Brau, Rinaldo - Doronzo, Raffaele - Fiorio, Carlo V. - Florio, Massimo (2008) Gas industry reforms and consumers' prices in the European Union: An empirical analysis. Working Paper. CRENoS, Cagliari.
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Official URL: http://crenos.unica.it/crenos/files/08-16-final_0....
The paper offers an exploratory empirical analysis of the impact on consumers’ welfare of the reforms of the gas industry in EU-15 area. After considering the key features of the natural gas industry and of its reform in selected countries, we study the relationship between regulatory reform indicators and price dynamics by means of panel data techniques. We find that none of the relationships between price dynamics and regulatory reform indicators is robust to different econometric specifications. Our findings suggest that until now there is limited evidence of beneficial effects of a standard package gas industry reforms for the European consumers. Country specific factors and price inertia seem to be more important than the reforms as determinants of consumers’ prices.
|Item Type:||Technical Report / Working Paper / Project Report (Working Paper)|
|Institution:||Universita' degli Studi di Cagliari|
|Divisions:||Centri > CRENoS Centro Ricerche Economiche Nord Sud|
|Subjects:||Area 13 - Scienze economiche e statistiche > SECS-P/02 Politica economica|
Area 13 - Scienze economiche e statistiche > SECS-P/01 Economia politica
|Uncontrolled Keywords:||Natural gas industry, privatization, liberalization, regulatory reform|
|Deposited On:||03 Nov 2009 13:43|
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