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This report is the first in a new series, Monitoring European Deregulation (MED), launched by CEPR and SNS Förlag in 1997. The MED Reports feature new, policy-oriented research on the liberalization of the European markets of the major 'network industries:' telecommunications, energy, air transportation, rail, and water. Addressed to a wide audience of both academics and European decisionmakers in the private-sector and policy communities, at both the national and EU level, the series will play an important role in informing the policy debate and influencing current thinking on these issues.
This report encourages governments to “think big” about the relevance of regulatory policy and assesses the recent efforts of OECD countries to develop and deepen regulatory policy and governance.
The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Public utilities constitute a large section of Europe' economy, and they have historically been at the centre of national states and their industrial strategies. However, the recent creation of the single market and the liberalisation of European utility sectors have resulted in an expansion of EU/EC economic regulation. This book examines the interaction among the economic and political actors and raises questions regarding the format regulation. The chapters discuss the history of utilities reform, assess the nature of the changes, and address the issues of institutional modification. Four themes emerge from the collection -- the characteristics of Europe-wide reform, the nature of national variance, cross-sectional variations, and the institutional arrangements that can emerge to accommodate the regulatory regime.
Featuring a comprehensive analytical collection of interdisciplinary research on regulatory authorities, this innovative Handbook combines contributions from leading scholars and regulatory practitioners to present the fundamental theoretical concepts, empirical achievements and challenges in the contemporary study of regulatory authorities.
The rapid proliferation of EU agencies represents one of the most significant changes to the EU’s organisational set-up in past decades. At the same time, this development has significantly affected regulatory policy-making in the EU. This volume assembles the most renowned scholars in the field to address the key themes and challenges that agency governance in the EU poses to effective and legitimate policy-making. The first theme addresses the causes and dynamics of the creation and design of regulatory bodies in EU governance, focusing not only on EU agencies but also on alternatives to the agency format, such as regulatory networks. Second, once agencies are established, the book goes on to explore the consequences and trajectories of agency governance. How effective and autonomous are EU agencies? How does EU agency governance transform existing patterns of executive governance in the EU? Third, the book addresses the design of EU agencies as independent, non-majoritarian institutions poses pressing questions with a view to their legitimacy and accountability. The volume appeals to scholars and practitioners interested in the development and transformation of executive governance in the EU. This book was published as a special issue of the Journal of European Public Policy.
The executive branch of government in Europe is being gradually transformed in several significant respects. First, executive power has been continuously strengthened at the EU level in the form of the European Commission, EU-level agencies and diplomatic and military staff in the Union Council secretariat. Second, EU executive bodies relate directly to (regulatory) authorities at the national level in charge of applying (and partly preparing) EU laws and programmes, partly circumventing ministerial departments. Thus, parts of national administrations become parts of an integrated and multi-level Union administration as well as parts of national executives. Such a system with multiple political masters raises delicate questions about political steering and accountability. This book focuses on this fascinating development both from a political science and a legal perspective, encompassing the consolidation of the supranational executive as well as its relationships with its ‘partners’ at the national level. This book was published as a special issue of West European Politics.
These changes, together with the general advance in the study of regulation, undoubtedly demand a re-evaluation of the theory of regulation, its methodologies and scope of application. This book is a perceptive investigation of recent evolutions in the manner and extent of governance through regulation. Scholars and students of comparative politics, public policy, regulation theory, institutional economics and political sociology will find it to be essential reading. It will also prove a valuable source of reference for those working or dealing with regulatory authorities and for business managers in private industries and services operating under a regulatory framework.
'To learn about how economic and institutional forces have shaped the network industries and policies towards them, read the first part of the book. To discover their impacts on particular industries, read the second part. And to find out what has happened in particular countries, read the third part. I think anyone interested in network industries should read all of it! The book's structure allows for many interesting comparisons across countries and sectors.' Richard Green, University of Birmingham, UK 'This is a very useful and comprehensive guide to reforms in network industries in communications, energy, transport and water. It is organized by generic topic, sector and region. Its authors are acknowledged experts. I am confident that this Handbook will be a widely read and valuable resource for many years.' Martin Cave, London School of Economics, UK 'Quite an accomplishment, this Handbook provides by far the most comprehensive overview of the role of the private sector and competition in infrastructure industries, with thoughtful surveys of each of the major infrastructure sectors and of the key regions and countries.' José Gómez-Ibáñez, Harvard University, US In recent decades, all infrastructures have undergone significant restructuring. This worldwide phenomenon is often labelled 'liberalization' and although expectations were high with respect to lower prices, greater efficiency and innovation, the expected gains have not always been fully realized. This extensive, state-of-the-art Handbook provides a comprehensive overview of the various experiences of liberalization across different sectors, regions and disciplines. The multidisciplinary approach focuses on the economic, political and institutional aspects of liberalization as well as, to a lesser extent, on technological issues. As such, it constitutes a unique contribution, as this broad overview is often lost in the sector specific, country-focused and purely disciplinary approaches prevalent in the current literature. Sectors explored include telecoms, the Internet, energy and transport, whilst the truly global perspective incorporates unique case studies from an array of developed and developing countries including the US, China, India and the EU. The International Handbook of Network Industries will become the definitive volume for academics researchers and students of economics, political science and law interested in infrastructure regulation. It will also prove a valuable guide to practitioners and policy-makers involved in liberalization and competition.
To strengthen the credibility of the EU and its policies, the European Community is increasingly concerned to emphasise effective enforcement of EC law. This book engages in the debate on the better application of European law by offering an integrated analysis of a new institutional arrangement - one that relies on networks grouping the Commission and national administrative authorities. Taking the traditional enforcement paradigms of decentralisation, centralisation and agency-based enforcement as starting points, their benefits and downsides are described and critiqued, and the author concludes that there is considerable room for improvement. The book then undertakes a comprehensive analysis of the network model to determine its core characteristics and assess its effectiveness. European competition law and electronic communications law are used as case studies because, inter alia, the networks there have developed an adequate level of sophistication. The book also employs a bottom-up approach, considering how four key Member States (France, Germany, the Netherlands and the United Kingdom) have given effect to the relevant European rules. At the core of the book is a critique of the wider normative attractiveness of the network model. The discussion is kaleidoscopic, engaging with a wide variety of notions including legitimacy, judicial review, subsidiarity, institutional balance and efficiency. The thrust of the book is that network-based governance deserves careful consideration as the model that is able to mediate the competing concerns of coherence for Internal Market reasons, and of diversity and respect for local autonomy. This book is useful for EC competition law and communications law practitioners, and those with a keen interest in institutional and administrative law.