Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/117720 
Autor:innen: 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Hannover Economic Papers (HEP) No. 545
Verlag: 
Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät, Hannover
Zusammenfassung: 
Independent regulatory authorities are a basic prerequisite for a successful liberalization process. However, contrary to what is expected, both graphical analyses and OLS regressions for a small sample of electricity and gas regulators operating in 16 European countries reveal a negative relationship between the authorities' formal autonomy from politicians and the scope of market reforms. These findings might suffer from endogeneity, though, so we draw on political scientists' explanations for diverging independence levels to construct appropriate instruments. The 2SLS-IV results then confirm conventional wisdom: the higher the degree of regulatory autonomy, the higher the level of liberalization.
Schlagwörter: 
Independent Regulatory Authorities
Energy Market Liberalization
Formal Independence
JEL: 
L50
L94
L95
L98
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
395.28 kB





Publikationen in EconStor sind urheberrechtlich geschützt.