SYSTEMATIC APPROACH TO ECONOMIC REGULATION
SYSTEMATIC APPROACH TO ECONOMIC REGULATION

Summary/Abstract: Naturally monopolistic network industries such as railways, water and sewage, district heating and electricity infrastructure etc. are often subject to economic regulation in order to avoid wasteful duplication and to restrict monopolistic behaviour in the industry. A variety of different regulatory approaches have emerged as a result. The volume of empirical studies on the effects of economic regulation is increasing, yet the application of results to different environments is limited due to very context-based nature of regulatory instruments and interactions. In order to support more active analysis of local circumstances, this paper systematises and presents the institutional framework and practices of economic regulation of network industries in Estonia in a comprehensive manner. The authors analyse the composition of relevant industry sectors, the evolution of legislation and sector-specific regulators. Individual regulated services in different network industries are identified, detailed regulatory practices elaborated on, and volume of regulatory decisions is compiled accordingly.

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