Independent regulatory agencies in emerging economies

Sosay, Gül and Zenginobuz, Unal (2005): Independent regulatory agencies in emerging economies. Unpublished.

Abstract

While the diffusion of independent regulatory agencies (IRAs) across economically advanced countries has attracted much scholarly attention in recent years, systematic work on their spread across developing countries is still scarce. In an effort to address this gap in literature, this paper aims to analyze the diffusion of regulatory agencies in emerging economies in Latin America, Asia, and Central and Eastern Europe. At this early stage of our research, we aim to emprically map out regulatory agencies in economic regulation sectors (e.g. competition, finance, and utilities/infrastructure) enjoying some degree of autonomy or independence in emerging economies, rather than limiting our focus solely on those that meet all the criteria for independence in the strictest definition of the term. Such exploratory analysis constitutes the first step towards studying processes of diffusion in general and the mechanisms that lead to the creation of regulatory agencies in these economies in particular. The second objective of this paper is to examine the mechanisms which we expect to be at work in the spread of IRAs in the selected emerging economies. We argue that despite the creation of a number of agencies in the countries concerned before 1990, diffusion has become evident and “interdependent”, as opposed to spurious in the 1990s.

• Item Type: MPRA Paper
• Language: English
• Keywords: independent regulatory agencies; emerging economies
• Subjects: L - Industrial Organization > L5 - Regulation and Industrial Policy > L50 - General; H - Public Economics > H8 - Miscellaneous Issues > H83 - Public Administration; Public Sector Accounting and Audits

References

Ariceta, Maria Fernande (2004) “Privatization in Argentina: When Accountability Suffered”, Journal of Development and Social Transformation, 1 (November), pp. 51-56

Bartle, Ian (2002) `When Institutions No Longer Matter: Reform of Telecommunications and Electricity in Germany, France, and Britain”, Journal of Public Policy, 22, 1, pp. 1-27

Bennett, Colin J. (1991) “What Is Policy Convergence and What Causes It?”, British Journal of Political Science, 21, 2 (April), pp. 215-233

Biersteker, Thomas J. (1990) “Reducing the Role of the State in the Economy: A Conceptual Exploration of IMF and World Bank Prescriptions”, International Studies Quarterly, 34, 4 (Dec), pp. 477-492

Bjork, Isabel M. and Catherine R, Connors (2005) “Free Markets and the Umpires: The Appeal of the U.S. Regulatory Model”, World Policy Journal, 22, 2, pp. 51-58

Brehm, Stefan and Christian Macht (2005) “Is a New Broom Sweeping Clean? The Emergence of the China Banking Regulatory Commission”, Aussenwirtschaft, 60, 2, pp. 169-208

Brune, Nancy, Geoffrey Garrett, and Bruce Kogut (2004) “The International Monetary Fund and the Global Spread of Privatization” IMF Staff Papers, 51

Busch, Per-Olof, Helge Jörgens, and Kerstin Tews (2005) “The Global Diffusion of Regulatory Instruments: The Making of a New International Environmental Regime”, The Annals of the American Academy of Political and Social Science, 598 (March), pp. 146-167

Cohn, Theodore H. (2000) Global Political Economy: Theory and Practice, New York: Addison Wesley Longman, Inc.

Collier, Paul and Jan Willem Gunning (1999) “The IMF’s Role in Structural Adjustment”, The Economic Journal, 109, 459, pp. F634-F651

Davis, Bob (1997) “IMF’s Resolve to be Tested in Thai Case”, Wall Street Journal, December 8

DiMaggio, Paul J. And Walter W. Powell (1991) “The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality” in Wlater W. Powell and Paul J. DiMaggio (eds) The New Institutionalism in Organizational Analysis, Chicago and London: The University of Chicago Press

Dolowitz, David P. And David March (1996) “Who Learns What From Whom? A Review of the Policy Transfer Literature”, Political Studies, 44, pp. 343-357

Dolowitz, David P. And David March (2000) “Learning from Abroad: The Role of Policy Transfer in Contemporary Policy Making”, Governance, 13, 1 (January), pp. 5-24

Dreher, Axel (2002) “The Development and Implementation of IMF and World Bank Conditionality”, HWWA Discussion Paper 165, Hamburg: Hamburg Institute of International Economics.

Elkins, Zachary and Beth Simmons (2005) “On Waves, Clusters, and Diffusion: A Conceptual Framework”, The Annals of the American Academy of Political and Social Science, 598 (March), pp. 33-51

Emek, U. (2002) “Türkiye Uygulaması” (“The Turkish Case”), in: Bağımsız Düzenleyici Kurumlar ve Türkiye Uygulaması (Independent Regulatory Agencies and the Turkish Case), Publication No. TÜSİAD-T/2002-12/349, İstanbul

Fourcade-Gourinchas, Marion and Sarah L. Babb (2002) “The Rebirth of the Liberal Creed: Paths to Neoliberalism in Four Countries”, American Journal of Sociology, 108, 3 (November), pp. 533-579

Giraldi, Fabrizio (2002) “Policy Credibility and Delegation to Independent Regulatory Agencies: A Comparative Empirical Analysis", Journal of European Public Policy, 9, 6, pp. 873-893

Giraldi, Fabrizio (2004) Delegation in Regulatory State: Origins and Diffusion of Independent Regulatory Agencies in Western Europe, unpublished Ph. D. Dissertation, Université de Lausanne, Switzerland

Giraldi, Fabrizio (2005) “The Institutional Foundations of Regulatory Capitalism: The Diffusion of Independent Regulatory Agencies in Western Europe”, The Annals of the American Academy of Political and Social Science, 598 (March), pp. 84-101

Guasch, J. Luis and Pablo Spiller (1999) Managing the Regulatory Process: Design, Concepts, Issues, and the Latin America and Caribbean Story, Washington, D. C. :The World Bank

Haas, Peter M. (1992) “Introduction: Epistemic Communities and International Policy Coordination”, International Organization, 46, 1 (Winter), pp. 1-35

Hanley, Eric, Lawrence King, and Istvan Toth Janos (2002) “The State, International Agencies, and Property Transformation in Postcommunist Hungary”, The American Journal of Sociology, 108, 1, pp. 129-167

Henisz, Witold J., Bennet A. Zelner, and Mauro F. Guillén (2005) “The Worldwide Diffusion of Market-Oriented Infrastructure Reform, 1977-1999”, manuscript

International Monetary Fund (2005) “Colombia: Financial System Stability Assessment Update”, Washington, D.C.: IMF

International Monetary Fund, Independent Evaluation Office (2003) “The Role of IMF in Argentina, 1991-2002”, Washington, D.C.: IMF

International Monetary Fund, Policy Development and Review Department (2001a) “Conditionality in Fund-Supported Programs: Overview”, Washington, D.C.: IMF

International Monetary Fund, Policy Development and Review Department(2001b) “Streamlining Structural Conditionality: Review of Initial Experience”, Washington, D.C.: IMF

James, Oliver and Martin Lodge (2003) “The Limitations of ‘Policy Transfer’ and ‘Lesson Drawing’ for Public Policy Research”, Political Studies Review, 1, pp. 179-193

Jordana, Jacint and David Levi-Faur (2005) “The Diffusion of Regulatory Capitalism in Latin America: Sectoral and National Channels in the Making of a New Order”, The Annals of the American Academy of Political and Social Science, 598 (March), pp. 102-124

Katırcıoğlu, Engin E. N. and Akçay C. (1995) ‘‘The Impact of Trade Liberalization on the Turkish Manufacturing Industry: An Empirical Assessment’’ in R. Erzan (ed.), Policies for Competition and Competitiveness. pp. 33-51. Vienna: UNIDO

Karataş, Cevat. (2001) ‘‘Privatization in Turkey: Implementation, Politics of Privatization and Performance Results’’. Journal of International Development, 13, pp. 93-121

Krasner, Stephen D. (1984) “Approaches to the State: Alternative Conceptions and Historical Dynamics”, Comparative Politics, 16, 2, pp. 223-246

Lazer, David (2005) “Regulatory Capitalism as a Networked Order: The International System as an Informational Network”, The Annals of the American Academy of Political and Social Science, 598 (March), pp. 52-66

Levi-Faur, David (2003) “The Politics of Liberalisation: Privatisation and Regulation-for- Competition in Europe’s and Latin America’s Telecoms and Electricity Industries”, European Journal of Political Research, 42, pp. 705-740

Levi-Faur, David (2005) “The Global Diffusion of Regulatory Capitalism”, The Annals of the American Academy of Political and Social Science, 598 (March), pp. 12-32

Levinsohn, J. (1993) ‘‘Testing the Imports-As-Market-Discipline Hypothesis’’, Journal of International Economics, 35, pp. 1-22

Lindgren, Carl-Johan, Tomás J.T. Baliño, Charles Enoch, Anne-Marie Gulde, Marc Quintyn, and Leslie Teo (1999) “Financial Sector Crisis and Restructuring: Lessons from Asia”, Washington, D.C.: IMF

Majone, Giandomenico (1996) “Regulation and Its Modes: The European Experience”, International Journal of Public Administration, 19, 9, pp. 1597-1637

Meseguer, Covadonga (2005) “Policy Learning, Policy Diffusion, and the Making of a New Order”, The Annals of the American Academy of Political and Social Science, 598 (March), pp. 67-82

Metin-Özcan K., Voyvoda E. and Yeldan. E. (2000) “On the Patterns of Trade liberalization, Oligopolistic Concentration and Profitability: Reflections from post-1980 Turkish Manufacturing”, Department of Economics Discussion Paper No: 00-12, Bilkent University, Ankara.

Murillo, M. Victoria (2002) “Political Bias in Policy Convergence: Privatization Choices in Latin America”, World Politics, 54 (July), pp. 462-493

Nayar, Baldev Raj (1998) “Political Structure and India’s Economic Reforms of the 1990s”, PacificAffairs, 71, 3, pp. 335-358.

Organization for Economic Cooperation and Development (1999) “Regulatory Reform in Mexico”, Paris: OECD

Öniş, Z. and Riedel J. (1993) Economic Crises and Long-Term Growth in Turkey. World Bank Comparative Macroeconomic Studies. Washinton D.C.: World Bank.

Patton, Marcie J. (1999) “The U.S. Advisory Aid to Turkey: The Hines-Kemmerer Mission, 1933-1934” Working Paper MESV3-4, Yale Center for International and Area Studies, available at research.yale.edu/ycias/database/files/MESV3-4.pdf

Polillo, Simone and Mauro F. Guillén (2005) “Globalization Pressures and the State: The Worldwide Spread of Central Bank Independence”, American Journal of Sociology, 110, 6 (May), pp. 1764-1802

Radaelli, Cladio M. (2000) “Policy Transfer in the European Union: Institutional Isomorphism as a Source of Legitimacy”, Governance, 13, 1 (January), pp. 25-43

Sönmez, Ümit (2004) “Independent Regulatory Agencies: The World Experience and the Turkish Case”, Unpublished M.Sc. Thesis, Department of Political Science and Public Administration, Middle East Technical University, Ankara

Tan, Turgut (2000) "Bağımsız İdari Otoriteler (Autonomous Administrative Bodies)'' in İ. Atiyas (ed.), Devletin Düzenleyici Rolü: Türkiye'de Elektrik ve Telekomünikasyon Sektörlerinde Özelleştirme ve Rekabet (The Regulatory Role of State: Privatization and Competition in Turkish Electricity and Telecommunications Industries). Istanbul: Tesev Yayınları.

Teichman, Judith (2004) “The World Bank and Policy Reform in Mexico and Argentina”, Latin American Politics and Society, 46, 1, pp. 39-74.

Togan, Sübidey (1994) Foreign Trade Regime and Trade Liberalisation in Turkey during 1980's. London: Avebury Press.

Togan S. and Balasubramanyam V.N. (eds.) (1996) The Economy of Turkey Since Liberalization. London: Palgrave.

TÜSİAD (2002), Bağımsız Düzenleyici Kurumlar ve Türkiye Uygulaması, Yayın No. TÜSİAD-T/2002-12/349, İstanbul.

World Bank Operations Evaluation Department (2001) “Reforming India’s Energy Sector (1978-99)”, Précis, 206, pp. 1-4

Yalçın, Cahit. (2000). ‘‘Price-Cost Margins and Trade Liberalization in Turkish Manufacturing Industry: A Panel Data Analysis’’, Research Department Discussion Paper No. 37, Central Bank of the Republic of Turkey, Ankara.

Zenginobuz, E. Ü. (2002a) “Uluslararası Karşılaştırmalar”, in Bağımsız Düzenleyici Kurumlar ve Türkiye Uygulaması, Yayın No. TÜSİAD-T/2002-12/349, İstanbul

Zenginobuz, E. Ü. (2002b) “Political Economy of Independent Regulatory Authorities: Some Observations on the Case of Turkey”, manuscript, İstanbul.