Introduction to Regulatory Economics (Basic Theories and Their Application in Government Regulation Practice)

Author: Wang Junhao
Publisher:
Publish Date: 2001-12-01
Features: Government Regulation Economics is an emerging interdisciplinary field. This book analyzes the demand and supply, cost and benefit of government regulation as a special public product. It comprehensively elaborates on the fundamental principles of economic regulation and social regulation, the process of government regulation, theories of government regulation under information asymmetry, and the theory of regulatory capture. It also delves into theories such as natural monopoly theory, investment regulation theory, investment management theory, price level and price structure regulation theory, entry regulation theory, and the competition theory of natural monopoly industries. Taking the three natural monopoly industries of telecommunications, electricity, and water supply as examples, it provides a detailed discussion of the practical application of these regulatory theories. Building on the theories of externalities and information asymmetry, the book also explores the government's regulation of the environment and product quality. Finally, it forecasts the two major trends of relaxing economic regulation and strengthening social regulation in China and proposes corresponding policy approaches.