Institutional dynamics of the Colombian electricity industry: proposals for a change

David Tobón Orozco

No 25, Grupo Microeconomía Aplicada from Universidad de Antioquia, Departamento de Economía

Abstract: This paper analyzes the institutional problems of the electrical industry in Colombia from the perspectives of neoinstitutionalism, regulation, agency models and contracts. Regulation is perceived as a set of interest groups that seeks wealt redistribution. This intervention involves multiple agencies which establish general policies, plan, regulate, control, and supervise. One of the outcomes of the paper is that the problem can be explained because of the country institutional tradition that involves all public powers. However, the own regulation activity, has consolidated on the basis of the economic reforms in the 1990s within a technologically complex industry where its market development has been less ambitious than expected.

Keywords: Electrical industry; regulating institutionality; agency problems; contract theory; independence and autonomy. (search for similar items in EconPapers)
JEL-codes: D4 L5 L94 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2003
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