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Regulatory Institutions And Structures

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  • A. Ogus

Abstract

This article presents a legal perspective on regulatory institutions, procedures and processes. Analysis of legal instruments examines justifications for regulatory interventions, and considers the inadequacies of private law remedies to instances of market failure (such as monopolies, inadequate or asymmetric information, externalities and co–ordination problems). A distinction is drawn between social and economic regulation: the former deals with such matters as health and safety, and environmental and consumer protection; and the latter is needed where there is insufficient competition. Instruments of social regulation include prior approval, mandatory standards and information disclosure. A range of instruments of economic regulation is also assessed, including competition law, public ownership, price and quality regulation, and competitive public franchising. Analysis of regulatory processes focuses on regulatory rule–making, delegated regulation and self–regulation. Particular weight is given to different forms of accountability—financial, procedural and substantive—which draws attention to the significance of the public interest dimension of regulatory systems.

Suggested Citation

  • A. Ogus, 2002. "Regulatory Institutions And Structures," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 73(4), pages 627-648, December.
    • Handle: RePEc:bla:annpce:v:73:y:2002:i:4:p:627-648
    DOI: 10.1111/1467-8292.00208
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    Cited by:

    1. Jennifer Kuzma & Jordan Paradise & Gurumurthy Ramachandran & Jee‐Ae Kim & Adam Kokotovich & Susan M. Wolf, 2008. "An Integrated Approach to Oversight Assessment for Emerging Technologies," Risk Analysis, John Wiley & Sons, vol. 28(5), pages 1197-1220, October.
    2. Scheele, Ulrich, 2007. "Privatisierung, Liberalisierung und Deregulierung in netzgebundenen Infrastruktursektoren," Forschungs- und Sitzungsberichte der ARL: Aufsätze, in: Gust, Dieter (ed.), Wandel der Stromversorgung und räumliche Politik, volume 127, pages 35-67, ARL – Akademie für Raumentwicklung in der Leibniz-Gemeinschaft.
    3. Assaf, Dan, 2008. "Models of critical information infrastructure protection," International Journal of Critical Infrastructure Protection, Elsevier, vol. 1(C), pages 6-14.
    4. Eva Niesten, 2006. "Regulatory Institutions And Governance Transformations In Liberalising Electricity Industries," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 77(3), pages 291-307, September.
    5. Minogue, Martin, 2008. "What connects regulatory governance to poverty?," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(2), pages 189-201, May.
    6. Nepal, Rabindra & Menezes, Flavio & Jamasb, Tooraj, 2014. "Network regulation and regulatory institutional reform: Revisiting the case of Australia," Energy Policy, Elsevier, vol. 73(C), pages 259-268.
    7. Heeks, Richard & Duncombe, Richard, 2003. "Ethical Trade: Issues in the Regulation of Global Supply Chains," Centre on Regulation and Competition (CRC) Working papers 30674, University of Manchester, Institute for Development Policy and Management (IDPM).
    8. Cosmina Lelia Voinea & Hans Kranenburg, 2018. "Feeling the Squeeze: Nonmarket Institutional Pressures and Firm Nonmarket Strategies," Management International Review, Springer, vol. 58(5), pages 705-741, October.
    9. Antonio Estache & L. Wren-Lewis, 2008. "Towards a Theory of Regulation for Developing Countries: Following Laffont's Lead," Working Papers ECARES 2008_018, ULB -- Universite Libre de Bruxelles.

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