The Regulation of Transborder Network Services
Integration and reinforcement of network infrastructure for transport, energy and water is akey component in the European policy framework for market competitiveness. However, inspite of considerable analysis and community co-funding since 1995, actual implementationprogress for the 90 priority projects in the Transeuropean Energy Networks programme hasbeen meager. The estimated network investment need of 40,000 M euro (2003-2013) ischallenging the current heterogenous institutional mix of European network operators,regulators and the role of the commission. This paper presents an analytic framework for thenetwork investment problem under decentralized control in both regulation, infrastructureownership and management. Our results on the underinvestment problem from regulatorycompetition and non-coordination provide insights into the policy relevant topic of commoninfrastructure investment under varying budget balancing constraints and managementobjectives. From an economic policy viewpoint, the paper is tangential to the more generaldiscussion on regulatory centralization vs. subsidiarity in the European Union.
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