Liberalisation in a world of second best: evidence on European network industries
Ugur, Mehmet (2009) Liberalisation in a world of second best: evidence on European network industries. Munich Personal RePEc Archive. (Unpublished) (doi:MPRA Paper ID Code: 17873)
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This article reports mixed results about the impacts of liberalisation in European network industries. Telecommunications prices have fallen and converged across EU-15, but electricity and gas prices have either increased or diverged. Productivity has increased, but mainly as a result of falling employment in absolute and relative terms. Liberalised industries are still characterised by high levels of market concentration and low levels of transparency and market integration. These findings are in line with the predictions of the theory of second best and suggest that the case for liberalisation of network industries has been oversold.
|Additional Information:|| This paper is held on the RePEc (Research Papers in Economics) Project database and is publicly-available via the Munich Personal RePEc Archive (http://mpra.ub.uni-muenchen.de/).  The Munich Personal RePEc Archive (MPRA) is an initiative by economists of the RePEc network from different countries and runs under the responsibility of the Munich University Library (part of the University of Munich).|
|Uncontrolled Keywords:||liberalisation, network industries, second-best, public policy, European Union, price convergence, market power, price transparency|
|Subjects:||H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
|Faculty / Department / Research Groups:||Faculty of Business > Department of International Business & Economics
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|Last Modified:||14 Oct 2016 09:10|
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