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This book discusses local competition in the telecommunications sector.
This book identifies the major sources of competition to the cable television industry, such as telephone companies, direct broadcast satellite services, and traditional broadcasting stations.
Providing an authoritative perspective on the best current research regarding telecommunication policy, this book is based on the 22nd Annual Telecommunications Policy Research Conference. The papers focus on the critical policy issues created by increasing competition in the industry. The book contains a careful analysis of local competition and interconnection, international competition, universal service issues, the Internet and emerging new methods of communication, and the first amendment problems created by changing telecommunication technology. It brings together -- in a convenient form -- a wide range of important scholarship on telecommunication policy that otherwise would require extensive research into a variety of journals, government filings, and unpublished papers.
Competition in network industries faces particular problems which are analyzed from both a theoretical and policy perspective. Issues of vertical integration, deregulation and privatization are covered. While competition and privatization are rapidly unfolding in telecommunications in Western and Eastern Europe, energy and railway transportation represent sectors of more gradual liberalization. The different market characteristics of telecommunications, energy and transportation raise consistency problems in the fields of deregulation, investment strategies and internationalization. While transformation policies create opportunities for liberalization in Eastern Europe and Russia the latter shows critical problems in ending monopoly and state ownership. Network industries could be subject to competition and promise major investment opportunities plus consumer benefits.
The telecommunications industry has evolved into a very competitive industry since 1980. Aggressive competition is the norm in the long distance, equipment, operator services and many other segments of the industry. The remaining segment of the market without widespread meaningful competition is the "last-mile" wireline service to the customer premise. Incumbent local exchange carriers enjoy a monopoly to serve nearly all residences and most business customers, collecting over 99% of all local exchange service revenues. Using their monopoly status, incumbents have developed a cross-subsidy system which uses the rates paid by some customers to lower the rates paid by others to support a policy known as "universal service." This policy has resulted in telephone service reaching 94% of America's households. Carriers claim that this policy cost them $20 billion annually, potential entrants claim the true cost is as low as $4 billion and the rest is profit. In the Telecommunications Act of 1996, Congress ordered the end of the local exchange monopoly and opened the local markets to competition. Congress also specified the continuation of universal service, specified that telephone penetration should be increased and specified that the universal service concept will be applied to America's schools, libraries and rural health centers. Congress also specified that, unlike today, all carriers will contribute fairly and equitably fairly to the universal service fund and that all carriers providing local service, including new competitors, will be eligible to receive support from the fund. The cost to meet these requirements in a competitive environment totals $7.2 billion, or 5.1% of net carrier revenue. This thesis addresses the definition of universal service and the services that should be eligible for support, the new competitive environment, how to collect the universal service support fund, and how to best distribute the funds to customers targeted to receive support from the system: those in high-cost areas, low-income consumers, and schools and libraries for advanced communications services.
The authors analyze regulatory reform and the emergence of competitionin network industries using the state-of-the-art theoretical tools ofindustrial organization, political economy, and the economics ofincentives.
`Cyberspace' is the emerging invisible, intangible world of electronic information and processes stored at multiple interconnected sites. The digital revolution leads to `convergence' (of telecommunications, computer/Internet and broadcasting) and to dynamic multimedia value chains. Deregulation and competition are major driving forces in the new interactive electronic environment. This volume contains normative proposals for `cyber'-regulation, including self-regulation, grounded on developments in the EU, US and the Far East, in international organisations (WTO, OECD, WIPO, ITU), in business fora, in NGOs, in the `Internet community' and in academic research. The multi-actor (government, business, civil society) and multi-level analysis (subsidiarity) pertains e.g. to ex-ante and ex-post access-regulation, competition, network economics (external effects, essential facilities), public interest principles (human dignity, free speech, privacy, security), development and culture, consumer protection, cryptography, domain names and copyright. Lawyers, regulators, business executives, investment bankers, diplomats, and civil society representatives need shared essentials of plurilateral `governance' to safeguard both competition and public interest objectives, at a scale congruent to `cyberspace', in the transition to an `international law of cooperation'.
MacAvoy shows how antitrust and regulation have failed to make long-distance markets competitive, to the detriment of consumers seeking prices in line with the costs of providing long-distance services.
This volume brings together academic economists and lawyers to evaluate and compare the regulation of telecommunications markets in Germany and the United States. The unifying theme in all of the pa pers is that the goal of public policy in this area should be to make the broadest and most functional competition possible by means of an ap propriate regulatory framework. Because the European and American telecommunications markets are becoming more intertwined each day, the issues addressed in this volume will be topical to the business, government, and academic communities for some time. For the chairman of the Monopoly Commission, Wernhard Moschel, the opening of the German telecommunications market has been successful in principle. This is clearly recognizable in the case of the competition in long-distance transport. Based on the view that the regulatory authority should make itself obsolete, Professor Moschel advocates an incremental review and gradual reduction of regulation.