Download file to see previous pages...
In fact, before these far-reaching reforms, telecommunication service provision remained a monopoly of state corporations or in rare cases, was monopolized by private entities. Due to the fact that the provider of telecommunication services in most cases was the government, the regulation of this sector was never quite independent since, all the policy-making and regulatory powers lay with the government and its agencies (Welfens, 2010). Therefore, the management of telecommunication frequencies and the responsibility of operating networks were a preserve of the government of the day (Davidson et al., 1986). For many developed countries, this classical approach to ICT management was quite profitable for some time, given that the increased international tariffs for telecommunication services covered for the subsidized local tariffs. In addition, with the decreased telecommunication cost that resulted from technological advances, the classical approach to ICT operations did well for most developed countries (Welfens, 2010). Unfortunately for the developing and the underdeveloped countries and regions, the classical approach to ICT operation did not work well. The reason for this scenario being that these countries’ networks were somehow restricted to major cities and towns, implying that only the middle and high socioeconomic status citizens could access and utilise ICT services in these countries. While the low socioeconomic status citizen had to make do with poor quality telecommunication services and long waiting lists, the high-income end of the population were advantaged by the cross-subsidisation of ICT prices (Welfens, 2010). Regrettably, the classical approach to ICT regulation did not generate investment income for the developed and the developing countries alike. During the 1980s and the 1990s, the role of telecommunication in the economic growth of countries and the entire world became rather apparent, leading to the development of a number of regulatory and competition polices, even though to a limited extent, in many countries (Koops et al., 2006). Besides, regulating competition, the regulatory and competition policies were expected to instill dynamism, innovativeness, augment availability, accessibility and increase ICT choices and lower tariffs for customers. The first effect of the wave of ICT reforms that peaked in the 1990s was the privatisation of telecommunication service operators. The second effect of the ICT regulatory policies was the introduction of new varieties of services such as mobile telephony and value-added services (Koops et al., 2006). This paper thus explores the need for the regulation of ICT, whether regulation works in the interests of the public and the implications of convergence and innovation on ICT regulation. The Importance of Regulation That the core role of regulation in any industry is to enable sustainability, growth and development is quite apparent and cannot be overemphasized. Therefore, the information and communication technology sector, like the other sectors of an economy, requires a strong legal framework and regulatory mechanisms to function for the betterment of the public. A number of reasons have since been identified to underlie the need for the regulation of information communication and technology. Generally, ICT the need for ICT regulation arises from the recently observed structural changes in the communication industry. The transformation of the industry from a monopoly to a competitive one in many a country has particularly necessitated its stronger regulation (Baldwin et al., 2012). Therefore, the regulation of the ICT sector has been particularly important in the creation of an effective environment for fair competition that supports both
...Download file to see next pagesRead More
Many firms pollute the environment in the course of their production; this gives rise to negative externality to the society. A negative externality is an additional cost to the society due production activities of the firm, since many individual belief that stormwater is clean for human consumption, therefore, if an individual consume this water which combined with water that has been used to clean machines and equipment then there are likely to get sick.
The research would be largely based on theory but I will also try to prove my point through examples and empirical evidence. I will start with the building of concept first about economic regulations and then will discuss various aspects of it in detail. This includes theories of economic regulations and Competition policy.
Essay on Regulatory Theory Essay on Regulatory Theory Many state owned telecom units were privatized during last 10-20 years and the sector was set free in most part of the world when it was necessary in view of the advancement in science and technology. Since then as a natural consequence, the telecommunication sector throughout the world has undergone a major change in its structure from the erstwhile monopolistic regime to the one made of competitive forces.
In the modern global world, regulatory measures are very significant in defining the production process to ensure quality product development as well as establishing a fair competing field. To this effect, the federal government and other relevant bodies reserve the right of devising and ensuring compliance to the set regulatory measures.
The Federal Banking Supervisory Office of West Germany cancelled the banking license of Bankhaus Herstatt when they discovered that the bank had foreign exchange exposures that were three times to its capital. Due to this act of the central bank, many banks had to suffer huge losses on their pending trades with Herstatt triggering a cascading effect in the banking sector.
This paper will therefore discuss the theoretical foundation of states regulatory response to the financial crisis taking into account how these theories have been applied in different countries like the United States, United Kingdom and Poland.
elve into the operations of News Corp and its group companies in Britain to understand whether the intervention of a regulatory body is at all necessary in this acquisition and what are the issues involved in this takeover that may affect the nation and its citizens.
You may be interested in learning more about how regulation ensures that nursing achieves this objective. In a world that is constantly changing, how does nursing keep its place as one of the most trusted