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Regulatory Benchmarking with Panel Data

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Abstract

This paper considers panel data procedures for regulatory benchmarking that allow for both latent heterogeneity and inefficiency, encapsulating the regulatory dilemma in comparative efficiency analysis for incentive regulation. It applies a distance function model with appropriate concavity properties for econometric estimation to a panel of electricity distribution utilities in Turkey, since electricity industry reform is a major policy issue there. The results confirm the importance of allowing simultaneously for heterogeneity and inefficiency and emphasise the need for specific time-invariant heterogeneity information, such as geographical data, on regulated utilities in different regions.

Suggested Citation

  • Necmiddin Bagdadioglu & Thomas Weyman-Jones, 2007. "Regulatory Benchmarking with Panel Data," Discussion Paper Series 2007_03, Department of Economics, Loughborough University, revised Jan 2007.
    • Handle: RePEc:lbo:lbowps:2007_03
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    File URL: http://www.lboro.ac.uk/departments/ec/RePEc/lbo/lbowps/WJBA_wp2007_03.pdf
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    Cited by:

    1. Massimo Filippini & Lin Zhang, 2013. "Measurement of the “Underlying energy efficiency” in Chinese provinces," CER-ETH Economics working paper series 13/183, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    2. Massimo Filippini & Martin Koller, 2012. "Cost Efficiency Measurement in Postal Delivery Networks," Quaderni della facoltà di Scienze economiche dell'Università di Lugano 1206, USI Università della Svizzera italiana.

    More about this item

    Keywords

    efficiency and productivity analysis; regulation; electricity distribution.;
    All these keywords.

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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