Regulatory Effectiveness and the Empirical Impact of Variations in Regulatory Governance

45 Pages Posted: 1 Apr 2005

See all articles by John S. Cubbin

John S. Cubbin

City University London - Department of Economics

Jon Stern

City, University of London - Centre for Competition and Regulatory Policy - Department of Economics

Date Written: March 2005

Abstract

This paper assesses for 28 developing countries over the period 1980-2001 whether the existence of a regulatory law and higher quality regulatory governance are significantly associated with superior electricity outcomes. The analysis draws on theoretical and empirical work on the impact of independent central banks and of developing country telecommunications regulators. The empirical analysis concludes that a regulatory law and higher quality governance are positively and significantly associated with higher per capita generation capacity levels. In addition, this positive impact continues to increase for at least three years and probably for over 10 years as experience develops and regulatory reputation grows. The results are robust to alternative dynamic specifications and show no sign of any significant endogeneity biases.

Suggested Citation

Cubbin, John S. and Stern, Jon, Regulatory Effectiveness and the Empirical Impact of Variations in Regulatory Governance (March 2005). World Bank Policy Research Working Paper No. 3535. Available at SSRN: https://ssrn.com/abstract=695385

John S. Cubbin (Contact Author)

City University London - Department of Economics ( email )

Northampton Square
London, EC1V 0HB
United Kingdom

Jon Stern

City, University of London - Centre for Competition and Regulatory Policy - Department of Economics ( email )

Northampton Square
London, EC1V 0HB
United Kingdom

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