Technological externalities and economies of vertical integration in the electric utility industry

被引：37
作者：
Nemoto, J [1 ]
Goto, M
机构：
[1] Nagoya Univ, Grad Sch Econ, Nagoya, Aichi 4648601, Japan
[2] Cent Res Inst Elect Power Ind, Socio Econ Res Ctr, Tokyo 1008126, Japan
来源：
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION | 2004年 / 22卷 / 01期
关键词：
economies of vertical integration; shadow cost function; allocative inefficiency; electric utility industry;
D O I：
10.1016/S0167-7187(03)00091-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper investigates economies of vertical integration of the electric utility industry, focusing on the technological externality between the generation and transmission- distribution stages. For this purpose, a shadow cost function of the symmetric generalized McFadden form is estimated using panel data on the transmission-distribution stage of nine Japanese electric utility firms. The results show that there exist the technological externality effects of generation facilities on the cost of the transmission- distribution stage, suggesting economies of vertical integration. (C) 2003 Elsevier B.V. All rights reserved.
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页码：67 / 81
页数：15
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