The Theory of Economic Regulation applied to the Brazilian Mining Sector
Palabras clave:
Regulation. Economic theory. Mining.Resumen
Purpose ”“ The article provides an assessment of the regulatory environment of the Brazilian mining sector and its theorization based on the theory of economic regulation. Upon such assessment, it will be possible to discuss the behavior of the regulator and to verify whether the theory of economic regulation is satisfactory for the analysis of the regulatory environment.
Methodology/approach/design ”“ The theory of economic regulation will be reviewed to define its boundaries and applicability, based on George Stigler and Richard Posner. Further, the Brazilian mining sector and its new regulator (the National Mining Agency ”“ ANM) will be presented to establish the setting for testing the theory of economic regulation. The test will be undertaken by reviewing the Normative Consolidation and the regulation applicable to tailings dams, considering the regulatory relevance of those subjects. The results of the test will be confronted with those anticipated by the theory of economic regulation.
Findings ”“ The results of the empirical analysis differ from what was anticipated by the exclusive application of the theory. There are elements that do evidence the prevalence of economic interests over the regulator. Nonetheless, further analysis that incorporates technical and procedural data is required in order to verify the actual influence of economic agents during the regulatory process in the mining sector.
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Al enviar este documento a la Revista de Derecho, Estado y Telecomunicaciones, declaro que estoy aceptando los términos de Creative Commons Attribution 4.0 International (CC BY 4.0), disponible en http://creativecommons.org/licenses/by/4.0.