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Towards Competition in Network Industries by Paul J.J. Welfens,George Yarrow,Ruslan Grinberg,Cornelius Graack Pdf
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.
Author : Michael U. Klein Publisher : World Bank Publications Page : 40 pages File Size : 55,5 Mb Release : 1996 Category : Communication and traffic ISBN : 8210379456XXX
Competition in Network Industries by Michael Klein,Philip Gray Pdf
If privatizing network industries is to bring lasting public benefits, governments should also attempt to introduce competition. The scope for such competition is growing with increasing deregulation and technological innovation. As technology continues to improve, the use of "smart markets"--computer-assisted auction systems to clear competitive but complex markets--is likely to become feasible for an ever-expanding group of products and countries. This Note outlines the opportunities for introducing network competition--competition for the market, competition over existing networks, and competition among networks. It briefly considers in each case whether it will become easier or more complicated. It looks at how these opportunities could be applied in different networks. And it concludes with some basic guidelines for introducing competition: 1) the more complex the network and the lower the sunk cost, the more value there is likely to be in introducing competition from other networks. 2) Where technical change is rapid, defining the bonds of natural monopoly will be more difficult and the dynamic benefits of competition will be large. 3) Where government capacity to be benevolently and efficiently recognize natural monopoly and establish barriers to entry is weak, entry probably should not be limited by policy.
Competition in Network Industries by Michael Klein Pdf
April 1996 Debate about whether and how to introduce competition in network industries -- including transport, power, and telecommunications -- is sometimes heated. Klein contends that in case of doubt, policymakers should not restrict the entry of competitive firms in such networks. If they do, he says that entry restrictions should be subject to an automatic test after a set period, and reviewed for costs and benefits. A wave of privatization is sweeping the globe, affecting about 100 countries and adding up to an average of more than $60 billion a year in business in the past decade. The challenge is to ensure that privatization yields clear benefits. Empirical studies suggest that ownership change by itself will often yield results, especially when it reduces government interference. But the regulation required in areas of natural monopoly can become overly intrusive and undermine progress. Real competition is required to generate sizable and lasting welfare improvements. But in infrastructure sectors, the introduction of competition is complicated by the existence of complex transport and communications networks. Debate about whether and how to introduce competition in network industries is sometimes heated. Certain questions recur: Will continuing regulation be needed? Whether and at what terms will private finance be forthcoming? Klein argues that policymakers need to understand how competitive forces can be brought to bear in network industries. He explains: * Common principles that are often lost in technical debates about specific sectors. * Various methods for introducing competition in network industries (sketching broad regulatory requirements along the way). * Competition for the market, and bidding for franchises. * Options for competition for existing networks, including open access arrangements, pooling of homogeneous services such as electricity and natural gas, and timetabling (the competitive determination of service delivery for nonhomogeneous services that need to be sent to specific endpoints). * Options for expanding competitive systems by decentralizing investment in new network capacity. * The option of allowing competition among multiple networks. * The implications of these options for the sectors and for financing industry expansion. In case of doubt, he contends, policymakers should not restrict the entry of competitive firms in such networks. If they do, entry restrictions should be subject to an automatic test after a set period, and reviewed for costs and benefits. This paper is a product of the Private Sector Development Department.
Competition and Regulation in Network Industries by Jean-Marc Zogheib Pdf
While particularly dynamic and innovative, the digital and telecommunication industries are found to have a great tendency towards concentration, resulting in strong market power and raising concerns from competition and regulatory authorities. In this study focusing on such network industries, Jean-Marc Zogheib explores the interplay between public policy and firms' strategies by combining various tools of theoretical economic analysis adopted from industrial economics, network economics, and platform economics. Mr. Zogheib's thesis consists of three distinct essays: the first chapter examines how merger policy affects firms' entry strategies, the second chapter shifts the focus to public intervention by considering how the coexistence of private and public players affects competition and investment, while the third chapter investigates the role of privacy in competition between digital platforms and the importance of consumer data in the competitive analysis of mergers. This book clearly illustrates how economics can contribute essential building blocks to the construction of competitive reasoning and how the integration of competition law into economic models extended their collective utility. An important read for lawyers and economists alike. The book was awarded the inaugural Concurrences PhD Award in Economics.
Emerging Issues in Competition, Collusion, and Regulation of Network Industries by Antonio Estache Pdf
This book presents a comprehensive review of the vast economic literature covering the governance issues of network industries and suggests paths to improve their efficiences.
Competition Policy in Network Industries by Frank Fichert,Justus Haucap,Kai Rommel Pdf
The promotion of competition in Europe's network industries has been in the foreground of economic policy in recent years. Network industries have undergone dramatic changes, involving privatisation, liberalisation and de- as well as re-regulation. But there are still many unresolved problems in both economic policy as well as economic research. Hence, a vivid exchange between academics and policy makers has emerged to find the optimal framework for these industries. This volume contributes to this discussion, containing several papers on various network industries.
Economies of Network Industries by Hans Werner Gottinger Pdf
An examination of different types of network industries such as railways, telecommunications and new media, and the economics thereof. An accent on history makes this book stand apart from others in this area.
Opening Networks to Competition by David Gabel,David F. Weiman Pdf
David Gabel and David F. Weiman The chapters in this volwne address the related problems of regulating and pricing access in network industries. Interconnection between network suppliers raises the important policy questions of how to sustain competition and realize economic efficiency. To foster rivalry in any industry, suppliers must have access to customers. But unlike in other sectors, the very organization of network industries creates major impediments to potential entrants trying to carve out a niche in the market. In traditional sectors such as gas, electric, rail, and telephone services, these barriers take the form of the large private and social costs necessary to duplicate the physical infrastructure of pipelines, wires, or tracks. Few firms can afford to finance such an undertaking, because the level of sunk costs and the very large scale economies make it extremely risky. In other newer sectors, entrants face less tangible but no less pressing constraints. In the microcomputer industry, for example, high switching costs can prevent users from experimenting with alternative, but perhaps more efficient hardware platforms or operating systems. Although gateway technologies can reduce these barriers, the installed base of an incumbent can create powerful bandwagon effects that reinforce its advantage (such as the greater availability of compatible peripherals and software applications). In the era of electronic banking, entrants into the automated teller machine· (A TM) and credit card markets face a similar problem of establishing a ubiquitous presence.
The unique challenges associated with understanding network industries requires insights from a range of disciplinary perspectives, namely economics, engineering, law, and political science. This book analyzes the de- and re-regulation of the network industries and the regulatory challenges these industries will face in the future. Network industries are characterised by economics that entail limiting effects on competition and market creation, and the book highlights the drivers behind their liberalization as well as the inherent need for regulation as liberalization unfolds. By way of an historical approach, the author offers insights into the distinctive approaches between Europe and North America in the past whilst also presenting the pervasive role digitalization increasingly comes to play. A concise overview of the state of thinking about the network industries, this book will be vital reading for researchers, advanced students and practitioners.
Remedies in Network Industries by Damien Geradin Pdf
Over the last decade, the European Union has undertaken major market-opening reforms in the area of network industries. The liberalization process has now been completed in the air transport and electronic communications sectors and has achieved considerable progress in other network industries, such as postal services, energy (electricity and gas), and rail transport. Creating competition in network industries is not an easy matter, however. Because they benefit from certain advantages such as a large initial market share and control of essential facilities, incumbents typically retain substantial market power in a number of relevant markets and may even use their position to prevent others from engineering such markets. Controlling market power is thus one of a number of key concerns in network industries. It can be achieved in two main ways; either through the adoption and implementation of sector-specific rules or through the application of competition rules. There are advantages and disadvantages to both options, but it is a combination of the two that generally prevents incumbents from abusing their market power in liberalized markets. Competition law and sector-specific regulation provide for the application of remedies on incumbents or other operators holding significant market power. Such remedies are either structural or a behavioural. In some occasions they will apply ex ante, while in others ex post. This book comprises a collection of outstanding essays dealing with the complex legal and economic issues raised by remedies in network industries. While some of these essays analyse remedies from a generic point of view, others focus on specific remedies applied specifically in particular sectors. The sectors covered in this volume include electronic communications, postal services, energy (electricity and gas), and air transport. The final paper also presents a discussion of the United States approach to remedies in network industries. The essays comprised in this book have been written by leading academics (lawyers and economists), as well as private practitioners.
International Handbook of Network Industries by Matthias Finger,R. W. K_nneke Pdf
'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.
Competition in Telecommunications by Jean-Jacques Laffont,Jean Tirole Pdf
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.
