Regulatory Trade-Offs in the Design of Concession Contracts
AbstractThe paper discusses how conflicts between the multiple objectives of policymakers (efficiency, equity, fiscal, speed of reform, signaling...) can influence the optimal design of concessions contracts for network services in infrastructure. The discussion covers the relevance of information asymmetries of the optimal regulatory regime and processes, for the optimal design of awarding processes and for the optimal duration of the contracts. It also adresses the de sign of pricing in relation withthe universal service obligation. It concludes with an illustration of the preceding economic principles with some stylized facts from the liberalization experiment in Argentina.
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Bibliographic InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 97.462.
Length: 19 pages
Date of creation: 1997
Date of revision:
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REGULATION ; FINANCIAL MARKET;
Other versions of this item:
- Crampes, Claude & Estache, Antonio, 1998. "Regulatory trade-offs in the design of concession contracts," Utilities Policy, Elsevier, vol. 7(1), pages 1-13, March.
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
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