Revisiting the Strengths and Limitations of Regulatory Contracts in Infrastructure Industries

摘要: This paper evaluates regulation by contract in public-private partnerships (PPPs) infrastructure services. Although the benefits of competition for market and regulatory contracts are widely acknowledged, literature identifies several failures their design. These "flaws" present both developed developing countries arise all types contracts. study analyzes contractual PPPs institutionalized (mixed companies). The evidence suggests that kinds contracts, major problems tend to preparation public tender documents: "best" bidder is not often winner. likely results include redistribution favor private partner, weak incentives high performance, renegotiation Moreover, risks allocated correctly nor effective monitoring ensured. review procedures design allows us draw implications policy makers suggestions recommendations improving