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Easier Set Than Done: Stakeholder Engagement as Public-Private Partnership in Regulatory Policy of South Korea

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  • Lee, Jongyearn

Abstract

An emphasis on public-private partnership (PPP) in the regulatory policy process can overcome the challenges hindering regulatory effectiveness with the emergence of fast developing technologies and new industries. This study attempts to evaluate quantitatively different aspects of institutional settings of South Korean regulatory policy in terms of stakeholder engagement as PPP, using evidence-based data released by the OECD. From the results of the principal component analysis, South Korea can be evaluated as being at a very good level overall in its institutional establishment. Nevertheless, the fact that the outcome of regulatory reforms in South Korea is still insufficient compared with this well-established system suggests that the country should concentrate on improving system operation. Consequently, this study makes policy suggestions to improve regulatory effectiveness through PPP by supplementing the facets that are well-equipped but not feasible with respect to regulatory policy cycle, regulatory governance, regulatory method, and conflict resolution.

Suggested Citation

  • Lee, Jongyearn, 2019. "Easier Set Than Done: Stakeholder Engagement as Public-Private Partnership in Regulatory Policy of South Korea," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 41(3), pages 39-75.
    • Handle: RePEc:zbw:kdijep:204689
    DOI: 10.23895/kdijep.2019.41.3.39
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    References listed on IDEAS

    as
    1. Sounman Hong & Taek Kyu Kim, 2018. "Public–private partnership meets corporate social responsibility—the case of H-JUMP school," Public Money & Management, Taylor & Francis Journals, vol. 38(4), pages 297-304, June.
    2. Rex Deighton-Smith & Angelo Erbacci & Céline Kauffmann, 2016. "Promoting inclusive growth through better regulation: The role of regulatory impact assessment," OECD Regulatory Policy Working Papers 3, OECD Publishing.
    3. Christiane Arndt & Antonia Custance Baker & Tobias Querbach & Rebecca Schultz, 2015. "2015 Indicators of Regulatory Policy and Governance: Design, Methodology and Key Results," OECD Regulatory Policy Working Papers 1, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Regulatory Policy Process; Public-Private Partnerships; Stakeholder Engagement;
    All these keywords.

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions

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