  This paper analyzes the effective capacity of delay constrained machine type
communication (MTC) networks operating in the finite blocklength regime. First,
we derive a closed-form mathematical approximation for the effective capacity
in quasi-static Rayleigh fading channels. We characterize the optimum error
probability to maximize the concave effective capacity function with
reliability constraint and study the effect of
signal-to-interference-plus-noise ratio (SINR) variations for different delay
constraints. The trade off between reliability and effective capacity
maximization reveals that we can achieve higher reliability with limited
sacrifice in effective capacity specially when the number of machines is small.
Our analysis reveals that SINR variations have less impact on effective
capacity for strict delay constrained networks. We present an exemplary
scenario for massive MTC access to analyze the interference effect proposing
three methods to restore the effective capacity for a certain node which are
power control, graceful degradation of delay constraint and joint compensation.
Joint compensation combines both power control and graceful degradation of
delay constraint, where we perform maximization of an objective function whose
parameters are determined according to delay and SINR priorities. Our results
show that networks with stringent delay constraints favor power controlled
compensation and compensation is generally performed at higher costs for
shorter packets.
