Regulatory governance and sector performance : methodology and evaluation for Electricity distribution in Latin America

This paper contributes to the literature that explores the link between regulatory governance and sector performance. The paper develops an index of regulatory governance and estimates its impact on sector performance, showing that indeed regulation and its governance matter. The authors use two unique databases: (i) the World Bank Performance Database, which contains detailed annual data for 250 private and public electricity companies in Latin America and the Caribbean; and (ii) the Electricity Regulatory Governance Database, which contains data on several aspects of the governance of electricity agencies in the region. The authors run different models to explain the impacts of change in ownership and different characteristics of the regulatory agency on the performance of the utilities. The results suggest that the mere existence of a regulatory agency, regardless of the utilities'ownership, has a significant impact on performance. Furthermore, after controlling for the existence of a regulatory agency, the ownership dummies are still significant and with the expected signs. The authors propose an experience measure in order to identify the gradual impact of the regulatory agency on utility performance. The results confirm this hypothesis. In addition, the paper explores two different measures of governance, an aggregate measure of regulatory governance, and an index based on principal components, including autonomy, transparency, and accountability. The findings show that the governance of regulatory agencies matters and has significant effects on performance.National Governance,Infrastructure Regulation,Governance Indicators,Banks&Banking Reform,Emerging Markets

THREE ESSAYS IN POLITICAL ECONOMY

This dissertation explores three different relevant questions in political economy. Chapter 1 is devoted to understanding why populist-outsider candidates get elected, and what conditions may favor/hinder their electability. The results show that countries with a higher income and wealth concentration are more likely to elect populist outsiders than countries where income and wealth are more equally distributed. It is also shown that elections with a runoff also are less likely to bring these populist outsiders into office. Chapter 2 in turn explores the role of the middle class in moderating political outcome in a framework where money and votes play two distinctive roles in the election process. In this chapter, a three-class model of heterogeneous agents is developed in which groups affect policy outcomes through their voting behavior and contributions to political campaigns, and where income inequality can lead to extreme policy outcomes. Increasing the size of the middle class reduces the likelihood of extreme policy outcomes, as does a richer middle class. This result highlights the importance of a large and strong middle class for political stability. Finally Chapter 3 looks at the question of why inequality has remained persistently high in Chile despite its success in reducing poverty and achieving high growth for two decades while having a mostly pro-poor structure of public expenditures. We show that the key factors explaining this persistent inequality have been a low level of fiscal expenditures caused by low tax revenues that have not permitted enough public investment in human capital and R&D

Governance in state-owned enterprises revisited : the cases of water and electricity in Latin America and the Caribbean

This paper studies the governance structure of state-owned enterprises in the water and electricity sectors of Latin America and the Caribbean. Through a unique dataset, the paper compares 44 leading state companies of the region based on an aggregate measure of corporate governance and six salient aspects of their design: board, chief executive officer, performance orientation, management, legal framework, and transparency/disclosure. The results indicate the need for improvement in areas such as the selection and appointment of directors to the board and the performance-orientation of the enterprises. The paper also highlights the importance of discussing the management of state-owned enterprises in the wider context of public sector governance, with particular focus on accountability. Moreover, it recognizes the role of accountability as central in the management of state-owned enterprises, recommending a better understanding of regulation and performance management. The paper finds a positive correlation between corporate governance and the utilities'performance. Among the different aspects of corporate governance, performance orientation and professional management seem to be the highest contributors to well-performing state-owned enterprises. State-owned enterprises in the electricity sector show higher governance levels than those in the water sector.National Governance,Corporate Law,Private Participation in Infrastructure,Governance Indicators,Banks&Banking Reform

COMPUTATIONAL FLUID DYNAMICS TECHNIQUES FOR MULTIPHASE FLOW SYSTEMS

Mathematical modelling of multiphase flow systems has been a major and persistent challenge over the last decades. Vast attempts to obtain predictive models can be found reported in literature, where major advances can be recognized in recent years, paired to enhancements in computer science and engineering. Notwithstanding, universally valid models with a mechanistic development are far from being achieved. The current status of modelling any multiphase flow system relies on the model order reduction of purely theoretical models. Such reductions and simplifications become the source of deviations in the predictions of the experimentally measured parameters and will constrain the applicability of the models. Hence, when modelling any multiphase flow system, there is a primal need of pairing mathematical modeling and experimental studies, in order to validate the models’ predictive quality, quantifying the deviations and providing a standpoint of the applicability and limitations of the models. In this sense, a successful multiphase flow system model should provide highly accurate local predictions, have a reduced number of possible sources of deviations (i.e., reducing the number of coupled sub-models, nor relying on vast simplifications), and have a high flexibility for being adapted or optimized to different conditions. In this work, it is sought to develop highly predictive, simplified and locally validated mathematical models by applying Computational Fluid Dynamics techniques, paired with other modelling and experimental techniques. Six cases of study are developed: i) Trickle Bed Reactors (TBR), ii) Packed Bed Reactors (PBR), iii) Fluidized Bed Reactors (FBR), iv) Spouted Bed Reactors (SBR), v) Heat transfer systems enhanced by nanofluids, vi) Bubble Column Reactors (BCR) --Abstract, p. i

Concessions and Similar Legal Instruments in Argentina

Argentina presents a variety of legal instruments around the legal figure of concession. The present article discusses four cases which are casinos, exploitation mining and hydrocarbon resources, the advertisement in public spaces, and, finally, the exploitation of municipal parking. The selection of cases is not arbitrary as it provides a good panoramic view of the enabling titles as well as the legal regime of these activities. All of them are governed by Public Law and all of them imply the use of administrative prerogatives. In the end, we present our concluding remarks that are related to the weakness in which de private counterpart finds itself

Taylor series method in TDOA approach for indoor positioning system

Localisation technologies have always remained in the limelight of positioning-science as researchers have ever shown keen interest to know the exact positions of things. Ultrasonic sensors are mainly used for localisation of mobile robots since they provide high accuracy. This paper presents Taylor Series Method in Time Difference of Arrival approach using ultrasonic sensors.Signals are send from the sensors periodically.The time difference of arrival of signals from the ultrasonic sensors is used by the receiver unit to estimate the location of the mobile unit. The equations formed by using Time Difference of Approach are solved using Taylor Series Method. Taylor Series Method provides a more accurate result since they give less error compared to other methods and they ignore the measurement errors

A new marrellomorph euarthropod from the Early Ordovician of Argentina

Marrellomorphs (class Marrellomorpha) are a group of Paleozoic arthropods with a very poor fossil record. Here we describe a new marrellomorph arthropod Mimetaster florestaensis sp. nov. from the Tremadocian (earliest Ordovician) of Argentina. The new species is characterized by the shape and direction of the three pairs of principal spines, and the existence of strong secondary spines only in the proximal two-thirds of the anterolateral spines. As a result of phylogenetic analysis the new species integrates a trichotomy with Mimetaster hexagonalis and a Moroccan unnamed marrellid as sister groups. This discovery increases the known diversity of Marrellomorpha and represents the first occurrence of this group in South America, expanding the spatial distribution of the clade.Fil: Aris, María Josefina. Universidad Nacional de Salta. Consejo de Investigacion; Argentina. Universidad Nacional de Salta. Facultad de Ciencias Naturales; ArgentinaFil: Corronca, Jose Antonio. Universidad Nacional de Salta. Consejo de Investigacion; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: Quinteros, Andres Sebastian. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Salta. Instituto de Bio y Geociencias del NOA. Universidad Nacional de Salta. Facultad de Ciencias Naturales. Museo de Ciencias Naturales. Instituto de Bio y Geociencias del NOA; ArgentinaFil: Pardo, Paolo Luciano. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Universidad Nacional de Salta. Consejo de Investigacion; Argentin