Thailand : Why Liberalization May Stall in a Mature Power Market
This review argues that, following the 1997 crisis, the proposed reform plan was helped by some particularly conducive country factors: a tough, but not paralyzing challenge, a quick return to macroeconomic stability, and, and influential reform ch...
| Main Author: | |
|---|---|
| Format: | ESMAP Paper |
| Language: | English en_US |
| Published: |
Washington, DC
2014
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2003/10/3022576/thailand-liberalization-may-stall-mature-power-market-review-technical-pollitical-economy-factors-constrained-electricity-sector-reform-thailand-1998-2002 http://hdl.handle.net/10986/19649 |
| Summary: | This review argues that, following the
1997 crisis, the proposed reform plan was helped by some
particularly conducive country factors: a tough, but not
paralyzing challenge, a quick return to macroeconomic
stability, and, and influential reform champion. However,
many sector factors worked against the plan, among these
were the sector's acceptable level of efficiency, and
consistent resistance by incumbent state-owned utilities,
and a biased reading of the international experience.
Although market liberalization was politically feasible, its
political desirability was weak. The report pays particular
attention to: 1) sequencing reform; 2) adapting and making
amends to the market model, but minimizing risks, and cost
of market failures in a developing country context; and, 3)
selling the reform, by improving perceptions of benefits and
costs, especially mitigating social impacts. Particularly
suggested is the interaction between the political economy,
and the technical design of reform, i.e., in order for
negotiations to arrive at a politically desirable, and
feasible roadmap, they must be subjected to a technical
scrutiny, that ensures that the final reform plan is sound. |
|---|