Policy Research Working Paper
1. State-centric institutions can rapidly and successfully develop a power sector with concerted efforts, notwithstanding the opportunity for well-regulated competition and private sector participation to improve efficiency and financial viability.
2. Gradual reform steps offer the opportunity to build consensus each step of the way and learn by doing. This can lead to different outcomes than expected, as policy drivers evolve.
3. The sequence of reforms matters. Introducing market mechanisms ahead of other vital elements may limit their effectiveness and make subsequent reform steps more difficult