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Understanding Regulatory Environments and their Impact on Economic Change

Author

Listed:
  • Harvey James

    (University of Missouri)

  • Derek Johnson

    (University of Connecticut)

Abstract

We propose a framework for evaluating the effectiveness of regulatory activity based on the distinctions among boundary, conduct, and attribute regulation. The standard we use to evaluate the efficiency and effectiveness of regulations creating boundaries, regulating conduct, and defining attributes is whether the regulations are market-enhancing or market-debilitating. We argue that this framework provides a consistent means by which economists and policy observers can evaluate the impact and effectiveness of a wide variety of regulatory initiatives, including antitrust actions, as well as economic and social regulations. To illustrate the utility of our framework, we evaluate recent deregulatory efforts in the telecommunications industry.

Suggested Citation

  • Harvey James & Derek Johnson, 2002. "Understanding Regulatory Environments and their Impact on Economic Change," Industrial Organization 0202001, EconWPA.
  • Handle: RePEc:wpa:wuwpio:0202001
    Note: Type of Document - Microsoft Word; prepared on IBM PC; to print on HP; pages: 24; figures: 2. 1 Figure and 1 table, included in file
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    References listed on IDEAS

    as
    1. Robert G. Harris & C. Jeffrey Kraft, 1997. "Meddling Through: Regulating Local Telephone Competition in the United States," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 93-112, Fall.
    2. F. Gasmi & J. J. Laffont & W. W. Sharkey, 1999. "Empirical Evaluation of Regulatory Regimes in Local Telecommunications Markets," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 8(1), pages 61-93, March.
    3. Mueller, Dennis C., 1996. "Lessons from the United States's antitrust history," International Journal of Industrial Organization, Elsevier, vol. 14(4), pages 415-445, June.
    4. Hazlett, Thomas W, 1990. "The Rationality of U.S. Regulation of the Broadcast Spectrum," Journal of Law and Economics, University of Chicago Press, vol. 33(1), pages 133-175, April.
    5. Richard Schmalensee, 1989. "Good Regulatory Regimes," RAND Journal of Economics, The RAND Corporation, vol. 20(3), pages 417-436, Autumn.
    6. Aiginger, Karl & Mueller, Dennis C. & Weiss, Christoph, 1998. "Objectives, topics and methods in industrial organization during the nineties: Results from a survey," International Journal of Industrial Organization, Elsevier, vol. 16(6), pages 799-830, November.
    7. Randall S. Kroszner & Philip E. Strahan, 1998. "What Drives Deregulation? Economics and Politics of the Relaxation of Bank Branching Restrictions," NBER Working Papers 6637, National Bureau of Economic Research, Inc.
    8. Gasmi, F & Ivaldi, M & Laffont, Jean Jacques, 1994. "Rent Extraction and Incentives for Efficiency in Recent Regulatory Proposals," Journal of Regulatory Economics, Springer, vol. 6(2), pages 151-176, May.
    9. Lawrence J. White, 1999. "Wanted: A Market Definition Paradigm for Monopolization Cases," Working Papers 99-01, New York University, Leonard N. Stern School of Business, Department of Economics.
    10. Joskow, Paul L, 1975. "Firm Decision-making Processes and Oligopoly Theory," American Economic Review, American Economic Association, vol. 65(2), pages 270-279, May.
    11. Larry Sawers, 1992. "The Navigation Acts revisited," Economic History Review, Economic History Society, vol. 45(2), pages 262-284, May.
    12. William Comanor & F. M. Scherer, 1995. "Rewriting History: the Early Sherman Act Monopolization Cases," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 2(2), pages 263-290.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Regulation; antitrust; economic analysis; institutions; telecommunications;

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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