Do Regulation And Institutional Design Matter For Infrastructure Sector Performance ?

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 ser...

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Bibliographic Details
Main Author: Andres, Luis
Other Authors: Guasch, Jose Luis, Straub, Stephane
Format: eBook
Language:English
Published: Washington, D.C The World Bank 2007
Subjects:
Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
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100 1 |a Andres, Luis 
245 0 0 |a Do Regulation And Institutional Design Matter For Infrastructure Sector Performance ?  |h Elektronische Ressource  |c Andres, Luis 
260 |a Washington, D.C  |b The World Bank  |c 2007 
300 |a 56 p. 
653 |a Regulatory frameworks 
653 |a Private investment 
653 |a Privatization 
653 |a Private Participation in Infrastructure 
653 |a Private investments 
653 |a Financial returns 
653 |a Emerging Markets 
653 |a Infrastructure projects 
653 |a Sustainable Development 
653 |a Developing economies 
653 |a Infrastructure Economics and Finance 
653 |a Debt Markets 
653 |a Private Sector Development 
653 |a Gross domestic product 
653 |a Finance and Financial Sector Development 
653 |a Infrastructure Economics 
653 |a Infrastructure Regulation 
653 |a Private infrastructure 
700 1 |a Guasch, Jose Luis 
700 1 |a Andres, Luis 
700 1 |a Straub, Stephane 
041 0 7 |a eng  |2 ISO 639-2 
989 |b WOBA  |a World Bank E-Library Archive 
856 4 0 |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4378  |x Verlag  |3 Volltext 
082 0 |a 330 
520 |a 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