Competition and Regulation Times. May 2005. Issue 16.

Authors

  • ISCR Staff

Abstract

  • Title: Did regulation save the whales? Abstract: Whales were pushed to the brink of extinction before a worldwide moratorium against commercial whaling came into force in 1986. But was it the moratorium that saved the whales- or economics? Viktoria Schneider from Otago University and David Pearce from University College of London suggest the later. Author: Viktoria Schneider, David Pearce
  • Title: Creative destruction alive and well in NZ Abstract: Headlines of job losses, downsizing, and bankruptcy are seldom associated with a vibrant economy - yet such creative destruction is an essential ingredient in the creation of economic growth. ISCR's Steen Videbeck looks at some recent research, by John McMillan from Stanford Graduate College of Business, which has endeavoured to quantify the amount of creative destruction present in the New Zealand economy. Author: John McMillan, Steen Videbeck
  • Title: Just when you thought it was safe to turn on the lights Abstract: The winters of 2001 and 2003, when New Zealand's electricity generation and distribution systems struggled to meet demand, highlighted the country's capacity vulnerability. Peter McLay warns that the relative stability of electricity prices during the 2004 winter should not distract us from long-term capacity-planning issues. Author: Peter McLay
  • Title: Fitting governance Abstract: Disney, Enron, Marsh & McLennan, Worldcom (in the United States), Parmalat (Italy) and Yukos (Russia) - it's apparent that corporate governance failures are a global problem. While New Zealand appears to have come through the corporate malaise unscathed, recent allegations of insider trading at Tranz Rail suggest that the potential for poor corporate governance can be an issue in any environment. Stuart Gillian has been casting an eye over some aspects of the current approach to governance reform. He asks if it risks missing the big picture. Author: Stuart L. Gillian
  • Title: B-, maybe? Evaluating our financial markets Abstract: How well are New Zealand financial markets performing? Paul Dickie from Victoria Management School provides some provocative answers to this question. Author: Paul Dickie
  • Title: Walking over property rights Abstract: At the end of 2004, Cabinet agreed to a policy on walking access over privately owned land. It endorsed the view that this access can be provided at near-zero cost to landowners. The Cabinet paper notes that 'the walking access policy in not intended to interfere with the essential elements of a landholder's title to the land. Landholders will continue to retain their rights to the occupation and use of the land'. Officials are still working on policy relating to the need (or absence of need) for compensation to private owners of land over which the access is provided. Lewis Evans and Neil Quigley offer a contribution to their deliberations and an assessment of the costs of the policy. Author: Neil Quigley, Lewis Evans
  • Title: More broadband? More competing platforms! Abstract: Broadband access provides internet users with high-speed always-on connectivity - and many policymakers see ubiquitous broadband access as the way for consumers and firms to exploit the potential of new computerised internet applications. Now an international policy debate on how to stimulate the adoption of broadband technologies is underway, with competition policy as one of its most disputed issues. Bronwyn Howell unbundles the arguments - and the evidence. Author: Bronwyn Howell
  • Title: Equal information access...at a cost Abstract: The New Zealand Exchange (NZX) recently required listed firms to disclose immediately any information that may affect their share price. The provision of more equal access to information should be fairer, preventing a small group of privileged investors from profiting at the expense of others. But - as ISCR's Richard Frogley points out - recent research in the United States suggests that this benefit comes at a significant cost. Author: Richard Frogley

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Published

2005-05-01