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Regulatory Reform: Economic Analysis and British Experience (Regulation of Economic Activity) (Paperback)

by Mark Armstrong (Author), Simon Cowan (Author), John Vickers (Author) "How to regulate firms with market power is one of the central questions for industrial policy ..." (more)

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Product details

Paperback: 406 pages
Publisher: The MIT Press (2 Dec 1994)
Language English
ISBN-10: 0262510790
ISBN-13: 978-0262510790
Product Dimensions: 22.4 x 15.2 x 2.2 cm

Average Customer Review: 4.0 out of 5 stars See all reviews (1 customer review)

Amazon.co.uk Sales Rank: 604,085 in Books (See Bestsellers in Books)

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Product Description

Regulatory reform had its beginnings in the United States in the 1970s, and today it is taking place around the globe. One of the central questions for industrial policy is how to regulate firms with market power. This text tackles this important policy issue in two parts: it describes an analytical framework for studying the main issues in regulatory reform, and then applies the analysis to the British experience in four utility industries - telecommunications, gas, electricity, and water supply. Britain's utility industries, state-owned monopolies just ten years ago, offer a dramatic example of comprehensive reforms with parallels elsewhere: industries have been restructured, markets have been liberalized, and new regulatory methods and institutions have been created. The authors focus on common policy questions that arise in each industry while taking into account the considerable diversity between the industries and the different reform policies adopted. The analysis and experience in Britain's utility industries also provides a rich variety of issues concerning monopolistic and anticompetitive practices that are of interest for competition policy in general.

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4.0 out of 5 stars Good but in need of update, 11 Jan 2006

By A Customer

Albeit dated now in some respects, this work is still extensively quoted and still well worth a read for businesses, policymakers and others.

Now that Vickers is moving on from the OFT, perhaps he and the other authors would consider an update.

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