Title: The impact of deregulation in the hydrocarbon sector: evidence at the main Spanish ports of import of hydrocarbons (1986-2013)

Authors: Pablo Coto-Millán; Marta De La Fuente; Xosé Luís Fernández; Miguel Ángel Pesquera

Addresses: Economic Analysis, University of Cantabria, Avda. De Los Castros s/n, C.P., 39005 Santander, Cantabria, Spain ' Economic Analysis, University of Cantabria, Avda. De Los Castros s/n, C.P., 39005 Santander, Cantabria, Spain ' Economic Analysis, University of Cantabria, Avda. De Los Castros s/n, C.P., 39005 Santander, Cantabria, Spain ' Transports, University of Cantabria, Avda. De Los Castros s/n, C.P., 39005 Santander, Cantabria, Spain

Abstract: This study evaluates the impact of deregulation and the introduction of competition in the hydrocarbon sector on the efficiency of 11 Spanish ports of import of hydrocarbons. To this end, using stochastic frontier analysis (SFA), an input-oriented distance model has been estimated for the 1986-2013 period. This paper contributes to the literature by establishing a direct correlation between the hydrocarbons' reforms and the change in port efficiency. The main conclusion was that Law 15/1992 and Law 34/1998 focused on the deregulation and the introduction of competition in the field of hydrocarbons have had a positive impact on the efficiency of the main Spanish ports of import of hydrocarbons.

Keywords: deregulation; competition; hydrocarbons; technical efficiency; stochastic frontier analysis; SFA; Spanish ports; decentralisation; over-capacity; over-investment.

DOI: 10.1504/IJSTL.2019.096865

International Journal of Shipping and Transport Logistics, 2019 Vol.11 No.1, pp.41 - 59

Received: 20 Jul 2017
Accepted: 18 Dec 2017
Published online: 12 Dec 2018 *