What it Takes to Lower Regulatory Risk in Infrastructure Industries : An Assessment and Benchmarking of Brazilian Regulators

This article points out that regulatory governance-how regulators manage concession contracts, or other public-private contractual arrangements and sector laws-can affect the private sector's perception of regulatory risk and thus the availability of private capital for infrastructure projects. Four key elements of the regulatory governance structure can reduce the risk of regulatory failure: political and financial autonomy, decision-making structures that reduce regulatory discretion, access to effective enforcement and other regulatory tools, and efficient rules of accountability. This note presents an analytical framework based on those four elements and applies it in assessing regulatory governance in Brazil.

Bibliographic Details

Main Author:	Correa, Paulo
Language:	English
Published:	World Bank, Washington, DC 2007-09
Subjects:	ACCOUNTABILITY, ACCOUNTABILITY MECHANISMS, ATTORNEY GENERAL, BENCHMARKING, BOARD MEMBERS, BUDGETARY RESOURCES, CONSENSUS, DECISION MAKERS, DECISION MAKING, DECISION-MAKING, DECISION-MAKING PROCESS, DISCRETIONARY POWER, ECONOMIC REGULATION, ELECTRICITY MARKET, ELECTRICITY MARKET REFORM, FEDERAL AGENCIES, FEDERAL REGULATORY AGENCIES, FINANCIAL AUTONOMY, FIRM PERFORMANCE, GOVERNANCE INDEXES, GOVERNMENT POLICY, HUMAN RESOURCES, INFORMAL MEETINGS, INFRASTRUCTURE INDUSTRIES, INFRASTRUCTURE PROJECTS, INFRASTRUCTURE REGULATION, JURISDICTION, LATIN AMERICAN, LEGAL PROVISIONS, LEGISLATIVE OVERSIGHT, LEGISLATURES, LEGITIMACY, MARKET STRUCTURES, MISMANAGEMENT, POLITICAL INTERFERENCE, PRIVATE CAPITAL, PRIVATE INFRASTRUCTURE, PRIVATE INVESTMENT, PRIVATE INVESTORS, PRIVATE SECTOR, PROCEDURAL REQUIREMENTS, PUBLIC GOOD, PUBLIC HEARINGS, PUBLIC PARTICIPATION, PUBLIC-PRIVATE PARTNERSHIP, PUBLIC-PRIVATE PARTNERSHIPS, REGULATED INDUSTRY, REGULATOR, REGULATORS, REGULATORY AGENCIES, REGULATORY AGENCY, REGULATORY AUTHORITY, REGULATORY DECISIONS, REGULATORY DESIGN, REGULATORY DISCRETION, REGULATORY GOVERNANCE, REGULATORY INSTITUTIONS, REGULATORY MECHANISMS, REGULATORY POWERS, REGULATORY PROCESS, REGULATORY PROCESSES, REGULATORY SYSTEMS, REGULATORY TOOLS, RISK OF EXPROPRIATION, RULES, SHAREHOLDER, STATE AGENCIES, STATE ENTERPRISE, STATE FINANCE, STATE REGULATORY, SUSTAINABLE DEVELOPMENT, TECHNICAL ASSISTANCE, TECHNOLOGICAL ADVANCES, TRANSACTION COSTS, TRANSPARENCY, TURNOVER, UTILITIES, UTILITIES POLICY, UTILITY REGULATION, UTILITY REGULATORS, VETO, VOTING,
Online Access:	http://documents.worldbank.org/curated/en/2007/09/8830441/takes-lower-regulatory-risk-infrastructure-industries-assessment-benchmarking-brazilian-regulators https://hdl.handle.net/10986/10645
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