Processes, Information and Accounting Gaps in the Regulation of Argentina's Private Railways

45 Pages Posted: 17 Dec 2001

See all articles by Antonio Estache

Antonio Estache

Université Libre de Bruxelles (ULB) - European Center for Advanced Research in Economics and Statistics (ECARES)

Javier Campos

University of Las Palmas de Gran Canaria - Analisis Economico Aplicado

Lourdes Trujillo

Departamento de Analisis Economico Aplicado; University College of London (UCL)

Date Written: July 2001

Abstract

Almost a decade after Argentina began privatizing its railways, resolution of the conflicts between regulators, users and operators continues to take longer, and to be more difficult than expected. This paper shows that many of these conflicts arose because there are no rule of interactions between the key stakeholders. This is the result of inexperience in setting up concession agreements. Initial privatization were carried out in such a way that there was no time to refine contractual terms and many loopholes remained. Unforeseen events have happened and the regulatory agency has had to adapt its procedures and decisions to the limited information available as part of the renegotiations which have impacted all the contracts. The paper makes specific recommendations as to how to structure the renegotiations and as to how to develop a regulatory accounting system which will allow a fairer resolution of regulatory conflicts.

Keywords: railways privatization, contract renegotiation, regulatory accounting

JEL Classification: L5, L50, L51, L33, L92

Suggested Citation

Estache, Antonio and Campos Méndez, Javier and Trujillo-Castellano, Lourdes, Processes, Information and Accounting Gaps in the Regulation of Argentina's Private Railways (July 2001). World Bank Policy Research Working Paper No. 2636. Available at SSRN: https://ssrn.com/abstract=293823 or http://dx.doi.org/10.2139/ssrn.293823

Antonio Estache (Contact Author)

Université Libre de Bruxelles (ULB) - European Center for Advanced Research in Economics and Statistics (ECARES) ( email )

Ave. Franklin D Roosevelt, 50 - C.P. 114
Brussels, B-1050
Belgium
32 (0)2 6503838 (Phone)

Javier Campos Méndez

University of Las Palmas de Gran Canaria - Analisis Economico Aplicado ( email )

Dep. Analisis Economico Aplicado
Las Palmas de Gran Canaria, Las Palmas 35017
Spain

HOME PAGE: http://www.jcampos.es

Lourdes Trujillo-Castellano

Departamento de Analisis Economico Aplicado ( email )

Universidad de Las Palmas de Gran Canaria
Campus de Tafira
Las Palmas de Gran Canaria, Las Palmas 35017
Spain

University College of London (UCL)

Chadwick Building
Gower Street
London, London WC1E 6
United Kingdom

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