Designing Economic Regulatory Institutions for European Network Industries

Abstract

This paper examines the design of the regulatory framework governing European network industries, taking account of structures that are more and less centralised than the status quo. We develop a framework within which the key criteria shaping regulatory structures are discussed. Given these criteria we are interested in addressing who is managing and who should be managing 'multi-level' regulation in Europe. Having outlined the criteria that oughht to be satisfied by a 'good' regulatory regime, we argue qualitatively that the institutional framework of regulation falls into one of four categories. We then assess how each of these categories perform in terms of the criteria we establish. Throughout our discussion the principle actors in the regulatory game are examined.