Competition and Regulation Times. March 2009. Issue 28

Abstract

• Title: It's just compensation: the economic consequences of New Zealand's lst unprotected human right Abstract: Politicians from across the political spectrum talk about 'transforming' New Zealand's economy to one focused on investment in technology-based and high-value-added businesses developed and owned within this country. But Lewis Evans, Neil Quigley and Kevin Counsell argue that New Zealand's current approach to protection of property rights (and especially protection from the state's taking of these rights without compensation) runs contrary to such an ideal - and to New Zealand's more general objective of econmic and social progress. Author: Neil Quigley, Lewis Evans, Kevin Counsell
• Title: (Some) vertical integration may not be so bad after all Abstract: Many electricity sectors, including New Zealand's, don't fit the textbook picture of a liberalised market: vertical integration between generation and retail is prevalent; and contract markets are thin. Contrary to popular belief, this needn't be a cause for competition angst. Seini O'Connor and Richard Meade explain why. Author: Richard Meade, R. Seini O'Connor
• Title: Doing the Hokey-Tokey in asset markets Abstract: Assume that a government uses its policies and influence to favour the views of its supporters ... does this lead to differing outcomes in asset markets, as power switches between right- and left-leaning parties? Chris Malone, Ben Marshall and Hamish Anderson summarise some recent research. Author: Hamish Anderson, Ben Marshall, Chris Malone
• Title: Are competition and regulation two sides of the same governance coin? Abstract: Good-quality corporate governance helps ensure that suppiers of capital receive a fair return on their investments - and so it promotes confidence in capital markets. But what factors determine the quality of corporate governance? Do a country's competition and regulatory framework affect the governance choices of its firms? Chandrasekhar Krishnamurti describes the results of some recent research. Author: Chandrasekhar Krishnamurti
• Title: A regulator's bark can be more effective than its bite Abstract: Regulators often act. But they can also simply threaten to act. Laura Hubbard outlines some general principles associated with such a strategy - and explores particular case studies. Author: Laura Hubbard
• Title: Giving it away? How open source software competes in the marketplace Abstract: Open source software (OSS) such as Linux, Firefox and Apache - along with OSS-based IT companies like Red Hat and Catalyst - is becoming increasingly prevalent. So how can an ostensibly 'free' product survive and thrive in a market? network externalities are a major reason, says David Hume, but other factors are also important. Author: David Hume