Regulatory Failure and Renewal: The Evolution of the Natural Monopoly Contract, Second Edition

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John R. Baldwin Stanley Winer

Regulatory Failure and Renewal

The Evolution of the Natural Monopoly Contract, Second Edition

John R. Baldwin, Stanley Winer, Ian Keay

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English

McGill-Queen's University Press
31 May 2022

Monopolies

Series: Carleton Library Series

Regulatory Failure and Renewal develops a framework to understand the choice of regulatory instrument used in Canada for natural monopolies such as telephone companies, water utilities, streetcars, hydroelectricity, and railways from the 1880s to the 1930s.

Using the transaction-cost literature pioneered by Oliver Williamson, John Baldwin examines the nature of contractual failure in Canada in natural monopoly cases, asking why initial forms of contracts between the state and private enterprise failed and why this failure so often resulted in the use of public enterprise. Baldwin outlines early attempts to deal with natural monopolies – from the use of a franchise contract to regulatory tribunals and finally to public enterprise – and compares Canadian experiences to US approaches, which turned more frequently to regulatory tribunals. This difference is due to Canada’s more limited constraints on the state’s ability to exercise coercive power, which sometimes leads to contractual failure that results in replacing franchise and regulatory frameworks with public enterprise.

Regulatory Failure and Renewal demonstrates that public enterprise arose not so much as part of a purposive choice but because of reoccurring failures in the contractual process between the Canadian state and private enterprise.

By: John R. Baldwin
Foreword by: Stanley Winer
Introduction by: Ian Keay
Imprint: McGill-Queen's University Press
Country of Publication: Canada
Edition: Second edition
Dimensions: Height: 267mm, Width: 206mm,
ISBN: 9780228011828
ISBN 10: 0228011825
Series: Carleton Library Series
Pages: 168
Publication Date: 31 May 2022
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active

John R. Baldwin taught in the economics department at Queen’s University, worked at the Economic Council of Canada, and is the former head of the Economic Analysis Research Group at Statistics Canada.