Regulatory Policies and Reforms in the Power and Downstream Oil Industries

PJD 2004 Vol. XXXI No. 1-c

2006

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This paper looks at the regulatory reforms in the electricity and downstream oil industries, two important inputs to the production process that were heavily regulated by the government. While electricity has strong externalities as well as economies of scale and scope, the oil industry does not exhibit natural monopoly characteristics nor does it display economic features that would warrant government regulation. The paper also analyzes the economic theories underlying these reforms: why is regulation necessary, what are the different forms of regulation, and how can these policy reforms bring about competition? It also identifies the emerging issues and problems associated with the regulatory reforms. Given our little experience in the effective use of public regulation in a market-driven setting, research is needed to provide a deeper understanding of these issues within the context of our economic, institutional, and political structure. This is necessary in order to come up with possible approaches to overcome our weaknesses and shore up weak administrative and enforcement capacities.

Citations

This publication has been cited time(s).

Aldaba, Rafaelita M., 2005 "The impact of market reforms on competition, structure and performance of the Philippine economy" , Philippine Institute for Development Studies
Aldaba, Rafaelita M., 2005 "The impact of market reforms on competition, structure and performance of the Philippine economy" , East Asian Bureau of Economic Research
Fabella, Raul V., 2002 "The regulatory environment of the energy industry in the Philippines" , University of Manchester, Institute for Development Policy and Management (IDPM)
Ravago, Majah-Leah V. et. al, 2019 "The role of electricity prices in structural transformation: Evidence from the Philippines" , University of Hawaii at Manoa, Department of Economics
Ravago, Majah-Leah V. et. al, 2019 "The role of electricity prices in structural transformation: Evidence from the Philippines" , University of Hawaii Economic Research Organization, University of Hawaii at Manoa
Ravago, Majah-Leah V. et. al, 2019 "The role of power prices in structural transformation: Evidence from the Philippines" , Elsevier
Ravago, Majah-Leah et. al, 2016 "The role of electricity prices in structural transformation: Evidence from the Philippines" , University Library of Munich, Germany
Ravago, Majah-Leah and James Roumasset, 2016 "The public economics of electricity policy with Philippine applications" , University of Hawaii at Manoa, Department of Economics

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Philippine Institute for Development Studies

Authors

Aldaba, Rafaelita M.

Keywords

electricity and power; economic regulation; regulatory reform; downstream oil

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