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TRAN5271M
Module Reading List

Economics of Regulation, 2017/18, Semester 2
Jeremy Toner
J.P.Toner@its.leeds.ac.uk
Tutor information is taken from the Module Catalogue

General Reading List

Key texts

Armstrong, M., Cowan, S. and Vickers, J., Regulatory reform : economic analysis and British experience ISBN: 0262510790; 0262011433. MIT Press, 1994

Baldwin, R and Cave, M Understanding regulation, OUP, 1999

(there is a newer second edition, by Baldwin, Cave and Lodge (2012))

Bishop, M., Kay, J. and Mayer, C., Privatization and economic performance ISBN: 0198773447 (pbk); 0198773439. Oxford University Press, 1994

Bishop, M., Kay, J. and Mayer, C., The regulatory challenge ISBN: 0198773420 (pbk); 0198773412. Oxford University Press, 1995

Crew, M and Parker, D, International handbook on economic regulation ISBN: 184376671X; 9781843766711, Edward Elgar, 2006

Vickers, J., and Yarrow, G., Privatization : an economic analysis ISBN: 0262720116; 0262220334. MIT Press, 1988

Viscusi W., Vernon, J., and Harrington, J., Economics of Regulation and Antitrust, MIT Press, 2000

Waterson, M., Regulation of the firm and natural monopoly ISBN: 0631172343 (pbk); 0631140077. Blackwell, 1988

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Useful websites

http://www.thredbo-conference-series.org/papers/

this conference series is all about competition and ownership in transport

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UK Regulatory Bodies

Civil Aviation Authority: www.caa.co.uk.

Office of Communications: www.ofcom.org.uk.

Office of Gas and Electricity Markets: www.ofgem.gov.uk.

Office of Rail Regulation: http://orr.gov.uk/.

Office of Water Services: www.ofwat.gov.uk.

Postal Services Commission: https://www.gov.uk/government/organisations/postal-services-commission

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Other UK bodies

Competition Commission: www.competition-commission.org.uk.

HM Treasury: http://www.hm-treasury.gov.uk/ppp_index.htm and http://www.hm-treasury.gov.uk/d/80.pdf

(HM Treasury public private partnerships).

National Audit Office (UK): http://www.nao.org.uk/practice_areas/private_finance/recommendations.htm

(National Audit Office website which has material on PFI, PPP and privatisation).

Office of Fair Trading (UK): https://www.gov.uk/government/organisations/office-of-fair-trading.

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International bodies

European Union (EU): http://ec.europa.eu/competition/index_en.html (The European Union has its own Directorate concerned with competition, mergers, state aid rules and market liberalisation).

US Federal Trade Commission: http://www.ftc.gov/bcp

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UK Academic sites on regulation and privatisation

University of Bath, Centre for the Study of Regulated Industries on website www.bath.ac.uk/cri

University of Cambridge, Department of Applied Economics also has discussion papers some of which cover topics on regulation and privatisation (e.g. articles by Newbery, Pollitt, Littlechild): http://www.econ.cam.ac.uk/

University of East Anglia (UEA), School of Management, Centre for Competition Policy on website: http://www.uea.ac.uk/ccp/about (includes publications and work on competition and regulation).

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READING LIST ON NATURAL MONOPOLY AND THE THEORY AND PRACTICE OF REGULATION

Averch, H., and Johnson, I.L., "Behaviour of the Firm Under Regulatory Constraints". American economic review. ISSN: 0002-8282, December, 1962

Baldwin, R, Scott, C and Hood, C A reader on regulation ISBN: 0198765304, OUP, 1998

Bell, P., and Cloke, P., Deregulation and transport : market forces in the modern world ISBN: 1853461237. David Fulton, 1990

Berg, S.V., and Tschirhart, J., Natural monopoly regulation : principles and practice ISBN: 052133893X (pbk ; cased) : £10.95; 0521330394, Cambridge University Press, 1988

Button, K., and Pitfield, D. (Eds), Transport deregulation : an international movement ISBN: 0333521838. Macmillan, 1991

Carbajo, J. (ed), Regulatory reform in transport : some recent experiences ISBN: 0821323318, World Bank, 1993

Clarke, T and Pitelis, C The political economy of privatization ISBN: 041512705X; 0415086302, Routledge, 1993

Demsetz, H., "Why Regulate Utilities?", The journal of law and economics. ISSN: 0022-2186, 11, pp55-65, 1968 reprinted in Rowley, C.K., (ed) Readings in industrial economics ISBN: 0333109511; 0333109570 (pbk.), vol 2, pp173-186, Macmillan, London

Eckert, R., "On the Incentives of Regulators ...". Public choice. ISSN: 0048-5829, 1973

Economic journal. ISSN: 0013-0133, Vol.103, July 1993

Foster, C.D., Privatization, public ownership, and the regulation of natural monopoly ISBN: 0631184864, Blackwell, 1992

Gomez-Ibanez, J and Meyer, J Going private : the international experience with transport privatization ISBN: 0815731787, Brookings Institution, 1993

Helm, D., "RPI Minus X and the Newly Privatised Industries", Public money. ISSN: 0954-0962, Vol.7,  1987

Kahn, A.E., The economics of regulation : principles and institutions ISBN: 0471454303. (2 vols) Wiley, New York, 1971

Kay, J., Mayer, C. and Thompson, D., Privatisation and regulation : the UK experience ISBN: 019877253X (pbk ; cased) : £6.95; 0198772548. Oxford University Press, 1986

Newbery, D., Privatization, restructuring, and regulation of network utilities ISBN: 0262140683, MIT Press, 1999

Niskanen, W.A., "Bureaucrats and Politicians". The journal of law and economics. ISSN: 0022-2186, December, 1975

Oxford review of economic policy. ISSN: 0266-903X, Vol.4 No.2, "Regulation and Utilities", 1988

Peltzman, S., "Towards a More General Theory of Regulation". The journal of law and economics. ISSN: 0022-2186, August, 1976

Peltzman, S., "The Economic Theory of Regulation after a Decade of deregulation", Brookings papers on economic activity. Microeconomics. ISSN: 1057-8641, 1989

Posner, R.A., "The Social Costs of Monopoly and Regulation". Journal of political economy. ISSN: 0022-3808, 1975

Posner, R.A., "Theories of Economic Regulation". The Bell Journal of Economics. ISSN: 0361-915x, Autumn, 1974

Schmalensee, R., and Willig, R. (Eds) Handbook of industrial organization ISBN: 0444704353 (v. 2), Vol.II, esp  chapters 22-25, Elsevier - North Holland, 1989

Sherman, R., The regulation of monopoly ISBN: 0521363112; 0521368626 (pbk.), Cambridge University Press, 1989

Sugden, R. (Ed) Industrial economic regulation : a framework and exploration ISBN: 041506774X (pbk); 0415067731, Routledge, 1993

Swann, D., The retreat of the state : deregulation and privitisation in the UK and US ISBN: 0745005039 (pbk ; cased) : £10.95; 0745001521, Harvester Wheatsheaf, 1988

Utton, M., The economics of regulating industry ISBN: 0631144242, Blackwell, 1986

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READING LIST ON MARKET AND NON-MARKET FAILURE

Arrow, K.J., "The Organisation of Economic Activity: Issues Pertinent to the Choice of Market versus Non-Market Allocation". Publication by Joint Economic Committee of US Congress, 1969.  Also in Haveman, R., and Margolis, J. (eds) Public expenditures and policy analysis ISBN: 0841020132, Markham, 1970

Bator, F.M., "The Anatomy of Market Failure". The quarterly journal of economics. ISSN: 0033-5533, Vol.72, 1958

Buchanan, J.M., "Politics, Policy and the Pigovian Margins". Economica, Vol.29, February 1962, pp.17-28 - Available online: https://www.jstor.org/stable/2601517?seq=1#page_scan_tab_contents

Cullis, J., and Jones, P., Microeconomics and the public economy : a defence of Leviathan ISBN: 063115552X, Blackwell, 1987

Demsetz, H., "Contracting Cost and Public Policy". In Externalities : theoretical dimensions of political economy ISBN: 084240063X. Edited by Staaf, R., and Tannian, F., Dunnellan, 1974

Gwilliam, K.M., "Aims and Effects of Subsidy of Public Passenger Transport". Report of the 67th Round Table in Transport Economics, ECMT, Paris, 1984 - Available online: http://www.oecd-ilibrary.org/transport/aims-and-effects-of-public-financial-support-for-passenger-transport_9789282104569-en

Harberger, A.C., "Monopoly and Resource Allocation". American economic review. ISSN: 0002-8282, 1954

Hotelling, H., "Stability in Competition", Economic journal. ISSN: 0013-0133, 1929

LeGrand, J., "The Theory of Government Failure". Studies in Decentralisation and Quasi-Markets 5, University of Bristol, School for Advanced Urban Studies, 1991 - Available online: https://www.cambridge.org/core/journals/british-journal-of-political-science/article/the-theory-of-government-failure/B76BE1A0EBACBF4D86C412311475932C

Leibenstein, H., "Allocative Efficiency vs X-Efficiency". American economic review. ISSN: 0002-8282, 1966

Wellisz, S., "On External Diseconomies and the Government Assisted Invisible Hand". Economica, Vol.31, November 1964 - Available online: https://www.jstor.org/stable/2550514?seq=1#page_scan_tab_contents

Wolf, C., "A Theory of Non-Market Failure". The journal of law and economics. ISSN: 0022-2186, 1979

Wolf, C., Markets or governments : choosing between imperfect alternatives ISBN: 0262231727; 0262731045 (pbk), MIT Press, 1993

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READING LIST ON COMPETITION POLICY, CONTESTABILITY AND FRANCHISING

Baumol, W., "Contestable Markets: An Uprising in the Theory of Industrial Structure". American economic review. ISSN: 0002-8282, 1982

Baumol, W., Panzar, J., and Willig, R., Contestable Markets and the Theory of Industry Structure. HBJ, 1982

Beesley, M., and Littlechild, S., "Privatisation: Principle, Problems and Priorities". In Kay, J., Mayer, C., and Thompson, D. (eds) Privatisation and regulation : the UK experience ISBN: 019877253X (pbk ; cased) : £6.95; 0198772548, Clarendon Press, 1986

Demsetz, H., "Why Regulate Utilities?", Journal of Law and Economics, 11, pp55-65, 1968 reprinted in Rowley, C.K., (ed) Readings in industrial economics ISBN: 0333109511; 0333109570 (pbk.), vol 2, pp173-186, Macmillan, London

Dodgson, J, and Katsoulacos, Y, "Identifying Predatory Behaviour in the Bus and Airline Industries", paper at ESRC Seminar on Entry Barriers in Transport, 1992.

Domberger, S., "Economic Regulation through Franchise Contracts". In Kay et al., op.cit

Evenden, R and Williams, A “Contestability: the debate and industry policy”, Economic Analysis and Policy, 30(1), pp75-90, 2000 - Available online: https://www.sciencedirect.com/science/article/pii/S031359260050006X?via%3Dihub

Gillen, D., Oum, T., and Tretheway, M., "Entry Barriers and Anti-Competitive Behaviour: The Case of Canada". Rivista internazionale di economia dei trasporti = International journal of transport economics. ISSN: 0391-8440. ISSN: 0391-8440, 1988

Goldberg, V., "Regulation and administered contracts" The Bell Journal of Economics. ISSN: 0361-915x, pp426-448 1976?

Hartley, K., and Huby, M., "Contracting-out policy: theory and evidence". In Kay et al., op.cit

Helm, D and Jenkinson, T (eds) Competition in regulated industries ISBN: 019829252X (pbk ; cased) : £14.99; 0198292538, OUP, 1998

Majone, G. (Ed) Deregulation or re-regulation? : regulatory reform in Europe and the United States ISBN: 0861878345; 0312041837; 1855670887, St Martin's Press, 1990

Nyathi, M., "Single aviation markets and contestability theory : getting the policy bearings right". University of Sydney, Institute of Transport Studies. Working Paper ITS-WP-92-14, 1992

Office of Fair Trading, Cartels: Detection and Remedies. HMSO, 1991 or 1992

Oxford review of economic policy. ISSN: 0266-903X, Vol.1 No.3, "Recent Developments in Industrial  Economics and Policy", 1985

Panzar, J., and Willig, R., "Free Entry and the Sustainability of Natural Monopoly". The Bell Journal of Economics. ISSN: 0361-915x, 1977

Phillips, A. (ed), Promoting competition in regulated markets ISBN: 0815770529. Brookings Institution, 1975

Shepherd, W., "Competition, Contestability and Transport Mergers". IJTE, 1988 - Rivista internazionale di economia dei trasporti = International journal of transport economics. ISSN: 0391-8440.

Veljanovski, C. (ed), Regulators and the market : an assessment of the growth of regulation in the UK ISBN: 025536248X (pbk); 0255362498, IEA, 1991

Williamson, O., "Franchise Bidding for Natural Monopolies..", The Bell Journal of Economics. ISSN: 0361-915x, 1976

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SECTORAL READING LIST ON TRANSPORT AND NETWORK UTILITIES

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General

These cover the development of thinking on privatisation and deregulation from the 1980s onwards. Look in these for overviews of particular sectors. Not all books cover all sectors.

Armstrong, M., Cowan, S. and Vickers, J., Regulatory reform : economic analysis and British experience ISBN: 0262510790; 0262011433. MIT Press, 1994

Baldwin, R and Cave, M Understanding regulation, OUP, 1999

(there is a newer second edition, by Baldwin, Cave and Lodge (2012))

Bishop, M., Kay, J. and Mayer, C., Privatization and economic performance ISBN: 0198773447 (pbk); 0198773439. Oxford University Press, 1994

Bishop, M., Kay, J. and Mayer, C., The regulatory challenge ISBN: 0198773420 (pbk); 0198773412. Oxford University Press, 1995

Crew, M and Parker, D, International handbook on economic regulation ISBN: 184376671X; 9781843766711, Edward Elgar, 2006

Kay, J., Mayer, C. and Thompson, D., Privatisation and regulation : the UK experience ISBN: 019877253X (pbk ; cased) : £6.95; 0198772548. Oxford University Press, 1986

Kessides, I., Infrastructure regulation: promises, perils and principles, AEI-Brookings Joint Centre for Regulation Studies, 2003 - Available online: https://www.researchgate.net/publication/46454300_Infrastructure_Regulation_Promises_Perils_and_Principles

Saal, D and Parker, International handbook on privatization ISBN: 1845422813 (pbk); 1840646136, Edward Elgar, 2003

Vickers, J., and Yarrow, G., Privatization : an economic analysis ISBN: 0262720116; 0262220334. MIT Press, 1988

Viscusi W., Vernon, J., and Harrington, J., Economics of Regulation and Antitrust, MIT Press, 2000

Waterson, M., Regulation of the firm and natural monopoly ISBN: 0631172343 (pbk); 0631140077. Blackwell, 1988

Also see the OECD website www.oecd.org/competition/roundtables.htm The roundtables cover many sectors and always start with a background paper covering the principles before going on to look at different countries.

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TRANSPORT

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General

Carbajo, J. (ed), Regulatory reform in transport : some recent experiences ISBN: 0821323318, World Bank, 1993

Gomez-Ibanez, J and Meyer, J Going private : the international experience with transport privatization ISBN: 0815731787, Brookings Institution, 1993

De Palma, A et al. (eds) A handbook of transport economics ISBN: 9781783472857 (paperback); 9781847202031 (hbk.); 1847202039 (hbk.), Edward Elgar, 2011

Nash, CA (ed) Handbook of research methods and applications in transport economics and policy ISBN: 9781786439826 (pbk.) : £37.50, Edward Elgar, 2015

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Rail

Jones, IS, The Evolution of Policy towards On-Rail Competition, Journal of transport economics and policy. ISSN: 0022-5258 2000, pp371-382

Journal of transport economics and policy. ISSN: 0022-5258, special Issue on Railways, January 1999 (volume 33 part 1)

Kain, P , The reform of rail transport in Great Britain, Journal of transport economics and policy. ISSN: 0022-5258, May 1998

Nash, CA and Toner, JP “Competition in the Railway Industry”, OECD journal of competition law and policy. ISSN: 1560-7771 vol 1(1), pp 197-227, 1999

Preston J M The economics of British rail privatization: An assessment Transport reviews. ISSN: 0144-1647 16: (1) 1-21 1996

Smith, ASJ, Nash, CA and Wheat, PE, “Passenger Rail Franchising in Britain: has it been a success?”, Journal of transport economics and policy. ISSN: 0022-5258, 36(1), pp33-62, 2009

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Bus

Allsop, R., 2007, Victoria’s public transport: Assessing the results of privatisation, IPA Backgrounder, 19(1), Institute of Public Affairs - Available online: https://ipa.org.au/archive

Amaral, Miguel; Saussier, Stéphane; Yvrande-Billon, Anne 2013. “Expected Number of Bidders and Winning Bids: Evidence from the London Bus Tendering Model”  Journal of transport economics and policy. ISSN: 0022-5258 (JTEP), Volume 47, Number 1, pp. 17-34(18)

Beesley, M.E., and Glaister, S. "Deregulating the Bus Industry in Britain". Transport reviews. ISSN: 0144-1647, Vol.5, No.2, 1985.

Gómez‐Ibáñez, JA and Meyer, JR, 1997, “Alternatives for urban bus services: an international perspective on the British reforms”, Transport reviews. ISSN: 0144-1647

Gwilliam, K.M., Nash, C.A., and Mackie, P.J. "Deregulating the Bus Industry in Britain". Transport reviews. ISSN: 0144-1647, Vol.5, No.2, 1985.

Gwilliam, K.M., Nash, C.A., and Mackie, P.J. "Deregulating the Bus Industry in Britain -A Rejoinder". Transport reviews. ISSN: 0144-1647, Vol.5, No.3, 1985.

Mackie, P.J. and Preston, J.M. The local bus market : a case study of regulatory change ISBN: 1856282678, Avebury, 1996

White, PR & Tough, S "Alternative Tendering Systems and Deregulation in Britain" Journal of transport economics and policy. , 1995

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Air

Douglas, G.W., and Miller, J.C. III, Economic regulation of domestic air transport : theory and policy ISBN: 0815757247. Brookings Institutions, 1974

Forsyth, P., The gains from the liberalisation of air transport: a review of reform , Journal of transport economics and policy. , 1998

Meyer, J and Menzies, T The continuing vigil:maintaining competition in deregulated airline markets, Journal of transport economics and policy. , 2000

Morrison, S., and Winston, C., The economic effects of airline deregulation ISBN: 0815758456. Brookings Institution, 1986

Morrison, S., and Winston, C., The evolution of the airline industry ISBN: 0815758448 (alk. paper); 081575843X (pbk). Brookings Institution, 1995

Xiaowen Fu and , , Tae Hoon Oum , (2014), Air Transport Liberalization and its Effects on Airline Competition and Traffic Growth – An Overview, in James Peoples (ed.) The economics of international airline transport ISBN: 9781783506408 (e-book) (Advances in Airline Economics, Volume 4) Emerald Group Publishing Limited, pp.11 - 44

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Taxi

Beesley, M., and Glaister, S., "Information for Regulating ...". Economic journal. ISSN: 0013-0133, 1983

Douglas, G., "Price Regulation and Optimal Service Standards". Journal of transport economics and policy. ISSN: 0022-5258, 1972

Shreiber, C., "The Economic Reasons for Price and Entry Regulation of Taxicabs". Journal of transport economics and policy. ISSN: 0022-5258, 1975. See also comment by Coffman, R., JTEP 1977, and rejoinder and comment by Williams, D., JTEP 1980 and rejoinder JTEP 1981

Teal, R., and Berglund, M., "The Impacts of Taxicab Deregulation in the USA". Journal of transport economics and policy. ISSN: 0022-5258, 1987

Toner, J., "English Experience of Deregulation of the Taxi Industry", Transport reviews. ISSN: 0144-1647, 16(1), pp 79-94 1996

Toner, JP, “The welfare effects of taxicab regulation in English towns”, Economic Analysis and Policy, 40(3), pp299-312, 2010 - Available online: https://core.ac.uk/download/pdf/6370017.pdf

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NETWORK UTILITIES

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Water

Castalia, Defining Economic regulation for the Water Sector, 2005 , https://ppiaf.org/sites/ppiaf.org/files/documents/toolkits/Cross-Border-Infrastructure-Toolkit/Cross-Border%20Compilation%20ver%2029%20Jan%2007/Resources/Castalia%20-%20Defining%20Economic%20%20Regulation%20Water%20Sector.pdf

Ehrhardt, D., Groom, E., Halpern, J. and O’Connor, S. (2007) Economic Regulation of Urban Water and Sanitation Services: Some Practical Lessons World Bank, WATER SECTOR BOARD DISCUSSION PAPER SERIES PAPER NO.9 APRIL 2007 - Available online: http://documents.worldbank.org/curated/en/343661468331851143/Economic-regulation-of-urban-water-and-sanitation-services-some-practical-lessons

Foellmi, R. & Meister, U. 2012. Enhancing the Efficiency of Water Supply—Product Market Competition Versus Trade Journal of industry, competition and trade. ISSN: 1566-1679 12: 299-324

Klein, M 1996 Economic Regulation of Water Companies Policy research Working papers, World Bank , http://web.mit.edu/urbanupgrading/waterandsanitation/resources/pdf-files/KleinRegulation.pdf

Lobina, E. (2005) Problems with Private Water Concessions: A Review of Experiences and Analysis of Dynamics International journal of water resources development. ISSN: 0790-0627 Volume 21

Saal, D. And Parker, D. 2000. The impact of privatiztion and regulation on the water and sewerage industry in England and Wales: a translog cost function model, Managerial and decision economics. ISSN: 0143-6570, vol 21

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Gas and Electricity

Bushnell, JB and, Mansur, ET 2008 Vertical arrangements, market structure, and competition: An analysis of restructured US electricity markets, American economic review. ISSN: 0002-8282

Dahl, CA, 2015 International energy markets : understanding pricing, policies, and profits ISBN: 9781680158649 (electronic bk.); 1680158643 (electronic bk.); 9781593702915; 1593702914, Knovel

M Giulietti, CW Price, M Waterson 2005 - Consumer choice and competition policy: a study of UK energy markets Economic journal. ISSN: 0013-0133

Newbery, D, 2000. Privatization, restructuring, and regulation of network utilities ISBN: 0262140683

OECD, 2000, Promoting Competition in the Natural Gas Industry, Round Table 30 http://www.oecd.org/daf/competition/sectors/1920080.pdf

Oguz, F 2010 Competition by regulation in energy markets: the case of Turkey European journal of law and economics. ISSN: 0929-1261 August 2010, Volume 30, Issue 1, pp 41–58

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Telecoms

Bortolotti, B, D’Souza, J et al 2002 Privatization and the sources of performance improvement in the global telecommunications industry Telecommunications policy. ISSN: 0308-5961 Volume 26, Issues 5–6, Pages 243–268

Buigues, PA and Rey, P 2003 The economics of antitrust and regulation in telecommunications : perspectives for the new European regulatory framework ISBN: 1843765101 Edward Elgar

Hausman, J and Sidak, JG, 2005, Telecommunications Regulation: Current Approaches with the End in Sight in Nancy L. Rose, (editor) 2014 Economic regulation and its reform : what have we learned? ISBN: 9780226138169 (e-book) (p. 345 - 406) Published in June 2014 by University of Chicago Press

Rhee, J-C, 2016, Limits of regulatory governance change in the post-developmental state: Korean telecommunications market restructurings from a comparative perspective Asian journal of political science ISSN: 0218-5377 vol 24 Pages 142-161

Wallsten, SJ, 2001 An econometric analysis of telecom competition, privatization, and regulation in Africa and Latin America, The journal of industrial economics. ISSN: 0022-1821

Waverman, L., Koutroumpis, P. 2011 Benchmarking telecoms regulation–the telecommunications regulatory governance index (TRGI), - Telecommunications policy. ISSN: 0308-5961

This list was last updated on 02/02/2018