Non-market Allocation in Transport: A Reassessment of its Justification and the Challenge of Institutional Transition
Ulrich Blum
50 Years of Transport Research: Experiences Gained and Major Challenges Ahead,
2005
Abstract
Economic theory knows two systems of coordination: through public choice or through the market principle. If the market is chosen, then it may either be regulated, or it may be fully competitive (or be in between these two extremes). This paper first inquires into the reasons for regulation, it analyses the reasons for the important role of government in the transportation sector, especially in the procurement of infrastructure. Historical reasons are seen as important reasons for bureaucratic objections to deregulation. Fundamental economic concepts are forwarded that suggest market failure and justify a regulatory environment. The reasons for regulation cited above, however, may be challenged; we forward theoretical concepts from industrial organization theory and from institutional economics which suggest that competition is even possible on the level of infrastructure. The transition from a strongly regulated to a competitive environment poses problems that have given lieu to numerous failures in privatization and deregulation. Structural inertia plays an important role, and the incentive-compatible management of infrastructure is seen as the key element of any liberal transportation policy. It requires that the setting of rules on the meta level satisfies both local and global efficiency ends. We conclude that, in market economies, competition and regulation should not be substitutes but complements. General rules, an "ethic of competition" have to be set that guarantee a level playing field to agents; it is complimented by institutions that provide arbitration in case of misconduct.
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Cross-border bank mergers: What lures the rare animal?
Claudia M. Buch, G. DeLong
Journal of Banking and Finance,
No. 9,
2004
Abstract
Although domestic mergers and acquisitions (M&As) in the financial services industry have increased steadily over the past two decades, international M&As were until recently relatively rare. Moreover, the share of cross-border mergers in the banking industry is low compared with other industries. This paper uses a novel dataset of over 3000 mergers that took place between 1985 and 2001 to analyze the determinants of international bank mergers. We test the extent to which information costs and regulations hold back merger activity. Our results suggest that information costs significantly impede cross-border bank mergers. Regulations also influence cross-border bank merger activity. Hence, policy makers can create environments that encourage cross-border activity, but information cost barriers must be overcome even in (legally) integrated markets.
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Employment in the East German environmental sector - an analysis based on the IAB Company Panel
Walter Komar
Wirtschaft im Wandel,
No. 13,
2001
Abstract
Auf der Basis einer Analyse des IAB-Betriebspanels wurde die Umweltbeschäftigung in den neuen Bundesländern berechnet.
Danach waren 1999 etwa 182 000 Personen in der Produktion von Umweltschutzgütern und Umweltschutzdienstleistungen tätig. Den
Einschätzungen der Betriebe zufolge ist mittelfristig eine Zunahme der Beschäftigung bei den Umweltschutzdienstleistungen, insbesondere im Klimaschutz, zu erwarten.
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Climate protection policy in the housing sector: Lacking impact and need for action
Steffen Hentrich
Wirtschaft im Wandel,
No. 11,
2001
Abstract
Energiesparmaßnahmen im Wohnungsbau tragen erheblich zur Reduzierung von Treibhausgasen bei. Trotz der Potenziale sind die Emissionen der Haushalte in den vergangenen Jahren weiter gestiegen. Die Wirkung von Energiesparvorschriften und Förderprogrammenwurde überschätzt und wichtige marktspezifische Hemmnisse blieben unbeachtet.
Da die Risiken des Treibhauseffekts in den gegenwärtigen Heizenergiepreisen kaum Niederschlag finden, reichen die preislichen Energiesparanreize für einen wirksamen Klimaschutz nicht aus. Wohnungsmarktspezifische Wirkungsbrüche verstärken dieses Defizit, mit der Folge, dass wirtschaftlich vertretbare Energiesparmaßnahmen unterbleiben. Das beschränkt die Wirksamkeit von Wärmeschutzstandards und Förderprogrammen.
Notwendig sind daher Maßnahmen, die bei Anbietern und Nachfragern gleichermaßen Energiesparanreize setzen. Eine schrittweise Erhöhung der Ökosteuer auf Heizenergieträger, eine geringere Wohnungsmarktreglementierung und Maßnahmen zur Erhöhung der Energieverbrauchstransparenz vergrößern die Energiesparanreize für beide Marktseiten.
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Beschäftigungseffekte einer umweltgerechten Entsorgung von Siedlungsabfällen
Steffen Hentrich
IWH Discussion Papers,
No. 149,
2001
Abstract
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Employment in Germany´s environmental sector. An empirical analysis based on the IAB company panel
Jens Horbach, Uwe Blien, Michael von Hauff
IWH Discussion Papers,
No. 132,
2001
Abstract
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Ten years of ecological reconstruction in the New Länder
Steffen Hentrich, Walter Komar, Martin Weisheimer
Wirtschaft im Wandel,
No. 16,
2000
Abstract
Der Beitrag analysiert die Fortschritte des ökologischen Aufbauprozesses in den neuen Ländern. Schwerpunkte sind hierbei die ökologische Modernisierung der Wirtschaft, der Ausbau der Entsorgungsinfrastruktur und die Beseitigung altlastbedingter Investiti-onshemmnisse. Darauf aufbauend wird noch zu bewältigender Handlungsbedarf im Umweltschutz der neuen Länder aufgezeigt.
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Environmental protection in the new Länder – Results 10 years after the German Unification
Steffen Hentrich, Walter Komar, Martin Weisheimer
IWH Discussion Papers,
No. 128,
2000
Abstract
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Environmental policy under product differentiation and asymmetric costs - Does leapfrogging occur and is it worth it?
Jacqueline Rothfels
IWH Discussion Papers,
No. 124,
2000
Abstract
This paper studies the influence of environmental policies on environmental quality, domestic firms, and welfare. Point of departure is Porter’s hypothesis that unilateral environmental regulation may enhance the competitiveness of domestic firms. This hypothesis has recently received considerable support in theoretical analyses, especially if imperfectly competitive markets with strategic behavior on behalf of the agents are taken into account. Our work contributes to this literature by explicitely investigating the implications of asymmetric cost structures between a domestic and a foreign firm sector. We use a partial-equilibrium model of vertical product differentiation, where the consumption of a product causes environmental harm. Allowing for differentiated products, the domestic industry can either assume the market leader position or lag behind in terms of the environmental quality of the produced product. Assuming as a benchmark case that the domestic industry lags behind, we investigate the possibility of the government to induce leapfrogging of the domestic firm, i.e. a higher quality produced by the domestic firm after regulation than that of the competitor prior to regulation. It is shown that in the case of a cost advantage for the domestic firm in the production process the imposition of a binding minimum quality standard can serve as a tool to induce leapfrogging. In case of a cost disadvantage the same result can be achieved through an adequate subsidization of quality dependend production costs. Thus, careful regulation enables the domestic firm in both scenarios to better its competitive position against foreign competitors and to earn larger profits. Additionally, environmental quality and welfare can be enhanced.
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The economic dimension of sustainability and entropy economy in the energy sector
Martin Weisheimer
IWH Discussion Papers,
No. 120,
2000
Abstract
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