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Assessing the governance of electricity regulatory agencies in the Latin American and the Caribbean region : a benchmarking analysis

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  • Andres, Luis
  • Guasch, Jose Luis
  • Diop, Makhtar
  • Azumendi, Sebastian Lopez
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    Abstract

    This paper focuses on an evaluation and benchmarking of the governance of regulatory agencies in the electricity sector in Latin American Countries (LAC). Using a unique database, we develop an index of regulatory governance and rank all the agencies in the LAC countries. The index is an aggregate number of the evaluation of four key governance characteristics: autonomy, transparency, accountability, and regulatory tools, including not only formal aspects of regulation but also indicators related to actual implementation. Based on 18 different indexes, we analyze the positions of agencies with regard to different aspects of their regulatory governance, considering not only performance in each variable but also scores in the different components of each category. This evaluation allows for the identification of particular country shortcomings regarding governance, and indicates needed improvements. Although the region shows an overall good governance design of their regulatory agencies, the implementation of the independent regulator model still faces several challenges. This is particularly evident in political autonomy and in the informal aspects of governance, where the region shows the largest number of countries with the lowest scores. Trinidad and Tobago and Brazil show the best results and Ecuador, Honduras, and Chile the poorest performances. The rest of the countries vary according to the different indexes. We give each governance variable equal weights and positively test the robustness of our approach using Principal Component Analysis.

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    Bibliographic Info

    Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4380.

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    Date of creation: 01 Nov 2007
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    Handle: RePEc:wbk:wbrwps:4380

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    Related research

    Keywords: National Governance; Governance Indicators; Public Sector Corruption&Anticorruption Measures; Country Strategy&Performance; Banks&Banking Reform;

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    Cited by:
    1. Cambini, Carlo & Franzi, Donata, 2013. "Independent regulatory agencies and rules harmonization for the electricity sector and renewables in the Mediterranean region," Energy Policy, Elsevier, vol. 60(C), pages 179-191.
    2. Serebrisky, Tomás & López Azumendi, Sebastián & Alberto Andrés, Luis, 2011. "Institutional design and governance of airport regulators: The case of Latin America," Journal of Air Transport Management, Elsevier, vol. 17(4), pages 207-210.
    3. Pollitt, Michael & Stern, Jon, 2011. "Human resource constraints for electricity regulation in developing countries: Developments since 2001," Utilities Policy, Elsevier, vol. 19(2), pages 53-60, June.
    4. Andres, Luis & Guasch, Jose Luis & Azumendi, Sebastian Lopez, 2008. "Regulatory governance and sector performance : methodology and evaluation for Electricity distribution in Latin America," Policy Research Working Paper Series 4494, The World Bank.
    5. Luis A. Andrés & Jordan Schwartz & J. Luis Guasch, 2013. "Uncovering the Drivers of Utility Performance : Lessons from Latin America and the Caribbean on the Role of the Private Sector, Regulation, and Governance in the Power, Water, and Telecommunication Se," World Bank Publications, The World Bank, number 15774.

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