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  • 1
    Online Resource
    Online Resource
    Do Regulation And Institutional Design Matter For Infrastructure Sector Performance ? (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Andres, Luis Do Regulation And Institutional Design Matter For Infrastructure Sector Performance ?
    Keywords: Debt Markets ; Developing economies ; Emerging Markets ; Finance and Financial Sector Development ; Financial returns ; Gross domestic product ; Infrastructure Economics ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Infrastructure projects ; Private Participation in Infrastructure ; Private Sector Development ; Private infrastructure ; Private investment ; Private investments ; Privatization ; Regulatory frameworks ; Sustainable Development ; Debt Markets ; Developing economies ; Emerging Markets ; Finance and Financial Sector Development ; Financial returns ; Gross domestic product ; Infrastructure Economics ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Infrastructure projects ; Private Participation in Infrastructure ; Private Sector Development ; Private infrastructure ; Private investment ; Private investments ; Privatization ; Regulatory frameworks ; Sustainable Development ; Debt Markets ; Developing economies ; Emerging Markets ; Finance and Financial Sector Development ; Financial returns ; Gross domestic product ; Infrastructure Economics ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Infrastructure projects ; Private Participation in Infrastructure ; Private Sector Development ; Private infrastructure ; Private investment ; Private investments ; Privatization ; Regulatory frameworks ; Sustainable Development
    Abstract: This paper evaluates the impact of economic regulation on infrastructure sector outcomes. It tests the impact of regulation from three different angles: aligning costs with tariffs and firm profitability; reducing opportunistic renegotiation; and measuring the effects on productivity, quality of service, coverage, and prices. The analysis uses an extensive data set of about 1,000 infrastructure concessions granted in Latin America from the late 1980s to the early 2000s. The analysis finds that as the theory indicates, regulation matters. The empirical work here reported shows that in three relevant economic aspects-aligning costs and tariffs; dissuading renegotiations; and improving productivity, quality of service, coverage, and tariffs-the structure, institutions, and procedures of regulation matter. Thus, significant efforts should continue to be made to improve the structure, quality, and institutionality of regulation. Regulation matters for protecting both consumers and investors, for aligning closely financial returns and the costs of capital, and for capturing higher levels of benefits from the provision of infrastructure services by the private sector
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Assessing The Governance of Electricity Regulatory Agencies In The Latin American And The Caribbean Region : A Benchmarking Analysis (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (57 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Andres, Luis Assessing The Governance of Electricity Regulatory Agencies In The Latin American And The Caribbean Region
    Keywords: Accountability ; Banks and Banking Reform ; Country Strategy and Performance ; Disclosure ; Good Governance ; Governance ; Governance Indicators ; Governance Indicators ; Institutional Arrangements ; Institutional Development ; Judiciary ; Macroeconomics and Economic Growth ; National Governance ; Public Sector Corruption and Anticorruption Measures ; Regulatory Policies ; Regulatory Policy ; Transparency ; Accountability ; Banks and Banking Reform ; Country Strategy and Performance ; Disclosure ; Good Governance ; Governance ; Governance Indicators ; Governance Indicators ; Institutional Arrangements ; Institutional Development ; Judiciary ; Macroeconomics and Economic Growth ; National Governance ; Public Sector Corruption and Anticorruption Measures ; Regulatory Policies ; Regulatory Policy ; Transparency ; Accountability ; Banks and Banking Reform ; Country Strategy and Performance ; Disclosure ; Good Governance ; Governance ; Governance Indicators ; Governance Indicators ; Institutional Arrangements ; Institutional Development ; Judiciary ; Macroeconomics and Economic Growth ; National Governance ; Public Sector Corruption and Anticorruption Measures ; Regulatory Policies ; Regulatory Policy ; Transparency
    Abstract: This paper focuses on an evaluation and benchmarking of the governance of regulatory agencies in the electricity sector in Latin American Countries (LAC). Using a unique database, we develop an index of regulatory governance and rank all the agencies in the LAC countries. The index is an aggregate number of the evaluation of four key governance characteristics: autonomy, transparency, accountability, and regulatory tools, including not only formal aspects of regulation but also indicators related to actual implementation. Based on 18 different indexes, we analyze the positions of agencies with regard to different aspects of their regulatory governance, considering not only performance in each variable but also scores in the different components of each category. This evaluation allows for the identification of particular country shortcomings regarding governance, and indicates needed improvements. Although the region shows an overall good governance design of their regulatory agencies, the implementation of the independent regulator model still faces several challenges. This is particularly evident in political autonomy and in the informal aspects of governance, where the region shows the largest number of countries with the lowest scores. Trinidad and Tobago and Brazil show the best results and Ecuador, Honduras, and Chile the poorest performances. The rest of the countries vary according to the different indexes. We give each governance variable equal weights and positively test the robustness of our approach using Principal Component Analysis
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Regulatory Governance And Sector Performance : Methodology And Evaluation For Electricity Distribution In Latin America (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Andres, Luis Regulatory Governance And Sector Performance
    Keywords: Accountability ; Banks and Banking Reform ; Disclosure ; Emerging Markets ; Governance ; Governance Indicators ; Governance indicators ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Institutional development ; Judiciary ; Legal framework ; National Governance ; Private Sector Development ; Regulatory agency ; Regulatory instruments ; Regulatory policy ; Transparency ; Accountability ; Banks and Banking Reform ; Disclosure ; Emerging Markets ; Governance ; Governance Indicators ; Governance indicators ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Institutional development ; Judiciary ; Legal framework ; National Governance ; Private Sector Development ; Regulatory agency ; Regulatory instruments ; Regulatory policy ; Transparency ; Accountability ; Banks and Banking Reform ; Disclosure ; Emerging Markets ; Governance ; Governance Indicators ; Governance indicators ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Institutional development ; Judiciary ; Legal framework ; National Governance ; Private Sector Development ; Regulatory agency ; Regulatory instruments ; Regulatory policy ; Transparency
    Abstract: This paper contributes to the literature that explores the link between regulatory governance and sector performance. The paper develops an index of regulatory governance and estimates its impact on sector performance, showing that indeed regulation and its governance matter. The authors use two unique databases: (i) the World Bank Performance Database, which contains detailed annual data for 250 private and public electricity companies in Latin America and the Caribbean; and (ii) the Electricity Regulatory Governance Database, which contains data on several aspects of the governance of electricity agencies in the region. The authors run different models to explain the impacts of change in ownership and different characteristics of the regulatory agency on the performance of the utilities. The results suggest that the mere existence of a regulatory agency, regardless of the utilities' ownership, has a significant impact on performance. Furthermore, after controlling for the existence of a regulatory agency, the ownership dummies are still significant and with the expected signs. The authors propose an experience measure in order to identify the gradual impact of the regulatory agency on utility performance. The results confirm this hypothesis. In addition, the paper explores two different measures of governance, an aggregate measure of regulatory governance, and an index based on principal components, including autonomy, transparency, and accountability. The findings show that the governance of regulatory agencies matters and has significant effects on performance
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    MPI Ethno. Forsch.
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