The authors study the impact of institutional characteristics of national and supranational regulation on the effectiveness of both types of regulation. The focus is on four institutional dimensions: regulatory capacity, accountability, commitment and fiscal capacity. It is shown how supranational regulation may reduce or worsen the challenges imposed by national institutional weaknesses. The analysis allows an identification of the costs and benefits of supranational regulation in very diversified institutional contexts. It also explains why some desirable changes from a global welfare perspective are unlikely to take place unless the losers of market integration are somehow compensated when national regulation is unlikely to do so as a result of some of its weaknesses.
This paper highlights the private sector involvement in investments to ease national fiscal constraints and to enhance efficiency in the provision of key services.
This Discussion Paper presents a normative concept of green industrial policy, which is defined as encompassing any policy measure aimed at aligning the structure of a country’s economy with the needs of sustainable development within established planetary boundaries.
Green industrial policies can be defined as industrial policies with an environmental goal - or more precisely, as sector-targeted policies that affect the economic production structure with the aim of generating environmental benefits.
Economic recession has limited national budget spending and the lending capacities of commercial banks for the realization of infrastructure projects in the field of energy generation, transmission and distribution.