Historical analysis of institutions and organizations: the case of the Brazilian electricity sector

Guilherme Signorini, R. Brent Ross and H. Christopher Peterson

Journal of Institutional Economics, 2015, vol. 11, issue 1, 191-212

Abstract: Scholars argue that the New Institutional Economics (NIE) has not yet provided causal explanations on how long institutions persist or why and how they suffer dramatic changes. Others state that evidence is still inconclusive to define a theoretical justification on how changes and development occur. This article focuses on the institutions of the electricity sector in Brazil, aiming to heighten the body of empirical research in NIE and produce satisfactory explanations that motivate theory refinement. Based on a qualitative approach, we find that the drivers of the first institutional change in Brazil's electricity sector were related to market protection and domestic industrial support. For the second institutional change, economic recession (country at state of bankruptcy, debt crisis, and high inflation rates) and reliability of utility services were the driving factors. We hope this study systematizes historical facts and helps create grounds for our understanding of institutional evolution and economic growth.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jinsec:v:11:y:2015:i:01:p:191-212_00

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