We present an analysis of the evolution of regulatory independence in practice for 23 Latin American and Caribbean countries in the telecommunications industry. Based on this analysis, we construct indices of regulatory independence, which improve upon the measures that have been used so far in...

Abstract We empirically estimate the effects of regulated access prices and firms’ multinational status on firm performance by using firm, corporate group, and country level information for the European broadband market between 2002 and 2010. Three measures of firm performance are used,...

This paper presents new data on telecommunications reform for a cross section of countries. We measure telecommunications reform along two dimensions: entry barriers and regulatory independence. This data set is combined with a comprehensive set of performance, institutional and political data...

In the last days of the electoral campaign for the 2004 general election in Spain, on Thursday March 11th 2004, a series of simultaneous terror attacks caused the death of 191 persons in commuting trains in the capital Madrid. Four days later, the opposition party won the election, against all...

This paper analyzes how announce changes in the corporate control (takeover) of Endesa, Hidrocantábrico and Scottish Power affect their stock market returns and the impact that these events have on the stock market returns of competitors of the target firm. Using an “event study”...

The decision to allocate a given number of governmental interventions in one or more agencies, for example, in the field of regulation and antitrust, raises important issues in organizational and institutional economics. The economics literature suggests that this decision should take into...

This survey reviews the relationship between regulation and distribution, focusing on regulatory reform in developing countries. The characteristics of these countries impose constraints on appropriate regulatory policies. These constraints condition: i) the terms of the trade-off between firms'...

We examine the hold-up problem of price regulation and compare it with the monetary policy credibility problem. For both, reputational solutions are possible provided that the policymaker is sufficiently far-sighted, but the hold-up problem in regulation turns out to be more serious than the...

We empirically estimate the effects of regulated access prices and firms' multinational status on firm performance by using firm, corporate group, and country level information for the European broadband market between 2002 and 2010. Three measures of firm performance are used, namely: market...

The deregulation process in the EU electricity sector triggered strategic decisions that led to industry restructuring. This paper presents preliminary evidence of the impact of this process on investors, using event studies and estimation techniques such as least squares and GARCH. Our findings...