Chapter 14

Investment and Regulation in MENA Countries: The Impact of Regulatory Independence

Abrardi Laura
Cambini Carlo
Rondi Laura    Politecnico di Torino, DIGEP Department of Management, Torino, Italy


National regulatory agencies (NRAs) have recently been set up in several Mediterranean countries with the aim of increasing infrastructure investments and converging toward a harmonized regulatory framework with Europe. Our study empirically investigates the impact of the presence of independent regulatory bodies on the growth of electric generation capacity for a sample of 12 MENA countries (Algeria, Djibouti, Egypt, Iran, Iraq, Jordan, Lebanon, Libya, Morocco, Syria, Tunisia, and Yemen) from 1990 to 2011. We find that inception of ...

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