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

Author

Listed:
  • Andres, Luis
  • Guasch, Jose Luis
  • Diop, Makhtar
  • Azumendi, Sebastian Lopez
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.

Suggested Citation

  • Andres, Luis & Guasch, Jose Luis & Diop, Makhtar & Azumendi, Sebastian Lopez, 2007. "Assessing the governance of electricity regulatory agencies in the Latin American and the Caribbean region : a benchmarking analysis," Policy Research Working Paper Series 4380, The World Bank.
    • Handle: RePEc:wbk:wbrwps:4380
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    Citations

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    Cited by:

    1. Andres, Luis Alberto & Guasch, Jose Luis & Azumendi, Sebastian Lopez, 2011. "Governance in state-owned enterprises revisited : the cases of water and electricity in Latin America and the Caribbean," Policy Research Working Paper Series 5747, The World Bank.
    2. Gassner, Katharina & Pushak, Nataliya, 2014. "30 years of British utility regulation: Developing country experience and outlook," Utilities Policy, Elsevier, vol. 31(C), pages 44-51.
    3. 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.
    4. Liam Wren-Lewis, 2015. "Do Infrastructure Reforms Reduce the Effect of Corruption? Theory and Evidence from Latin America and the Caribbean," The World Bank Economic Review, World Bank, vol. 29(2), pages 353-384.
    5. Cabrera, María & Suárez-Alemán, Ancor & Trujillo, Lourdes, 2015. "Public-private partnerships in Spanish Ports: Current status and future prospects," Utilities Policy, Elsevier, vol. 32(C), pages 1-11.
    6. 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 - Books, The World Bank Group, number 15774.
    7. Antonio Estache & Liam Wren-Lewis, 2009. "Toward a Theory of Regulation for Developing Countries: Following Jean-Jacques Laffont's Lead," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 729-770, September.
    8. Nancy McCarthy & Heath Henderson, 2014. "The Role of Renewable Energy Laws in Expanding Energy from Non-Traditional Renewables," IDB Publications (Working Papers) 86813, Inter-American Development Bank.
    9. Luis Andres & José Luis Guasch & Sebastián Lopez Azumendi, 2009. "Regulatory Governance and Sector Performance: Methodology and Evaluation for Electricity Distribution in Latin America," Chapters, in: Claude Ménard & Michel Ghertman (ed.), Regulation, Deregulation, Reregulation, chapter 6, Edward Elgar Publishing.
    10. Francesc Trillas & Miguel A. Montoya, 2011. "The Liberalization of Infrastructures in Latin America," Chapters, in: Matthias Finger & Rolf W. Künneke (ed.), International Handbook of Network Industries, chapter 22, Edward Elgar Publishing.
    11. 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.
    12. McCarthy, Nancy & Henderson, Heath, 2014. "The Role of Renewable Energy Laws in Expanding Energy from Non-Traditional Renewables," IDB Publications (Working Papers) 6677, Inter-American Development Bank.
    13. 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.

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