The Measurement of Regulator Independence in Practice: Latin America and the Caribbean
25 Pages Posted: 21 Feb 2014
Date Written: February 19, 2014
We present case studies of the evolution of regulatory independence in practice for 23 Latin American and Caribbean countries in the telecommunications industry. Based on these studies, we construct two realistic indices of regulatory independence, which improve upon the measures of independence that have been used so far in the empirical regulation literature. We show that legal indices may give a partially distorted picture of the commitment ability of institutions and of the impact of independence on network penetration.
Keywords: regulation, independence, strategic delegation, telecommunications
JEL Classification: L51
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