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Does Regulation Really Work? A Principal-agent Approach to the Portuguese Waste Services

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  • Rui Domingos Ribeiro da Cunha Marques
  • Hugo Consci?ncia Silvestre

Abstract

In this paper we break new ground by investigating the relationship between organizational characteristics and performance in ?retail? waste management in Portugal for the year 2016. We found that total costs and tariff revenues can be explained by the management model. Municipal corporations seem to present the lowest results, while private sector participation scores the highest levels. This has implications for the Portuguese regulatory agency. The ongoing regulatory framework is still not sufficient to safeguard users? interests such as lower prices. We are focusing on performance results that are influenced by previous contractual agreements. Attached to increasing regulatory power, efforts should be placed at contract negotiation between the parties.

Suggested Citation

  • Rui Domingos Ribeiro da Cunha Marques & Hugo Consci?ncia Silvestre, 2019. "Does Regulation Really Work? A Principal-agent Approach to the Portuguese Waste Services," ECONOMIA PUBBLICA, FrancoAngeli Editore, vol. 2019(1), pages 49-67.
    • Handle: RePEc:fan:epepep:v:html10.3280/ep2019-001003
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    References listed on IDEAS

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    1. da Cruz, Nuno F. & Marques, Rui Cunha, 2012. "Mixed companies and local governance: no man can serve two masters," LSE Research Online Documents on Economics 59778, London School of Economics and Political Science, LSE Library.
    2. Stephen P. Osborne, 2006. "The New Public Governance?-super-1," Public Management Review, Taylor & Francis Journals, vol. 8(3), pages 377-387, September.
    3. Marques, Rui Cunha & Berg, Sanford V, 2010. "Revisiting the strengths and limitations of regulatory contracts in infrastructure industries," MPRA Paper 32890, University Library of Munich, Germany.
    4. Hugo Consciência Silvestre & Rui Cunha Marques & Ricardo Corrêa Gomes, 2018. "Joined-up Government of utilities: a meta-review on a public–public partnership and inter-municipal cooperation in the water and wastewater industries," Public Management Review, Taylor & Francis Journals, vol. 20(4), pages 607-631, April.
    5. Marques, Rui Cunha & De Witte, Kristof, 2011. "Is big better? On scale and scope economies in the Portuguese water sector," Economic Modelling, Elsevier, vol. 28(3), pages 1009-1016, May.
    6. Marques, Rui Cunha, 2017. "Why not regulate PPPs?," Utilities Policy, Elsevier, vol. 48(C), pages 141-146.
    7. Antonio F. Tavares & Pedro J. Camões, 2010. "New Forms of Local Governance," Public Management Review, Taylor & Francis Journals, vol. 12(5), pages 587-608, September.
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    More about this item

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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