A decade long experience shows that monitoring the approach that relies on performance rankings based on performance of public and private monopolies in South comparative efficiency measures. The authors show that America is proving to be the hard part of the reform with the rather modest data currently available publicly, process. The operators who control most of the such an approach could yield useful results. They provide information needed for regulatory purposes have little estimates of efficiency levels in South America's main interest in volunteering their dissemination unless they distribution companies between 1994 and 2000. have an incentive to do so. Estache, Rossi, and Ruzzier Moreover, the authors show how relatively simple tests argue that, in spite of, and maybe because of, a much can be used by regulators to check the robustness of their weaker information base and governance structure, results and strengthen their position at regulatory South America's electricity sector could pursue an hearings.This paper-a joint product of the Governance, Regulation, and Finance Division, World Bank Institute, and the Finance, Private Sector, and Infrastructure Unit, Latin America and the Caribbean Region-is part of a larger effort in the institute to increase understanding of infrastructure regulation. Copies of the paper are available free from the World Bank,

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A decade long experience shows that monitoring the approach that relies on performance rankings based on performance of public and private monopolies in South comparative efficiency measures. The authors show that America is proving to be the hard part of the reform with the rather modest data currently available publicly, process. The operators who control most of the such an approach could yield useful results. They provide information needed for regulatory purposes have little estimates of efficiency levels in South America's main interest in volunteering their dissemination unless they distribution companies between 1994 and 2000. have an incentive to do so. Estache, Rossi, and Ruzzier Moreover, the authors show how relatively simple tests argue that, in spite of, and maybe because of, a much can be used by regulators to check the robustness of their weaker information base and governance structure, results and strengthen their position at regulatory South America's electricity sector could pursue an hearings.This paper-a joint product of the Governance, Regulation, and Finance Division, World Bank Institute, and the Finance, Private Sector, and Infrastructure Unit, Latin America and the Caribbean Region-is part of a larger effort in the institute to increase understanding of infrastructure regulation. Copies of the paper are available free from the World Bank,

This paper empirically investigates whether changes in product market competition a¤ect …rm boundaries. Exploiting regulation-induced shocks to entry barriers and di¤erences in regulation enforcement across cities to obtain exogenous variation in competition, we establish a negative causal e¤ect of competition (through reduced entry barriers and a larger number of rival …rms) on vertical integration in the setting of the Spanish local television industry between 1995 and 2002. JEL Codes: D22, L22, L24, L82

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