Jarrell (1978) found that electricity prices rose in states that adopted state regulation before 1917, suggesting that regulators were "captured" by the interests of the regulated electric utilities. An alternative explanation is that state regulation more credibly protected specialized utility...

We measure firm-level productivity changes in the Indian electricity sector during a period that witnessed several pro-market regulatory changes. Using information collected from multiple sources we construct a unique panel of generating firms and transmission and distribution utilities spanning...