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  • Anforme To what Extent is there Competition in the Markets where State-owned Industries were Privatised? The case of Telecommunications

Anforme To what Extent is there Competition in the Markets where State-owned Industries were Privatised? The case of Telecommunications

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Amy Chapman, Head of Economics and Business Studies at Cheltenham College and a Principal Examiner, discusses how the market for telecommunications in the UK has changed over the past two decades.

Summary of Key Points:

  • Privatisation of UK state-owned firms began in 1981 and now there are hardly any remaining nationalised industries. Privatisation can take several forms and have several objectives of which creating competition is only one.
  • The process of privatisation has typically involved the creation of specialist regulatory bodies which have attempted to stimulate efficiency by means of the price-capping RPI-X formula.
  • Oftel, the telecoms regulator, had a very active role in pushing BT towards facing a more competitive telecoms market.
  • The telecoms market has become more competitive and since 2006 BT has no longer been the subject of price regulation.

This article featured in ET Volume 18 Issue 3.

Amy Chapman, Head of Economics and Business Studies at Cheltenham College and a Principal Examiner, discusses how the market for telecommunications in the UK has changed over the past two decades.

Summary of Key Points:

  • Privatisation of UK state-owned firms began in 1981 and now there are hardly any remaining nationalised industries. Privatisation can take several forms and have several objectives of which creating competition is only one.
  • The process of privatisation has typically involved the creation of specialist regulatory bodies which have attempted to stimulate efficiency by means of the price-capping RPI-X formula.
  • Oftel, the telecoms regulator, had a very active role in pushing BT towards facing a more competitive telecoms market.
  • The telecoms market has become more competitive and since 2006 BT has no longer been the subject of price regulation.

This article featured in ET Volume 18 Issue 3.

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