2012, Vol.21, No.1

Journal of Regulation Studies 2023 KCI Impact Factor : 0.78

pISSN : 1738-7132
https://journal.kci.go.kr/ksrs2002

This paper aims at showing and somehow verifying the assertion that there is no significant distinct differences between social and economic regulations. In other words, it tries to show that under the existing classification concepts, it is not possible to analytically figure out substantial peculiarities of social regulation, comparing economic regulation. The introduction of such isomorphism seems to be quite important and urgent, considering the traditional economic-social regulation dualism extends a long shadow into the theory and policy practice of regulatory reform policy in general. The analysis is based on the viewpoint of J. Stigler which emphasizes the true nature of the regulation with the focus on the actual consequences not the stated purpose of regulations. As a result of the analysis, this paper could show that there are no particular differences between social and economic regulations in terms of their (actual not stated) goals, general characteristics of targets, the interest relations of the regulated group, and some specific characteristics of target industries and regulator network. Therefore, we must be aware of the possibilities of mistakes made by researches and practical policy suggestions derived on the basis of the dualism of social-economic regulations.

Generation capacity and market trading volume by private generation companies were less than 1% in 2001, however it reached up to 15% at the end of 2001. This sharp increase of market share by private sector is generally considered desirable, but could raise concerns of market power in the electricity industry. This study suggests two new indices to measure market power both in the market level and at firm level. Following Borenstein, Bushnell and Wolak (2002), we estimate the level of market power using data at firm level. Our estimation results using 2006 data suggest that the level of market power at market level is higher during summer than other seasons in 2006. In addition, this study suggests a new index to measure the level of market power at firm level, which is the relationship between market share of inframarginal firms and their frequency. This index implies that large firms tend to frequently determine the SMPs during the lower demand periods, while small firms tend to set the SMPs during higher demand periods.

This Study explores what account for the factors that promote regulatory reform for sustainable energy development. The findings suggest that policy decision makers' recognition and willingness significantly promotes regulatory reform for renewable energy and energy efficient use technology development. In addition, complicated procedures and environmental protection organizations substantially influence the regulatory reform for renewable energy development and varied network activities have significant impact on the regulatory reform for energy efficient use technology development as well. The final interesting findings are that economic conditions and private development organizations emphasized in conventional economic development are still significant in green economic development. Korean local governments need to pay attention to these finding to efficiently reform regulations for green economic development.