Gas Industry Reforms and Consumers’ Prices in the European Union: An Empirical Analysis

39 Pages Posted: 16 Jul 2018

See all articles by Rinaldo Brau

Rinaldo Brau

Università di Cagliari - Department of Economics & Business; Universita di Cagliari - Centre for North South Economic Research (CRENOS)

Raffaele Doronzo

Bank of Italy

Carlo V. Fiorio

University of Milan - Department of Economics, Management and Quantitative Methods (DEMM)

Massimo Florio

University of Milan - Department of Economics, Management and Quantitative Methods (DEMM)

Date Written: 2008

Abstract

The paper offers an exploratory empirical analysis of the impact on consumers’ welfare of the reforms of the gas industry in EU-15 area. After considering the key features of the natural gas industry and of its reform in selected countries, we study the relationship between regulatory reform indicators and price dynamics by means of panel data techniques. We find that none of the relationships between price dynamics and regulatory reform indicators is robust to different econometric specifications. Our findings suggest that until now there is limited evidence of beneficial effects of a standard package gas industry reforms for the European consumers. Country specific factors and price inertia seem to be more important than the reforms as determinants of consumers’ prices.

Keywords: Natural gas industry, privatization, liberalization, regulatory reform

Suggested Citation

Brau, Rinaldo and Doronzo, Raffaele and Fiorio, Carlo V. and Florio, Massimo, Gas Industry Reforms and Consumers’ Prices in the European Union: An Empirical Analysis (2008). Available at SSRN: https://ssrn.com/abstract=3202138

Rinaldo Brau

Università di Cagliari - Department of Economics & Business ( email )

V. S. Ignazio 17
Cagliari 09123, CA 09123
Italy
+39 070 6753315 (Phone)
+39 178 2243016 (Fax)

Universita di Cagliari - Centre for North South Economic Research (CRENOS) ( email )

V. S. Ignazio 78
Cagliari, 09124
ITALY

Raffaele Doronzo

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Carlo V. Fiorio

University of Milan - Department of Economics, Management and Quantitative Methods (DEMM) ( email )

Via Conservatorio, 7
Milan, 20122
Italy

Massimo Florio (Contact Author)

University of Milan - Department of Economics, Management and Quantitative Methods (DEMM) ( email )

Via Conservatorio 7
I-20122 Milano, 20122
Italy
+39 02 50321510 (Phone)
+39 02 50321505 (Fax)

HOME PAGE: http://www.demm.unimi.it/ecm/home

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