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The Impact of Regulation on Productivity Growth: An Application to the Transmission Sector of the Interstate Natural Gas Industry

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  • Granderson, Gerald
  • Linvill, Carl

Abstract

We estimate a regulated cost function to examine the contributions of technical change, scale economies, and regulatory bias to productivity growth in an eleven-year, twenty-firm panel of interstate natural gas pipeline companies. We derive the unregulated cost function from the regulated cost function to produce estimates of movements in the unconstrained production technology. We find that the regulation constraint is binding in most years and that scale economies explain 38 percent more growth in the unconstrained production space than they do in the regulation-constrained production space. Copyright 1996 by Kluwer Academic Publishers

Suggested Citation

  • Granderson, Gerald & Linvill, Carl, 1996. "The Impact of Regulation on Productivity Growth: An Application to the Transmission Sector of the Interstate Natural Gas Industry," Journal of Regulatory Economics, Springer, vol. 10(3), pages 291-306, November.
    • Handle: RePEc:kap:regeco:v:10:y:1996:i:3:p:291-306
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    Cited by:

    1. Victor Ajayi & Michael Pollitt, 2022. "Changing times - Incentive regulation, corporate reorganisations, and productivity in Great Britain’s gas networks," Working Papers 023, The Productivity Institute.
    2. Lee, Jeong-Dong & Oh, Kyung Joon & Kim, Tai-Yoo, 1999. "Productivity growth, capacity utilization, and technological progress in the natural gas industry," Utilities Policy, Elsevier, vol. 8(2), pages 109-119, June.
    3. Victor Ajayi & Michael G. Pollitt, 2022. "Changing times: Incentive regulation, corporate reorganisations, and productivity in Great Britain’s gas networks," Working Papers EPRG2214, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    4. Capece, Guendalina & Cricelli, Livio & Di Pillo, Francesca & Levialdi, Nathan, 2010. "A cluster analysis study based on profitability and financial indicators in the Italian gas retail market," Energy Policy, Elsevier, vol. 38(7), pages 3394-3402, July.
    5. Granderson, Gerald & Linvill, Carl, 1998. "Nonparametric measurement of productive efficiency in the presence of regulation," European Journal of Operational Research, Elsevier, vol. 110(3), pages 643-657, November.
    6. Capece, Guendalina & Cricelli, Livio & Di Pillo, Francesca & Levialdi, Nathan, 2012. "New regulatory policies in Italy: Impact on financial results, on liquidity and profitability of natural gas retail companies," Utilities Policy, Elsevier, vol. 23(C), pages 90-98.

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