| This paper focuses on an exploration of public utility regulation and itsinstitutional evolution in the United States with the aim of providing theoretical references for China's public utility regulatory reform. The thesis is divided into 3 parts with a total of 8 chapters. In it the author presents the development of his thought process on the subject through the use of 3 methodologies. Further he tries to develop a dialogue relationship in 3 different contexts - (1) develop a dialogue relation in a "theoretical context" between economics and law under the subject of public utility regulation through economic analysis; (2) develop a dialogue relation in an "institutional context" between historical and modern regulatory practices under the subject of public utility regulation through comparative analysis; (3) develop a dialogue relation in "Chinese context" between theoretical legal theory and applied legal theory under the subject of public utility regulation through positive analysis. With "subject", "methodology", "context" and "dialogue" in mind, the readers can better understand the author's presentation.The First Part, "General Theories on Public Utility Regulation", contains 2 chapters - "A General Analysis on Public Utilities and Their Regulation" and "A Probe into Basic Theories of Public Utility Regulation". The author starts with definitions, sector and economic features, the social and economic significance of public utilities and their regulation, and generally analyzes the structure, function and history of public utility regulation. Noting the different definitions given to regulation from various perspectives, the author arrives at his own definition of regulation. Then the paper moves on to regulatory theories of which public interest theory and natural monopoly theory are most representative. The author offers a critique of those views regarding natural monopoly as a precondition for regulation, which is still widely accepted and points out that the regulation of public utilities originates not from the theoretical consideration of natural monopoly but from a concern for the public interest. Regulation should be targeted at monopoly behavior rather than at monopoly structure. The chapter also presents basic features of "capture theory" by Stigler and theoretical establishments by Posner, Peltzman, Becker, etc. and analyzes therelationship between "regulation under an institution" and "an institution within regulation" based on neo-institutional theories. The author also presents his own conclusions with reference to institutional arrangement and economic rational as a result of studying American law and economics.The Second Part, "A Study of American Public Utility Regulation", contains 3 chapters - "Institutional Evolution of American Public Utility Regulation", "American Regulatory Agencies, Procedures and Contents" and "The Reform and Institutional Innovation of American Public Utility Regulation". After briefly reviewing the early origins of American public utility regulation, its popularity during "New Deal" of 1930's and the relevant social, political economic and academic environments of the time, the author moves to the legislation of public utility regulation, including the legal basis of regulation, the constitutional provisions delegating or restricting regulatory powers, the legal interpretations by courts, the settlements of legal disputes, basic legal obligations and rights of utility companies, legal objectives of public utility regulation, legislative features, regulatory reform and practices in judicial review and the reviewing of economic rational of regulatory legislations. Then the author presents the history of independent regulatory commissions, their structures, functions, legal status and regulatory procedures and analyzes from both the economic and social perspectives the entry-exist regulation and rate regulation, together with environmental, sanitary, safety and health regulations. In the last chapter of this part, the author introduces new regulat...
|
PDF Full Text Request