Essays on infrastructure in Brazil
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This thesis encompasses five papers about two Brazilian infrastructure sectors: energy and road transportation. In the first paper, we model the bid in the Brazilian transmission lines auctions, in order to understand why the winning bids have been lower than one could expect. In the second paper, we estimate the electricity demand and the price and income elasticity of the consumers, using a new technique and including the 2001 Rationing period, which could have changed the consumers’ behavior. In the third paper, we study the evolution of the liquefied natural gas (LNG) market worldwide. The LNG could be a link to the natural gas markets and we test this hypothesis using time series and copulas analysis. In the fourth paper, we discuss the entrance of the LNG in the national electricity market. Finally, in the last paper, we analyze the Road concession experience in Brazil. We add new insights about the auction model used in this sector and also about the contract design.