What it Takes to Lower Regulatory Risk in Infrastructure Industries : An Assessment and Benchmarking of Brazilian Regulators

Correa, Paulo

World Bank, Washington, DC

关键词: ACCOUNTABILITY;    ACCOUNTABILITY MECHANISMS;    ATTORNEY GENERAL;    BENCHMARKING;    BOARD MEMBERS;   

RP-ID  :  41704

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This article points out that regulatorygovernance-how regulators manage concession contracts, orother public-private contractual arrangements and sectorlaws-can affect the private sector's perception ofregulatory risk and thus the availability of private capitalfor infrastructure projects. Four key elements of theregulatory governance structure can reduce the risk ofregulatory failure: political and financial autonomy,decision-making structures that reduce regulatorydiscretion, access to effective enforcement and otherregulatory tools, and efficient rules of accountability.This note presents an analytical framework based on thosefour elements and applies it in assessing regulatorygovernance in Brazil.