The empirical evaluation of regulatory policy reforms in network industries: some methodological issues

Massimo Florio

Chapter 1 in The Reform of Network Industries, 2017, pp 3-27 from Edward Elgar Publishing

Abstract: Some regulatory reforms cannot be simply described by the change of a microeconomic signal, or macroeconomic instrument, leading to a specific marginal effect on social welfare. Rather, they should be represented by packages shifting a policy framework. The aim of this chapter is to discuss the theoretical foundations of the evaluation of policy framework reforms in network industries. Some potential interpretational pitfalls are identified and some guidance on carrying out econometric analyses is provided. Since the use of categorical variables has become widespread in the empirical evaluation of such reforms, methodological issues and conceptual errors that might be introduced when building numerical proxies of reforms are discussed. Some of these issues are key for the correct assessment of reforms and hence for formulating coherent policy recommendations.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2017
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