Percorrer por autor "Mota, J."
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- Do regulatory mechanisms promote competition and mitigate market power?: evidence from spanish electricity marketPublication . Moutinho, V.; Moreira, Antonio; Mota, J.This paper estimates t e relationships between bidding quantities, marginal cost and market power measures in the Spanish wholesale electricity market for two different regulatory periods: 2002–2005 and 2006–2007. Using panel econometric techniques we find differences in the impacts on bidding strategies for both periods. Hence, the marginal cost and the market power measures affect bid and net quantities. The market power measures also suggest that the coefficient is consistently positive and highly significant for both periods. Moreover, the market power and marginal costs have mixed effects according to the models proposed for both periods. In addition, our results point to the effectiveness of the different effects of mitigating the market power in the Spanish electricity market. For the 2006–2007 period, the proposed causal relationships are partially validated by the cointegration results, which assumes there is a significant causality between the Lerner Index and the marginal cost.
- The importance of non-financial determinants on public-private partnerships in EuropePublication . Mota, J.; Moreira, AntonioIn previous work regarding public–private partnership (PPP) arrangements the theoretical rationales and empirical results have mainly focused on analyzing the importance of quantitative features related to budget constraints deriving from public deficits, the existence of an infrastructure gap and the efficiency hypothesis. Thus, this study aims to identify the underlying determinants behind the proliferation and execution of PPPs, emphasizing the importance that non-financial (such as political, legal and macroeconomic) determinants have in establishing a PPP, as well as the factors that enhance the attractiveness of a country to encourage the private sector through PPPs in the European context. The results of this study show that the macroeconomic environment – represented by economic freedom, competitiveness and the unemployment rate – is essential for PPPs, as well as the legal system, where regulatory quality and effective rule of law are associated with the effective execution of a PPP. The political environment and previous experience of PPPs are also key factors in making a country more attractive for establishing PPPs.