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The Political Economy of Institutional Change in the Electricity Supply Industry

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The Political Economy of Institutional Change in the Electricity Supply Industry

Shifting Currents

9781843762034 Edward Elgar Publishing
Carlos Rufín, Associate Professor of International Business and Director, Global Business Program, Sawyer Business School, Suffolk University, US
Publication Date: 2004 ISBN: 978 1 84376 203 4 Extent: 240 pp
The author shows that ideological considerations and bargaining over the distribution of economic rents accruing from certain institutional arrangements are powerful shapers of institutional change. At the same time, the legacy of the past does not appear to have a clear or systematic effect on the direction of second-wave reforms that seek to transform existing economic institutions. If distributional conflicts can be resolved, these conclusions provide grounds for optimism about the ability to create new institutions even in countries where little favorable precedent exists.

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Contents
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Through a variety of analytical lenses – formal modeling, econometrics and case study comparisons – Carlos Rufín fills a gap in the political economy of second-wave, or microeconomic, reforms around the world. More specifically, he does so in the context of the electricity supply industry, where such reforms have been as problematic as they have been widespread.

The author shows that ideological considerations and bargaining over the distribution of economic rents accruing from certain institutional arrangements are powerful shapers of institutional change. At the same time, the legacy of the past does not appear to have a clear or systematic effect on the direction of second-wave reforms that seek to transform existing economic institutions. If distributional conflicts can be resolved, these conclusions provide grounds for optimism about the ability to create new institutions even in countries where little favorable precedent exists.

Political economy and public policy scholars, specialists on business–government relations and non-market strategy and those interested in Latin America will find this comprehensive book of great interest. Practitioners involved in the design and implementation of second-wave reforms around the world will find this an essential addition to their library.
Critical Acclaim
‘Institutional change is seldom easy. However, research such as this should help in a major way to keep expectations connected to reality and to provide guidance that points to hidden assumptions about the fertility of the field of reform and unintended consequences of planting before the ground is prepared’.
– From the foreword by William W. Hogan
Contents
Contents: Foreword by William W. Hogan 1. Introduction 2. The Model 3. Cross-Sectional Tests 4. A Comparison of Four Latin American Cases 5. Explanatory Factors 6. Putting the Pieces Together: ESI Restructuring in Argentina, Bolivia, Brazil and Chile 7. Understanding Institutional Change Appendix 1: Major Variables Used in the Regression Tests and Correlation Coefficients for Dependent and Explanatory Variables Appendix 2: Operationalization of Dependent and Explanatory Variables Bibliography Index
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