The economics of regulation : with a Queensland case study

Keir, David. (1989). The economics of regulation : with a Queensland case study Honours Thesis, School of Economics, University of Queensland.

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Author Keir, David.
Thesis Title The economics of regulation : with a Queensland case study
School, Centre or Institute School of Economics
Institution University of Queensland
Publication date 1989-01-01
Thesis type Honours Thesis
Total pages 109
Language eng
Subjects 14 Economics
Formatted abstract
THEORIES of economic regulation attempt to explain why regulation occurs. They look at who benefits and who loses from regulation. These theories examine the rationales behind the implemetation of regulation, and attempt to develop general rules for its development. This field has experienced considerable development in recent years as evidence in support of different contending theories has become available. This has in turn had its effect on the professional consensus regarding the efficacy of regulation. Consequently a notable feature of this literature is the interdependence of theory and policy. This study examines the contending theories in this debate. Two theories are chiefly examined; the market failure model derived from welfare economics and the Economic Theory of Regulation of the Chicago School. The first emphasises the efficiency gains possible from regulation, while the second views regulation as a distributive instrument. After an initial exposition and analysis of these theories, the case the regulation of the Queensland LPG industry regulation and deregulation is examined. It is found that while these theories are of little use in generating powerful predictions of regulatory change, they are useful in delineating the important variables and influences in regulation. The analysis of Queensland's LPG regulation reveals that in many ways it conforms to the Chicago approach, but that broader influences also had effect on the direction of regulatory change.

Document type: Thesis
Collection: UQ Theses (non-RHD) - UQ staff and students only
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Created: Wed, 24 Nov 2010, 01:31:50 EST by Ning Jing on behalf of The University of Queensland Library