TY - JOUR
T1 - Privatisation and Efficiency in the UK Water Industry
T2 - An Empirical Analysis
AU - Hunt, Lester C.
AU - Lynk, Edward L.
PY - 1995
Y1 - 1995
N2 - The post‐privatisation structure of the UK water industry involves the separation of environmental services from other outputs previously produced under an integrated system by the publicly‐owned water authorities. This paper examines the extent to which the integrated authorities benefitted from joint production. Estimating a dynamic multi‐product cost function from pooled cross‐section, time‐series quality adjusted data drawn from the accounts of the water authorities for the period 1979/80–1987/88, prior to privatisation, significant elements of joint production are found. Divestiture of the industry, arguably justified on other criteria, implies the loss of substantial areas of cost complimentary.
AB - The post‐privatisation structure of the UK water industry involves the separation of environmental services from other outputs previously produced under an integrated system by the publicly‐owned water authorities. This paper examines the extent to which the integrated authorities benefitted from joint production. Estimating a dynamic multi‐product cost function from pooled cross‐section, time‐series quality adjusted data drawn from the accounts of the water authorities for the period 1979/80–1987/88, prior to privatisation, significant elements of joint production are found. Divestiture of the industry, arguably justified on other criteria, implies the loss of substantial areas of cost complimentary.
UR - http://www.scopus.com/inward/record.url?scp=84981566820&partnerID=8YFLogxK
U2 - 10.1111/j.1468-0084.1995.mp57003006.x
DO - 10.1111/j.1468-0084.1995.mp57003006.x
M3 - Article
AN - SCOPUS:84981566820
SN - 0305-9049
VL - 57
SP - 371
EP - 388
JO - Oxford Bulletin of Economics and Statistics
JF - Oxford Bulletin of Economics and Statistics
IS - 3
ER -