Reform and Efficiency Gains in the New Zealand Electrical Supply Industry |
| |
Authors: | Scully Gerald W |
| |
Institution: | (1) School of Management, University of Texas at Dallas, Richardson, Texas, 75083-0688 |
| |
Abstract: | As part of a general program of market-based reform, New Zealand transformed the electrical supply industry from state-owned to commercially-oriented power companies. This paper tests the hypothesis that such privatization is efficiency-improving. A translog cost function is specified and estimated with controls for system (engineering) characteristics and environmental variables, and it is found that the reforms had substantial cost-reducing effects. The reforms are found to have benefitted customers, with the real price of electricity falling 16.4 percent, over the period. |
| |
Keywords: | Reform efficiency gains electrical supply |
本文献已被 SpringerLink 等数据库收录! |
|