Incentive Effects of Rate-of-Return Regulation in Hong Kong

被引：0

作者：

Pun-Lee Lam

机构：

[1] Hong Kong Polytechnic University M322A,Department of Business Studies

来源：

Journal of Regulatory Economics | 1997年 / 12卷

关键词：

Electric Power; Public Finance; Industrial Organization; Power Industry; Development Fund;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

A recent paper published by this journal (Peles and Whittred 1996) discussed the regulatory arrangement of the Scheme of Control in Hong Kong. Instead of encouraging electric utilities to finance their assets proportionately more by equity as argued by the authors, the Scheme has in fact given them an incentive to rely on debt financing. A major incentive aspect of the Scheme lies in the formation of a development fund for making internal transfers. This development fund arrangement has provided an incentive for the two electric utilities to improve efficiency and has facilitated the expansion of the electric power industry.

引用

页码：319 / 325

页数：6

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