An analysis of technology, productivity, and regulatory distortion in the interstate natural gas transmission industry: 1977–1985
✍ Scribed by Robin C. Sickles; Mary L. Streitwieser
- Publisher
- John Wiley and Sons
- Year
- 1998
- Tongue
- English
- Weight
- 204 KB
- Volume
- 13
- Category
- Article
- ISSN
- 0883-7252
No coin nor oath required. For personal study only.
✦ Synopsis
The purpose of this paper is to provide the ®rst comprehensive ®rm level analysis of cost structures and production in the interstate pipeline industry during the transition from price regulation to partial deregulation, 1977±85. The regulatory changes during this period were numerous and complex. We do not attempt to isolate the impact of any single change in regulation; rather, we examine how the regulatory environment, as a whole, aected the industry. Our study is based on a newly constructed panel of twentyfour interstate pipeline ®rms. We give particular attention to the impact of output change, technical change, scale economies, and non-optimal input allocation on total factor productivity growth and the implication of the 1978 Natural Gas Policy Act partial price decontrol relative to total wellhead price decontrol for residential, commercial, utility, and industrial consumers of natural gas, and for the transport industry itself.