Abstract
Regulatory reform in airlines, telecommunications and electricity is linked to both the effects of price distortions and growth in market size. Competition may not be feasible in all segments of these industries. Industry structure based on vertical integration needs to be changed for competition to be feasible. This was unnecessary in airlines, but is required in telecommunication and electricity. Changes in regulation must accompany changes in industry structure. The process of regulatory reform seems to involve inevitable surprises that stimulate further change.
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