We study the choice of the regulatory structure when a regulated firm engages in different activities for different countries. Under decentralization each activity is regulated independently and the contracts offered to the firm suffer from two opposite distortions with respect to...

This paper analyzes Côte d'Ivoire's experience with telecommunications liberalization and privatization. Côte 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...

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...

We develop a model of vertical merger waves leading to input foreclosure. When all upstream firms become vertically integrated, the input price can increase substantially above marginal cost despite Bertrand competition in the input market. Input foreclosure is easiest to sustain when upstream...