Price Control Regulation of Privatized Utilities in the United Kingdom: What Lessons for the Developing Asian Nations

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Title Price Control Regulation of Privatized Utilities in the United Kingdom: What Lessons for the Developing Asian Nations
Author Hossain, Moazzem
Journal Name The Singapore Economic Review
Editor Euston Quah
Year Published 2005
Place of publication Singapore
Publisher World Scientific
Abstract Privatization of public utilities in the United Kingdom has been the key vehicle for attaining further improvement in living standards since the mid-1980s. The United Kingdom was the first of the developed nations to privatize public utilities in 1984 when it sold British Telecom (BT). In subsequent years, almost all developed and developing nations followed suit. Simultaneously, the UK's privatization initiatives established independent regulatory agencies to oversee the performance of the newly privatized natural monopolies to protect all the parties (consumers, operators and government) from any adverse consequences of privatization. Most importantly, the regulators oversee and manage the affects of privatization on price increases. This paper investigates the price control regulation of privatized utilities in the UK with a view to gaining further lessons from these experiences for the developing Asian nations where privatization of utilities is currently being seriously considered for adoption. The lessons are investigated from the economic viewpoints.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.worldscinet.com/ser/50/5001/S0217590805001858.html
Copyright Statement Copyright 2005 World Scientific Publishing Company. The electronic version of the article is published as above.
Volume 50
Issue Number 1
Edition April 2005
Page from 69
Page to 92
ISSN 0217-5908
Date Accessioned 2006-02-27
Language en_AU
Research Centre Griffith Asia Institute
Faculty Griffith Business School
Subject Applied Economics
URI http://hdl.handle.net/10072/4575
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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