 Common Elements in the Governance of Deregulated Electricity Markets, Telecommunications Market and Payment SystemsNeil Quigley and Lewis Evans No 19037, Working Paper Series from Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation Abstract: We use the telecommunications industry and electricity market in New Zealand and payments systems in Canada and New Zealand to examine the implications of modern network technology for the organisation and governance of deregulated markets. Our analysis identifies natural monopoly components of networks as the key issue for the governance of these markets. We show how technological change has enhanced the scope for competition and reduced the desirability of public management and regulation in network industries. We argue that where natural monopoly or other problems persist private joint ventures are superior to public sector monopoly as a means of organising the activity. Light-handed regulation in which markets are constrained only by economy-wide competition law provides for the development of efficient private solutions to the special governance problems of network industries. Keywords: governance; telecommunications; payment systems (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcsr:19037 Access Statistics for this paper More papers in Working Paper Series from Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation ISCR, PO Box 600, Victoria University Wellington 6140, New Zealand. Contact information at EDIRC. |
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