New book addresses railway regulation

The book ‘Regulação das Ferrovias’ [Railway Regulation], which will be launched by FGV Press and FGV’s Brazilian Institute of Economics (IBRE) on November 22.
Regulation
17 November 2017
New book addresses railway regulation

In the wake of changes to the Brazilian railway sector’s regulations, implemented in 2011, researcher Armando Castelar Pinheiro and lawyer Leonardo Coelho Ribeiro drew an outline of the sector in the country. The book ‘Regulação das Ferrovias’ [Railway Regulation], which will be launched by FGV Press and FGV’s Brazilian Institute of Economics (IBRE) on November 22 (Wednesday), at 6 p.m., at FGV Bookstore (Praia de Botafogo, 190. Rio de Janeiro), brings a historical overview of the sector since its creation in the 19th century, besides analyses of the sector’s regulations worldwide and the economic impact of recent legal changes in this field in Brazil.

“Our view is that there is a gap in the discussion surrounding the sector’s regulation, which is extremely important for the economy. It lacked proper records; discussion on legal theories and concepts about what was being done (recent changes in legislation), as well as the context of Brazil in a broader international process. The idea is to provide a reference for those working in this field, so that they can consult and understand the concepts, and how other countries are dealing with the same issue,” said Pinheiro, Coordinator of Applied Economics at IBRE.

Divided into ten chapters, the book didactically covers the railway sector from a regulatory perspective, beginning with a historical view, the sector’s emergence in the country and the structure of the Transport area, including information about other modes, governmental framework, and regulatory agencies. The authors also address vertical concessions, competition in the sector, and an in-depth analysis of the regulatory reforms implemented in Europe and in countries such as United States, Australia, UK, and Japan. The goal is for the book to be used as a source of learning and teaching.

The regulatory reforms that took place in the sector in Brazil in 2011 and in the 2012-2013 period, as well as the tariff review in 2012, deserved special attention by Ribeiro, who holds a Master’s in Public Law, and Pinheiro, who proposes the definition of clearer laws for the railway sector.

“Brazil definitely has room to expand its railway network and make new investments. But there are several problems that hinder new projects in the sector, such as the economic recession and the fact that this sector requires high investments with high risk. Regulatory uniformity is one of the factors that could help. Because nowadays it is a hybrid model of regulation that is unclear about what is valid or not. It is necessary to synthesize the current rules in a new format,” said the IBRE researcher.

Go to this website for more information on the book.