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Political considerations and fiscal regulation in a spatial duopoly
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Journal Article
Political considerations and fiscal regulation in a spatial duopoly
2024
Overview
We examine the impact of political orientation on fiscal regulation and product differentiation within a spatial duopoly. Using a modelling approach a la Hotelling, we explore how the regulator’s political stance -whether pro-consumer or pro-business- affects market outcomes through distinct optimal designs of fiscal intervention. We identify three regulatory profiles: (i) pro-consumer regulation with high tax rates leading to minimal product differentiation and lower prices; (ii) pro-business regulation with no taxation resulting in maximum product differentiation and higher prices, and (iii) moderate regulation, balancing the interests of firms and consumers, in which taxes can be moderate but the firms are not induced to follow the regulator’s designated levels of differentiation. Our findings highlight the significant role of political orientation in shaping market dynamics and regulatory effectiveness, emphasising the need to consider political factors and the balancing of various actors in policy design within spatial competition models. U ovom radu ispituje se utjecaj političke orijentacije na fiskalnu regulaciju i diferencijaciju proizvoda unutar prostornog duopola. Koristeći pristup modeliranja a la Hotelling, istražujemo kako političko stajalište regulatora – bilo da je usmjereno na potrošače ili poslovanje – utječe na tržišne rezultate kroz različite optimalne fiskalne intervencije. Identificirali smo tri regulatorna profila: (i) regulacija u korist potrošača s visokim poreznim stopama koje dovode do minimalne diferencijacije proizvoda i nižih cijena; (ii) pro-poslovna regulacija bez oporezivanja što rezultira maksimalnom diferencijacijom proizvoda i višim cijenama, i (iii) umjerena regulacija, koja balansira interese tvrtki i potrošača, u kojoj porezi mogu biti umjereni, ali tvrtke nisu stimulirane da slijede naznačene razine diferencijacije regulatora. Rezultati našeg istraživanja ističu značajnu ulogu političke orijentacije u oblikovanju tržišne dinamike i regulatorne učinkovitosti pritom naglašavajući potrebu razmatranja političkih čimbenika i balansiranja različitih aktera u kreiranju politike unutar modela prostornog natjecanja.
Publisher
Sveuciliste u Rijeci,Sveučilište u Rijeci, Ekonomski fakultet,Faculty of Economics University of Rijeka
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