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Reforming the Power Sector in Transition: Do Institutions Matter? /  Rabindra Nepal and Tooraj Jamasb. EPRG, Feb. 2011 (working paper ; 1109)http://www.eprg.group.cam.ac.uk/wp-content/uploads/2011/02/Nepal-Jamasb_1109.pdf This paper quantitatively explores  high-level links between power sector reforms and wider institutional  reforms in the economy for a set of 27 diverse countries in rapid  political and economic transition since 1990. Panel-data econometrics  based on bias corrected dynamic fixed effect analysis (LSDVC) is  performed to assess the impact of reforms on macroeconomic and power  sector outcomes. The results indicate that power sector reform is indeed  a more complicated process than initially perceived. The results also  show that power sector reform is greatly inter-dependent with reforms in  other sectors in the economy. We conclude that the success of power  sector reforms on outcomes in developing countries will largely depend  on the extent in which countries are able to synchronize inter-sector  reforms in the economy.