Regulatory Capture in the First Spanish Nuclear Program (C.1951-1964)

Josean Garrues-Irurzun and Juan Rubio-Mondéjar (jarubio@ugr.es)

No 2102, Documentos de Trabajo (DT-AEHE) from Asociación Española de Historia Económica

Abstract: The commercial use of nuclear electricity represented an economic opportunity that adopted different national varieties. In Spain, the change from an “autarchic” to a “liberal” model of nuclear management consolidated the old interests of the national electric oligopoly. The objective of this article is to explain this process through a mesoeconomic perspective (inter-institutional dialectic). The main conclusion reached is that, in the face of a general hypothesis that defends the existence of a weak “reciprocal instrumentation” between political and economic interests during the transition from Francoist autarky to developmentalism, the theory of the regulatory capture is more convincing. That is, the capture of the State by the electric companies. Finally, the article should induce reflection regarding the importance that the assumption of past risks by Governments and companies may have in the assumption of current responsibilities (moratorium, dismantling, etc.).

Keywords: regulation; nuclear energy; utilities; business history; institutions; Spain (search for similar items in EconPapers)
JEL-codes: B15 L52 L94 L98 N24 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2021-03
New Economics Papers: this item is included in nep-ene and nep-his
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Persistent link: https://EconPapers.repec.org/RePEc:ahe:dtaehe:2102

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