engleski

The Impact of Regulatory Quality on Electricity Sector Reforms: The Case of Transition Countries

During the past two decades all transition countries have implemented electricity reforms as a part of much wider structural adjustment programmes, where regulatory reforms have been a crucial reform step.Although theory strongly confirms the positive impact of institutional framework and regulatory quality on electricity reforms’ outcomes, there has been a limited number of empirical studies focusing this issue. Our aim is to investigate the importance of institutions and regulators in the process of conducting economic reforms in electricity sector of transition countries by using econometric models. More precisely, we first assess the impact of regulatory quality, government effectiveness and independence of electricity regulator on the success of conducting electricity reforms by using mediation analysis. Our hypothesis is that regulatory quality mediates the effects of government effectiveness on the success in implementing reforms in electricity sector of transition countries. The further step is made using moderator analysis in order to examine the possible impact of a country’s level of development on the success in conducting electricity reforms because it could be expected that countries with higher GDP p/c have been more successful in implementing reforms.

regulatory quality; regulatory reforms; electricity sector; transition countries

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