Relying on Expert Panels to Help Settle Regulatory Disputes : Lessons from Chilean Experience

Abstract

Starting in the 1980s Chile initiated wide-ranging economic reforms, paving the way for private sector involvement in major infrastructure sectors. With these reforms came new regulatory rules, institutions, and processes to manage the interests and expectations of such diverse stakeholders as the government, consumers, and service providers. One innovative feature is the use of expert panels -- specialized, independent, ad hoc entities affiliated with neither the government nor the sector regulator -- to resolve disputes arising from regulatory decisions. The Chilean experience with these panels offers useful lessons for policymakers.