Regulatory Governance in Brazilian Infrastructure Industries

The impact of regulation on the economic performance of regulated sectors depends crucially on the appropriateness of the design of the regulatory agencies' structure and process, that is, on regulatory governance. Governance refers not to the policies that emerge from regulation, but rather to...

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Main Authors:	Correa, Paulo, Melo, Marcus, Mueller, Bernardo, Pereira, Carlos
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Economics of Regulation L510 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170
Online Access:	http://hdl.handle.net/10986/5546

id	okr-10986-5546
recordtype	oai_dc
spelling	okr-10986-55462021-04-23T14:02:22Z Regulatory Governance in Brazilian Infrastructure Industries Correa, Paulo Melo, Marcus Mueller, Bernardo Pereira, Carlos National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Economics of Regulation L510 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170 The impact of regulation on the economic performance of regulated sectors depends crucially on the appropriateness of the design of the regulatory agencies' structure and process, that is, on regulatory governance. Governance refers not to the policies that emerge from regulation, but rather to the 'inputs' that go into the regulatory process. The current interest in regulatory governance has created the need for a measure to allow comparison among agencies and sectors, as well as over time. Given that there is no obvious way of measuring governance, one solution is to build an index that captures the essence of the concept by translating observable attributes of the regulatory agency and its environment into a number ranging from 0 to 1 (low-to-high quality governance). This paper presents such an index for 21 infrastructure regulatory agencies (federal and state) in Brazil in 2005. This index was based data collected by the authors through questionnaires applied to high-ranking officials at the regulatory agencies. The main index is composed of four sub-indexes that capture issues related to autonomy, decision-making process, tools for effective decision making and accountability. The results show that regulatory governance is relatively similar among the 21 agencies, with better results at the federal than at the state level. In addition it was found that formal attributes do not always translate into effective governance. Of the four dimensions of regulatory governance, the autonomy and accountability were, on average, more developed than decision-making process and regulatory tools. 2012-03-30T07:33:21Z 2012-03-30T07:33:21Z 2008 Journal Article Quarterly Review of Economics and Finance 10629769 http://hdl.handle.net/10986/5546 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Brazil
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Economics of Regulation L510 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170
spellingShingle	National Government Expenditures and Related Policies: Infrastructures Other Public Investment and Capital Stock H540 Economics of Regulation L510 Formal and Informal Sectors Shadow Economy Institutional Arrangements O170 Correa, Paulo Melo, Marcus Mueller, Bernardo Pereira, Carlos Regulatory Governance in Brazilian Infrastructure Industries
geographic_facet	Brazil
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	The impact of regulation on the economic performance of regulated sectors depends crucially on the appropriateness of the design of the regulatory agencies' structure and process, that is, on regulatory governance. Governance refers not to the policies that emerge from regulation, but rather to the 'inputs' that go into the regulatory process. The current interest in regulatory governance has created the need for a measure to allow comparison among agencies and sectors, as well as over time. Given that there is no obvious way of measuring governance, one solution is to build an index that captures the essence of the concept by translating observable attributes of the regulatory agency and its environment into a number ranging from 0 to 1 (low-to-high quality governance). This paper presents such an index for 21 infrastructure regulatory agencies (federal and state) in Brazil in 2005. This index was based data collected by the authors through questionnaires applied to high-ranking officials at the regulatory agencies. The main index is composed of four sub-indexes that capture issues related to autonomy, decision-making process, tools for effective decision making and accountability. The results show that regulatory governance is relatively similar among the 21 agencies, with better results at the federal than at the state level. In addition it was found that formal attributes do not always translate into effective governance. Of the four dimensions of regulatory governance, the autonomy and accountability were, on average, more developed than decision-making process and regulatory tools.
format	Journal Article
author	Correa, Paulo Melo, Marcus Mueller, Bernardo Pereira, Carlos
author_facet	Correa, Paulo Melo, Marcus Mueller, Bernardo Pereira, Carlos
author_sort	Correa, Paulo
title	Regulatory Governance in Brazilian Infrastructure Industries
title_short	Regulatory Governance in Brazilian Infrastructure Industries
title_full	Regulatory Governance in Brazilian Infrastructure Industries
title_fullStr	Regulatory Governance in Brazilian Infrastructure Industries
title_full_unstemmed	Regulatory Governance in Brazilian Infrastructure Industries
title_sort	regulatory governance in brazilian infrastructure industries
publishDate	2012
url	http://hdl.handle.net/10986/5546
_version_	1764395440538648576

Regulatory Governance in Brazilian Infrastructure Industries

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