Policy changes in the Swiss electricity market: Analysis of likely market responses

The Swiss electricity market is still a public monopoly. Switzerland do not intend to be part of the single European electricity market, but given its strategic geographical position—Switzerland is in the middle of the core area of the European Union, Swiss power producers maintain electricity exchanges (imports and exports) with neighbouring countries. These exchanges represent an important source of revenue for Swiss utilities.

Switzerland is currently facing a period of fundamental policy changes. Even though the market has not been legally liberalised, emergent liberalisation is taking place. Furthermore, nuclear dismantling has been debated since the early 1980s. People have not yet accepted the dismantling proposition, so there is actually no law banning the construction of new nuclear plants, but given the current attitude of the population and the politicians any new nuclear investments are most unlikely.

The aim of this paper is to illustrate likely market responses to different policy changes in the Swiss electricity market, such as nuclear phase-out and changes in international exchanges policies that may arise as a consequence of the emergent liberalisation that is taking place in this market.

This article presents a conceptualisation model that helps understanding the logic of the dynamic behaviour of the Swiss electricity market, and illustrates the rationale of politicians and decision makers involved in the market planning process, as well as the possible consequences of the implementation of different policies. The purpose is not to forecast or quantify market response, but to identify and understand possible scenarios for market behaviour.     

Competition and Innovation in Retail Electricity Markets: Evidence from Italy

Italy's 2015 Annual Competition Law, if finally approved, provides for phasing out retail electricity price regulation, as well as the implementation of full retail liberalisation, from 1 July 2018. This is a significant reform, not just because it is consistent with the broader market design for electricity. Indeed, retail liberalisation is a qualifying element of the full integration of the European Union's electricity market. The full opening of retail markets provides a great opportunity for innovation, both on the demand side and on the supply side. This article investigates the theoretical background, and presents some empirical evidence, on the competition–innovation nexus in retail electricity markets.     

WATER PRIVATISATION : TOO MUCH REGULATION?

Water privatisation has had some success in allowing capital to be raised without going to government, in improving efficiency and in depoliticising industry decisions. But there is little sign of the liberalisation that, in other privatised utilities (notably gas and electricity), has been so beneficial to customers. It is time to reconsider the view that 'water is different' and to examine how to liberalise the water market. Two necessary steps appear to be to separate the pipeline networks from other activities and to adopt a more light-handed approach to environmental and quality regulation.     

Investment Incentives and Electricity Spot Market Competition

In this paper we analyze investment decisions of strategic firms that anticipate competition on many consecutive spot markets with fluctuating (and possibly uncertain) demand. We study how the degree of spot market competition affects investment incentives and welfare and provide an application of the model to electricity market data. We show that more competitive spot market prices strictly decrease investment incentives of strategic firms. The effect can be severe enough to even offset the beneficial impact of more competitive spot markets on social welfare. Our results obtain with and without free entry. The analysis demonstrates that investment incentives necessarily have to be taken into account for a serious assessment of electricity spot market design.     

减税降费政策对酒店业的影响研究

2012年国家开始了营业税改增值税试点,营改增政策的实施对酒店行业产生了深远影响.2018年以来,特别是2019年国家实施了更大规模的减税降费政策,对促进企业投资、有效降低企业税负、激发市场活力、推动整个经济高质量快速发展起到了巨大的作用.文章以酒店业为研究对象,通过梳理适用酒店业的减税降费政策内容,分析了这些减税降费政策对酒店行业经营、投资及融资等方面的影响,提出了有针对性的建议,以使酒店行业企业更好地利用税收政策,享受改革红利,促进企业快速高质量发展.     

地方政府执行房地产调控政策分析

近年来,我国政府针对房价过高问题,陆续出台了一系列调控政策,但是执行效果并不理想。从地方政府行为动机角度出发,运用博弈分析方法,认为调控政策的有效执行受到外部损失、房地产行业税收贡献率、相应调控政策执行成本及对房地产开发商超额利润的惩戒力度等四个因素制约。中央政府对地方政府的政绩考核应以经济为主要指标,以房价调控绩效为辅助指标,调动地方政府执行政策积极性。只有这样,才能从根本上解决房地产调控政策制定与执行不统一的问题,达到对房地产市场有效调控的目标。     

Multilateral Trade Liberalisation and Foreign Direct Investment Inflows

This paper investigates two questions: how does multilateral trade liberalisation affect inward foreign direct investment, and does this impact (if any) depend on the domestic trade policy? The analysis uses a panel data set comprising 171 countries spanning the period 1995–2012. Results indicate that multilateral trade policy liberalisation is conducive to higher FDI inflows in host countries. Furthermore, our evidence suggests that domestic trade policy almost always positively drives inward FDI in a context of multilateral trade policy liberalisation. Countries which initially have the most restrictive trade policy regimes appear to be the greatest beneficiaries of FDI inflows when they liberalise their trade policy in the context of multilateral trade liberalisation.     

中国制度环境下私募股权投资现状与趋势

本文通过历史研究方法,对中国私募股权投资市场的发展历史、现状以及特点进行分析,并运用规范性分析研究未来私募股权投资整体行业的发展趋势,提出了私募股权投资在政策法规、行业发展和产品创新等方面的建议.私募股权投资在面临行业和法律政策调整的背景下,可以加强与政府合作,从募、投、管、退各个环节提升服务质量以及产品和业务的创新,进而实现行业可持续发展.     

新市场环境下的发电商监管

随着市场化改革的进一步推进和电煤价格的上涨,我国的发电市场环境发生了新的变化,在新的形势下电力监管中出现了新的问题,本文分析了目前的问题并结合国内外先进市场监管经验的基础上提出了改进措施。     

Film marketing in Europe: bridging the gap between policy and practice

Concerns with US domination of European cinema screens and the apparent lack of success of policy makers to support sustainable development of the film industry has meant that these issues have remained topical for policy makers and researchers. This is also evidenced by both media attention and an increased research focus on the film industry, particularly from a marketing perspective.^1–7 To date, neither policy nor empirical research has had a significant impact on the development and understanding of the industry. This paper seeks to bridge the perceived gap between policy and the practice of film marketing in Europe. The interface between film marketing policy and practice in Europe offers an interesting venue to explore. While the macro‐environment is invariably emphasised in terms of its impact on marketing, many marketing academics and practitioners neglect the role that policy plays in shaping the practice of marketing. This paper undertakes an historical analysis of protectionism in the US film industry from its inception and highlights the likely impact of similar protectionism in the European context. It also explains how Hollywood studios control domestic and international markets. The historical overview shows the importance of vertical integration in producing a successful marketing campaign. An exploration of the debate focusing on the call for liberalisation of the global audiovisual market is also undertaken from an industrial and cultural perspective to assess the possible impact that this will have upon film marketing in Europe, in addition to the implications for European cultural identity. Copyright © 2004 Henry Stewart Publications