Regulatory Benchmarking with Panel Data

Necmiddin Bagdadioglu () and Thomas Weyman-Jones ()
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Necmiddin Bagdadioglu: Dept of Public Finance, Haceteppe University, Turkey
Thomas Weyman-Jones: Department of Economics, Loughborough University, UK

Discussion Paper Series from Department of Economics, Loughborough University

Abstract: This paper considers panel data procedures for regulatory benchmarking that allow for both latent heterogeneity and inefficiency, encapsulating the regulatory dilemma in comparative efficiency analysis for incentive regulation. It applies a distance function model with appropriate concavity properties for econometric estimation to a panel of electricity distribution utilities in Turkey, since electricity industry reform is a major policy issue there. The results confirm the importance of allowing simultaneously for heterogeneity and inefficiency and emphasise the need for specific time-invariant heterogeneity information, such as geographical data, on regulated utilities in different regions.

Keywords: efficiency and productivity analysis; regulation; electricity distribution. (search for similar items in EconPapers)
JEL-codes: C23 D24 L51 (search for similar items in EconPapers)
Date: 2007-01, Revised 2007-01
New Economics Papers: this item is included in nep-cwa, nep-eff, nep-ene and nep-reg
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Citations: View citations in EconPapers (2)

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