Natural Monopoly and Regulation: Theory and Experience

Author: Huang Jizhong, Editor-in-Chief
Publisher:
Publish Date: 2004-08-01
Features: This collection is compiled based on research papers. It is divided into three parts: (1) Theory; (2) Experience; (3) Special Topics. Part I consists of three papers. The most noteworthy, perhaps controversial, is the paper by Li Huai, who explores the theory of network economic benefits and attempts to replace the traditional theory of natural monopoly definition. The second part collects eight papers. Qu Wenyi describes and studies the reform process of Russia's natural monopoly industries from three aspects: regulatory system reform, implementation of competition policy, and ownership restructuring. The conclusions are as follows: regulatory system reform, competition policy, and privatization methods should be implemented in coordination with corresponding competition policies, otherwise private monopoly may lead to greater welfare losses than state monopoly; on the other hand, due to severing the ties between government and corporate property relations, privatization makes market-oriented regulation and competition policy easier to implement. The third part collects five papers. Legal regulation is the essential feature of a modern regulatory system, so the study of legal regulation of natural monopoly industries is particularly important.