Considerations for the Design and Transformation of Regulatory Systems
Araceli Castaneda,
Michele Phillips and
Mark Jamison
MPRA Paper from University Library of Munich, Germany
Abstract:
We examine the motivations for forming regulatory agencies and the features that are critical for their success. Governments create independent regulatory agencies to address two fundamental problems in the control of public utilities, namely the dampening effect that politics has on investment and the value of specialized knowledge. Agencies are more effective in stimulating investment if they are insulated from political pressures to behave opportunistically and if they have sufficient resources to overcome information asymmetries with operators. Forming or reforming regulatory systems create adaptive challenges for those whose authority, influence, and traditions are affected. Trained leadership professionals are often needed to help stakeholders through these transitions.
Keywords: Regulation; Energy; Natural Monopoly; Public Utility; Leadership (search for similar items in EconPapers)
JEL-codes: K23 L51 L94 (search for similar items in EconPapers)
Date: 2014-11-14
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/113243/1/MPRA_paper_113243.pdf original version (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:113243
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().