Publication:
Do Regulation and Institutional Design Matter for Infrastructure Sector Performance?

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dc.contributor.authorStraub, Stephane
dc.contributor.authorAndres, Luis
dc.contributor.authorGuasch, Jose Luis
dc.date.accessioned2012-06-08T19:00:12Z
dc.date.available2012-06-08T19:00:12Z
dc.date.issued2007-10
dc.description.abstractThis 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/10/8522916/regulation-institutional-design-matter-infrastructure-sector-performance
dc.identifier.doi10.1596/1813-9450-4378
dc.identifier.urihttps://hdl.handle.net/10986/7564
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4378
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABUSE OF MONOPOLY POWER
dc.subjectARBITRATION
dc.subjectARBITRATION BODY
dc.subjectAUCTION
dc.subjectAUCTION PROCEDURE
dc.subjectAUCTIONS
dc.subjectBANK POLICY
dc.subjectBARRIER
dc.subjectBENEFICIARY
dc.subjectBID
dc.subjectBUREAUCRATIC QUALITY
dc.subjectCHECKS
dc.subjectCLAIMANT
dc.subjectCOMPANY
dc.subjectCOMPETITIVE PRESSURE
dc.subjectCONCESSION
dc.subjectCONCESSION CONTRACT
dc.subjectCONCESSION CONTRACTS
dc.subjectCONCESSION PROJECTS
dc.subjectCONSUMER PROTECTION
dc.subjectCONTRACT DESIGN
dc.subjectCONTRACT RENEGOTIATION
dc.subjectCONTRACT RENEGOTIATIONS
dc.subjectCONTRACT RENEWAL
dc.subjectCOST OF CAPITAL
dc.subjectCOST SAVINGS
dc.subjectCOSTS OF CAPITAL
dc.subjectCURRENCY
dc.subjectDEVALUATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING ECONOMIES
dc.subjectDEVELOPMENT BANK
dc.subjectDIVESTITURE
dc.subjectDOLLAR PRICES
dc.subjectDUMMY VARIABLES
dc.subjectECONOMIC REGULATION
dc.subjectELECTRICITY DISTRIBUTION
dc.subjectELECTRICITY INDUSTRY
dc.subjectELECTRICITY OUTCOMES
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEMPIRICAL EVIDENCE
dc.subjectEMPLOYMENT
dc.subjectENFORCEMENT OF CONTRACTS
dc.subjectENTERPRISE PERFORMANCE
dc.subjectEXCHANGE RATE
dc.subjectEXPANSION
dc.subjectFINANCIAL CAPACITY
dc.subjectFINANCIAL RETURNS
dc.subjectFINANCIAL STATEMENTS
dc.subjectFIRM PERFORMANCE
dc.subjectFOREIGN FIRMS
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN OWNERSHIP
dc.subjectFUTURE PRICES
dc.subjectGENERATION
dc.subjectGOVERNANCE ARRANGEMENTS
dc.subjectGOVERNMENT BUDGET
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectIMPACT OF REGULATION
dc.subjectINCOME
dc.subjectINDEPENDENT REGULATORS
dc.subjectINDEPENDENT REGULATORY
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE CONCESSIONS
dc.subjectINFRASTRUCTURE CONTRACT
dc.subjectINFRASTRUCTURE CONTRACT RENEGOTIATION
dc.subjectINFRASTRUCTURE CONTRACTS
dc.subjectINFRASTRUCTURE INDUSTRIES
dc.subjectINFRASTRUCTURE PROJECTS
dc.subjectINFRASTRUCTURE SECTOR
dc.subjectINFRASTRUCTURE SECTORS
dc.subjectINTERNAL RATE OF RETURN
dc.subjectINTERNATIONAL BANK
dc.subjectINVESTMENT INCENTIVES
dc.subjectINVESTMENT REQUIREMENTS
dc.subjectJURISDICTION
dc.subjectLABOR REDUNDANCY
dc.subjectLATIN AMERICAN
dc.subjectLEGAL FOUNDATION
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL INSTRUMENT
dc.subjectLEVY
dc.subjectLOCAL CURRENCY
dc.subjectLOCAL INVESTORS
dc.subjectMACROECONOMIC DATA
dc.subjectMARKET CONDITIONS
dc.subjectMARKET DATA
dc.subjectMONOPOLIES
dc.subjectMONOPOLY
dc.subjectOPPORTUNISTIC BEHAVIOR
dc.subjectOUTPUT
dc.subjectOUTPUTS
dc.subjectPERFORMANCE OUTCOMES
dc.subjectPRICE ADJUSTMENTS
dc.subjectPRICE CAP
dc.subjectPRICE CAP REGULATION
dc.subjectPRICE CAPS
dc.subjectPRICE CRITERIA
dc.subjectPRICE FOR WATER
dc.subjectPRICE INCREASES
dc.subjectPRICE REDUCTIONS
dc.subjectPRICE REGULATION
dc.subjectPRIVATE FINANCING
dc.subjectPRIVATE FIRM
dc.subjectPRIVATE INFRASTRUCTURE
dc.subjectPRIVATE INFRASTRUCTURE PROJECTS
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTMENTS
dc.subjectPRIVATE OPERATORS
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR FINANCING
dc.subjectPRIVATE SECTOR PARTICIPATION
dc.subjectPRIVATIZATION
dc.subjectPRIVATIZATION CONTRACTS
dc.subjectPRIVATIZATION PROCESS
dc.subjectPRIVATIZATIONS
dc.subjectPROVISION OF INFRASTRUCTURE
dc.subjectPROVISION OF INFRASTRUCTURE SERVICES
dc.subjectPUBLIC ASSETS
dc.subjectPUBLIC BUDGET
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SECTOR
dc.subjectQUALITY MEASURES
dc.subjectQUALITY OF SERVICE
dc.subjectQUALITY REGULATION
dc.subjectRATE OF RETURN
dc.subjectRATE OF RETURN REGULATION
dc.subjectRATES OF RETURN
dc.subjectREGULATION SCHEMES
dc.subjectREGULATOR
dc.subjectREGULATORS
dc.subjectREGULATORY AGENCY
dc.subjectREGULATORY BODIES
dc.subjectREGULATORY BODY
dc.subjectREGULATORY COMMISSION
dc.subjectREGULATORY COMMISSIONS
dc.subjectREGULATORY DECISIONS
dc.subjectREGULATORY EFFECTIVENESS
dc.subjectREGULATORY ENVIRONMENT
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY FRAMEWORKS
dc.subjectREGULATORY GOVERNANCE
dc.subjectREGULATORY GOVERNANCE ARRANGEMENTS
dc.subjectREGULATORY IMPLICATIONS
dc.subjectREGULATORY INFRASTRUCTURE
dc.subjectREGULATORY PROCESS
dc.subjectREGULATORY REFORMS
dc.subjectREGULATORY REGIME
dc.subjectREGULATORY REGIMES
dc.subjectREGULATORY REVIEW
dc.subjectREGULATORY RISKS
dc.subjectREGULATORY RULES
dc.subjectREGULATORY STRUCTURE
dc.subjectREGULATORY VARIABLES
dc.subjectRENEGOTIATION
dc.subjectRENEGOTIATION PROCESS
dc.subjectRENEGOTIATIONS
dc.subjectRETURN REGULATION
dc.subjectRISK PREMIUM
dc.subjectRISK TRANSFER
dc.subjectRULE OF LAW
dc.subjectSANITATION
dc.subjectSAVINGS
dc.subjectSERVICE DISRUPTION
dc.subjectSERVICE EXPANSION
dc.subjectSERVICE QUALITY
dc.subjectSOCIAL COSTS
dc.subjectSPONSORS
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectTARIFF REGULATION
dc.subjectTELECOMMUNICATIONS
dc.subjectTOLL
dc.subjectTOLL ROAD
dc.subjectTOLL ROAD PROGRAM
dc.subjectTRANSFER OF ASSETS
dc.subjectTRANSITION PERIODS
dc.subjectTRANSPARENCY
dc.subjectTRANSPORTATION
dc.subjectTRINIDAD AND TOBAGO
dc.subjectUNDERLYING ASSETS
dc.subjectUTILITIES
dc.subjectVOLATILITY
dc.subjectWATER CONCESSIONS
dc.subjectWATER DISTRIBUTION
dc.titleDo Regulation and Institutional Design Matter for Infrastructure Sector Performance?en
dspace.entity.typePublication
okr.crossref.titleDo Regulation And Institutional Design Matter For Infrastructure Sector Performance ?
okr.date.doiregistration2025-04-10T10:17:37.519561Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2007/10/8522916/regulation-institutional-design-matter-infrastructure-sector-performance
okr.globalpracticeTransport and ICT
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid926451468321860546
okr.identifier.doi10.1596/1813-9450-4378
okr.identifier.externaldocumentum000158349_20071018104628
okr.identifier.internaldocumentum8522916
okr.identifier.reportWPS4378
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/10/18/000158349_20071018104628/Rendered/PDF/wps4378.pdfen
okr.topicInfrastructure Economics and Finance::Infrastructure Regulation
okr.topicPrivate Sector Development::Emerging Markets
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicInfrastructure Economics and Finance::Private Participation in Infrastructure
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication5e24cc05-1fcb-56fb-8bcc-021bbf7e50b0
relation.isAuthorOfPublication4cc9b022-436f-51a0-b40d-6c4438bbced2
relation.isAuthorOfPublication.latestForDiscovery5e24cc05-1fcb-56fb-8bcc-021bbf7e50b0
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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