Drawing lessons from across the pond: the fungibility of US and British telephone regulation

English During the last two decades there has been an increasing amount of attention within policy studies to 'lesson-drawing' - a process through which governmental jurisdictions formulate policy by learning from the experiences of political actors in other times and places. While a substantial body of theoretical literature has been generated on the topic, insufficient attention has been paid to issues of 'fungibility' or adaptability of lessons from one context to another. The purpose of this article is to begin to fill in this gap in the literature by adapting and testing several fungibility hypotheses posited by Rose (1993) against a case study of US telephone rate regulation.