Theoretical and Applied Economics
No. 12 / 2011 (565)
General Equilibrium Analysis of Electricity Market Liberalization in Singapore: A Comparative Study
Boston University, USA
Abstract. The liberalization in electricity market in Singapore has being undertaken for more than 15 years. This paper evaluates the influence of competition policies by computable general equilibrium (CGE) model. Instead of the direct measurement of the impact of competition policy, the benefit of liberalization is reflected by the simulation of a hypothetical regulatory condition. Comparing to the regulatory scenario, simulation result implies the current liberalization raises GDP and exchange rate significantly, but also leaves the tradeoff between higher national income and lower consumer welfare to government. If such choice of economic policy is necessary for political demand, a formal legal framework is required to enforce the restoration of the economy from regulatory restrictions.
Contents
The Monetary Policy and the Real Estate Market
Considerations regarding the Valuation and Valorization of Cultural Heritage
Institutional Metamorphoses regarding the Exercise of External Public Audit in Romania
Oltenia – Micro-destination of Cultural and Medical Spa Tourism
The Challenges of Basel III for Romanian Banking System
A Static Analysis of Pakistan’s Trade Policy with Selected Asian Countries
Social and Environmental Issues in Corporative Management: A Romanian Story
General Equilibrium Analysis of Electricity Market Liberalization in Singapore: A Comparative Study
Equity Risk Premium for Investments Projects in Renewable Resources