If its an 84 1.9, there will be two thickish red wires that act as one. They will more than likely terminate in the black box at the back, towards the left of the engine compartment?
If both red wires are the same size, they should in fact be acting as one (ie doubled-up). If one is reading zero volts, it might be cut/disconnected en route. That may explain reduced alternator output at battery end as the ouput is running through one, thinner cable. Definately replace voltage regulator but see if my WIKI on this helps as its about reduced voltage and is probably same layout as yours:
https://club8090.co.uk/wiki/VW ... ain_cables" onclick="window.open(this.href);return false;
Pay attention to pic 2 (and pic3), as thats the black box and state of those wires on mine. I cut those two red wires and ran a new thicker cable direct to starter - as explained. You'll struggle a bit as your alternator will only accept spade or a plug terminal. Just check connections across the board. If its all old and showing signs of acid corrosion, rewire as I did. I gained a volt or two afterwards.