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Managing the Regulatory Process: Design, Concepts, Issues, by J Luis Guasch, Pablo T Spiller

Posted On February 25, 2017 at 8:45 am by / Comments Off on Managing the Regulatory Process: Design, Concepts, Issues, by J Luis Guasch, Pablo T Spiller

By J Luis Guasch, Pablo T Spiller

'...developing nations, complementing their far-reaching privatization courses, are engaged in deregulating a variety of sectors in their economies and devising new regulatory frameworks for others, quite the utilities sectors.' As economies develop into extra open, pressures on nations to develop into extra aggressive force the decision for regulatory reform to lessen expenditures and foster elevated productiveness, competitiveness, and progress. This record presents an summary of the prices and advantages of rules in the course of the international. It offers case histories of rules in numerous international locations, built and constructing and in a number of sectors, equivalent to, transportation, utilities, and tool. It offers varied thoughts that have been hired. moreover, it identifies classes realized and lays the principles for a top perform state of affairs for different nations to undertake. whereas the demanding situations to regulatory reform are massive, so are the efforts that constructing nations are making to stand them. those classes, whilst accurately tailored to every country's personal setting, can considerably elevate the possibility of potent rules.

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Extra resources for Managing the Regulatory Process: Design, Concepts, Issues, and the Latin America and Caribbean Story (World Bank Latin American and Caribbean Studies. Viewpoints)

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98 subject : Trade regulation--Latin America, Industrial policy--Latin America, Deregulation--Latin America. Page i Managing the Regulatory Process: Design, Concepts, Issues, and the Latin America and Caribbean Story WORLD BANK LATIN AMERICAN AND CARIBBEAN STUDIES Viewpoints J. C. W. C. A. All rights reserved Manufactured in the United States of America First printing July 1999 The findings, interpretations, and conclusions expressed in this paper are entirely those of the author(s) and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent.

The firm usually is better informed than the regulator; moreover, it rarely has an incentive to tell the regulator all it knows. Such "information asymmetries" imply that economic regulation will rarely achieve a "first-best" or efficient outcome. In addition, uncertainty or the lack of accurate estimates of the byproduct or external effects of agents' actions or new products can induce inefficient regulation. This is very common when considering social regulation. The regulator imposing social regulation must frequently base decisions on very limited information (Lewis 1996).

Economy during the 1960s and 1970s, when productivity growth (output per person-hour) declined considerably and government regulations accelerated, using three measures of aggregate regulation: the cumulative number of major pieces of regulatory legislation in effect, the amount of federal expenditures on regulatory activities, and the number of full-time federal personnel engaged in regulatory activity. S. manufacturing during 1973-77, as compared with 1958-65, was due to the expansion of federal regulation.

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