By Ioannis Kessides
Hungary used to be one of many first international locations in primary and jap Europe to embark on financial transition. It has additionally led the quarter when it comes to the restructuring and privatization of the infrastructure sectors—electricity, fuel, and telecommunications. in reality, while negotiations over accession into the ecu started, Hungary's institutional and structural framework used to be reminiscent of, if no longer sooner than, that of so much ecu international locations. although, even a good technique of reform offers a few possibilities for extra advancements, specially as new info and adventure gather. This file: • presents a diagnostic evaluation of modern and ongoing structural and regulatory reforms in Hungary's infrastructure sectors-electricity, oil and gasoline, and telecommunications; • Identifies priorities for added aggressive restructuring and regulatory deregulate measures, their anticipated affects, and rules designed to lessen the transition charges of deregulation and marketplace liberalization; • Assesses the growth made towards compliance with the eu Union (EU) accession specifications and determine components that will make the most of particular consciousness to speed up the transition to a liberalized regime; • Identifies the key regulatory concerns that must be addressed within the medium time period via the Hungarian regulatory enterprises and recommend a method for addressing those matters. This quantity might be of curiosity to financial institution employees, policymakers, and global financial institution purchaser nations.
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Additional info for Hungary: A Regulatory and Structural Review of Selected Infrastructure Sectors (World Bank Technical Paper)
Electricity, gas, and telecommunications are vertical industries characterized by transportation and distribution networks, linking upstream production with downstream consumption. These networks consist of a hierarchy of transmission links in electricity; national pipelines, and regional distributional links in gas; transmission media; switching centers; and the local loop (the final mile) in telecommunications. Infrastructure networks entail substantial fixed costs that are largely sunk because the assets are of minimal value for other purposes.
00 HUF per kWh. 3 These estimates are only rough approximations at best, given the inherent difficulties of allocating fixed and common costs in any nonarbitrary way that is unique and has a strong foundation in economic logic. Page 9 billing and collecting. The Hungarian GDCs rely on manually read meters and door-to-door collection, both of which are more costly. Providing a service below its cost invariably distorts decisionmaking and reduces the allocative efficiency of a market. If residential customers are offered gas service at a subsidized rate, some will choose gas service over an alternative method of meeting their needs when gas service is actually more costly than the alternative.
The report’s specific focus on the structural and governance issues of the infrastructure sectors is motivated by several factors. First, it is widely recognized that the efficient functioning of these sectors is vital to sustained economic growth and international competitiveness. The infrastructure sectors provide services that are critical inputs in manufacturing, transportation, and commerce. They also provide services that are essential to boosting economic activity and increasing competition through the expansion of product lines and geographic spheres of distribution.
Hungary: A Regulatory and Structural Review of Selected Infrastructure Sectors (World Bank Technical Paper) by Ioannis Kessides