A key characteristic of regulatory schemes in Latin America is its virtual absence of mechanisms for coping with outages in the supply of public utilities. This paper presents such a mechanism, which has the advantage of being complementary to the medium

Despite the increasing interest in the use of emissions trading for pollution control, empirical evidence reduces to a few experiences in the US. This paper studies the “"emission-offsets trading program”" established since 1992 to control particulate in Santiago-Chile. While the program is...

Chile has pioneered the implementation of emission offseting programs pursuing simultaneously economic growth and environmental protection. In this paper, emission trading programs implemented in Santiago of Chile are analyzed and its relevance for developing countries is evaluated. It is argued...