General Equilibrium Analysis of Electricity Market Liberalization in Singapore: A Comparative Study
The liberalization in electricity market in Singapore has being undertaken for more than 15 years. This paper evaluates the influence of competition policies by computable general equilibrium (CGE) model. Instead of the direct measurement of the impact of competition policy, the benefit of liberaliz...
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2011-12-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/672.pdf
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| Summary: | The liberalization in electricity market in Singapore has
being undertaken for more than 15 years. This paper evaluates the influence
of competition policies by computable general equilibrium (CGE) model.
Instead of the direct measurement of the impact of competition policy, the
benefit of liberalization is reflected by the simulation of a hypothetical
regulatory condition. Comparing to the regulatory scenario, simulation
result implies the current liberalization raises GDP and exchange rate
significantly, but also leaves the tradeoff between higher national income
and lower consumer welfare to government. If such choice of economic
policy is necessary for political demand, a formal legal framework is
required to enforce the restoration of the economy from regulatory
restrictions. |
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| ISSN: | 1841-8678 1844-0029 |