Reform and Efficiency Gains in the New Zealand Electrical Supply Industry
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...
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Veröffentlicht in: | Journal of productivity analysis 1999-04, Vol.11 (2), p.133-147 |
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Format: | Artikel |
Sprache: | eng |
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Online-Zugang: | Volltext |
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Zusammenfassung: | 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. |
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ISSN: | 0895-562X 1573-0441 |
DOI: | 10.1023/A:1007767631738 |