High rates of contract renegotiation have raised serious questions about the viability of the concession model to … model, in which renegotiation occurs due to the imperfect enforcement of concession contracts, we use a unique data set of … probability of renegotiation of a concession, of regulatory institutions, institutional features, economic shocks and of the …

We construct a regulation model in which renegotiation occurs due to the imperfect enforcement of concession contracts …. This enables us to provide theoretical predictions for the impact, on the probability of renegotiation of a concession, of … regulatory institutions, institutional features, economic shocks and of the characteristics of the concession contracts …