; Electricity Market.;
    All these keywords.

    JEL classification:

    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sos:sosjrn:240201. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Aysen Sivrikaya (email available below). General contact details of provider: http://www.sosyoekonomijournal.org/home.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.