Ghirardi, André Garcez; Rocha, Milena Couto; Teixeira, … - In: Nova Economia 12 (2002) 1, pp. 41-67
to underinvestment and to quality deterioration under price-cap rate regulation, which is the system adopted for the … order to assess the firm’s behavior with respect to investment and service quality. The observed results do not contradict … the theoretical expectation of underinvestment. There is evidence that investment since privatization was sufficient to …