During the last decade, Latin American countries have brought about important reforms in infrastructure services based both on private sector participation for enhancing internal efficiency and competition for increasing consumer welfare. Infrastructure services have evolved from monopoly and...

During the last decade, Latin American countries have brought about important reforms in infrastructure services based both on private sector participation for enhancing internal efficiency and competition for increasing consumer welfare. Infrastructure services have evolved from monopoly and...

Economics

This paper analyzes Cote d'Ivoire's experience with telecommunications liberalization and privatization. Cote d'Ivoire privatized its incumbent operator in 1997, and granted the newly privatized firm seven years of fixed-line exclusivity while introducing "managed competition" in the cellular...

The authors construct a regulation model in which renegotiation occurs due to the imperfect enforcement of concession contracts. This enables the authors to provide theoretical predictions for the impact on the probability of renegotiation of a concession, regulatory institutions, institutional...

We propose a theory of supervision with endogenous transaction costs. A principal delegates part of his authority to a supervisor who can acquire soft information about an agent's productivity. If the supervisor were risk-neutral, the principal would simply make the better informed supervisor...