Regulatory trade-offs in the design of concession contracts
نویسندگان
چکیده
The paper discusses how conflicts between the multiple objectives of policymakers (efficiency, equity, fiscal, speed of reform, signaling,...) can influence the optimal design of concessions contract for network services in infrastructure. The discussion covers the relevance of information asymmetries for the optimal regulatory regime and processes, for the optimal design of awarding processes and for the optimal duration of the contracts. It also addresses the design of pricing in relation with the universal service obligation. It concludes with an illustration of the preceding economic principles with some stylized facts from the liberalization experiment in Argentina.
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