Information Accounting And The Regulation Of Concessioned Infrastructure Monopolies PDF Download
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Author | : Antonio Estache |
Publisher | : |
Total Pages | : 24 |
Release | : 2016 |
Genre | : |
ISBN | : |
Download Information, Accounting, and the Regulation of Concessioned Infrastructure Monopolies Book in PDF, ePub and Kindle
Information that private operators of infrastructure monopolies provide regulators can and should be used to address technical issues and monitor performance. But to reduce the risk of abusive behavior, the information should also be used to make both regulators and concessionaires accountable - for example, for passing any cost reductions along to consumers.Economists often characterize the regulation of monopolies as a game (between the regulator and the service provider) in which the two players do not share the same information. The regulator is assumed to have poorer information than the service provider about the scope of future efficiency gains and the size and timing of future investment plans. Over time, the regulator must increase its information base so that regulatory targets become more realistic - but this is a costly process.Burns and Estache examine the ways such information can and should be generated, especially through the accounting requirements a regulator can impose on private operators of infrastructure concessions. (They view concessioning and regulation as complementary, not substitute, activities.) Concessionaires should provide regulators with the information they need to:Compare outcomes with expectations.Evaluate the cost of adverse shocks that may warrant relaxed regulation.Evaluate whether lower costs than expected are the result of better performance or diminished output.Properly evaluate the asset base and charge for the consumption of capital.Information that regulators get from private operators of infrastructure monopolies should be used to make both regulators and concessionaires accountable. In Chile, for example, the privatization of monopolies led to significant efficiency gains, but it took a long time for these gains to be passed on to users because neither the firms nor the regulators were held accountable - until Congress expressed reluctance to endorse further privatization because earlier waves of privatization had not benefited consumers. In other words, information should be used to make regulatory decisions more transparent and to reduce the risk of the private providers capturing the regulators.This paper - a product of the Regulatory Reform and Private Enterprise Division, Economic Development Institute - is part of a larger effort in the institute to increase understanding of the importance of regulation for the success of infrastructure privatization.
Author | : Phil Burns |
Publisher | : |
Total Pages | : 32 |
Release | : 1998 |
Genre | : Administrative agencies |
ISBN | : |
Download Information, Accounting, and the Regulation of Concessioned Infrastructure Monopolies Book in PDF, ePub and Kindle
Author | : Martin Rodriguez Pardina |
Publisher | : World Bank Publications |
Total Pages | : 240 |
Release | : 2008 |
Genre | : Business & Economics |
ISBN | : 0821371800 |
Download Accounting for Infrastructure Regulation Book in PDF, ePub and Kindle
This title provides a practical guide for regulators, policy-makers, and utility managers for establishing regulatory accounts that can be the cornerstone for better, more complete, and more reliable information. It sets out the essential accounting features of regulatory accounts and provides practical guidance on controversial areas such as cost allocation, asset valuation, and depreciation. It emphasizes the essential requirements for consistency with Generally Accepted Accounting Principles (GAAP).
Author | : Antonio Estache |
Publisher | : World Bank Publications |
Total Pages | : 324 |
Release | : 2000-01-01 |
Genre | : Business & Economics |
ISBN | : 9780821347218 |
Download Privatization and Regulation of Transport Infrastructure Book in PDF, ePub and Kindle
The 1990s saw an increase in the liberalisation of transport policies and a strengthening of the role of private operators and investors in transport infrastructure worldwide. The search for sustained improvement in efficiency is probably secondary to the need to find additional financing, but it is improvement in services that is at the core of the new role of the government in transport. Governments must now become fair economic regulators of many of the privately operated transport services and infrastructures. This book examines the major challenges that governments are likely to face in taking on their new role in transport.
Author | : Antonio Estache |
Publisher | : World Bank Publications |
Total Pages | : 40 |
Release | : 2002 |
Genre | : Competition |
ISBN | : |
Download The Case for International Coordination of Electricity Regulation Book in PDF, ePub and Kindle
Abstract: A decade long experience shows that monitoring the performance of public and private monopolies in South America is proving to be the hard part of the reform process. The operators who control most of the information needed for regulatory purposes have little interest in volunteering their dissemination unless they have an incentive to do so. Estache, Rossi, and Ruzzier argue that, in spite of, and maybe because of, a much weaker information base and governance structure, South America's electricity sector could pursue an approach that relies on performance rankings based on comparative efficiency measures. The authors show that with the rather modest data currently available publicly, such an approach could yield useful results. They provide estimates of efficiency levels in South America's main distribution companies between 1994 and 2000. Moreover, the authors show how relatively simple tests can be used by regulators to check the robustness of their results and strengthen their position at regulatory hearings. This paper"a joint product of the Governance, Regulation, and Finance Division, World Bank Institute, and the Finance, Private Sector, and Infrastructure Unit, Latin America and the Caribbean Region"is part of a larger effort in the institute to increase understanding of infrastructure regulation.
Author | : Javier Campos-Méndez |
Publisher | : |
Total Pages | : 52 |
Release | : 2001 |
Genre | : Accounting |
ISBN | : |
Download Processes, Information and Accounting Gaps in the Regulation of Argentina's Private Railways Book in PDF, ePub and Kindle
Author | : Simeon Djankov |
Publisher | : World Bank Publications |
Total Pages | : 21 |
Release | : 1999 |
Genre | : Corporate governance |
ISBN | : |
Download Restructuring of Insider-dominated Firms Book in PDF, ePub and Kindle
We study the effects of different modalities of privatization to insiders on the restructuring process in two former Soviet republics - Georgia and Moldova - using enterprise survey data for 1995-97. Enterprise restructuring was similar in companies where incumbent managers received significant ownership stakes for free and in state-owned companies. In contrast, the restructuring process was faster in companies bought by their managers. We interpret these results to suggest that managers' incentives to restructure decrease when they perceive their newly acquired ownership as a windfall gain.
Author | : Thorsten Beck |
Publisher | : World Bank Publications |
Total Pages | : 51 |
Release | : 1999 |
Genre | : Acumulacion de capital |
ISBN | : |
Download Finance and the Sources of Growth Book in PDF, ePub and Kindle
Author | : José A. Gómez-Ibáñez |
Publisher | : |
Total Pages | : 431 |
Release | : 2003 |
Genre | : |
ISBN | : |
Download Regulating Infrastructure Book in PDF, ePub and Kindle
Author | : Stijn Claessens |
Publisher | : World Bank Publications |
Total Pages | : 44 |
Release | : 1999 |
Genre | : Administracion de empresas - Asia oriental |
ISBN | : |
Download Who Controls East Asian Corporations? Book in PDF, ePub and Kindle