Today or not today: Deregulating the Russian gas sector
Abstract Although Russia is the world's biggest producer of natural gas, its ability to maintain timely and reliable supply to meet the growing global demand has come under question in recent months. The gas war with Ukraine notwithstanding, concern has been raised by a number of observers that underinvestment in the gas sector will lead to a systemic failure of the state monopolist OAO Gazprom to increase or even maintain current levels of production. Yet with a quarter of European gas coming from Russia, and with increasing presence of Gazprom in European downstream operations (such as Germany, Hungary, and other CIS states) as well as seemingly closer ties with Algeria, another major supplier of gas to Europe, there has been a strong reaction from Europe's policy-makers to decrease dependence on Russian gas. Deregulating and liberalising the gas sector would see the lifting of restrictions to foreign or independent investors wishing to gain access to Russian reserves, as well as the unhindered access to the pipeline infrastructure and export markets. It would also signal the unbundling of Gazprom and an end to the artificially low price of gas to the domestic consumer. This paper discusses whether deregulation is the optimal way to raise capital, attract investment and increase supply security for Russia's Western neighbours. In doing so, the paper identifies the objectives of the EU as the importer whilst trying to align them with the objectives of the Russian Federation as the exporter, in the current political context.
Regulation of the firm and natural monopoly
The meaning and purpose of regulation regulation and natural monopoly regulation and the theory of the firm rate regulation schemes and their enforcement state control and its enforcement bidding schemes empirical assessment regulation and its alternatives.
Expansion without equity: An analysis of current policy on access to higher education in Brazil
Access to higher education in Brazil is to a large extent restricted to the higher socio-economic groups. Public universities have limited places and entry is determined by highly competitive exams, thereby excluding those who have not had a high quality secondary education or attended an expensive preparatory course. There has been considerable growth in the private sector to absorb the excess demand, but the majority of Brazilians cannot afford the fees. This paper develops a concept of equity in higher education in which, firstly, there should be sufficient places in the system as a whole and, secondly, all people should have a fair opportunity of attending the university of their choice regardless of socio-economic background. Recent efforts to expand access are analysed, including incentives for the growth of private universities, student loans and the new Prouni initiative, in which private institutions provide free places to low-income students in return for tax exemptions. While these initiatives have the potential to increase the total number of places, they will not lead to an equitable expansion, as disadvantaged students will still be confined to courses of lower quality or with lower subsequent value on the employment market. Initiatives aimed at the public sector such as the introduction of quotas and changes to entry examinations are also discussed. Finally, some implications for future policy development are outlined.