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Judiciary and regulatory policy

Author

Listed:
  • Rafael Silveira e Silva
  • Álvaro P. S. Costa Júnior

Abstract

Increasingly, judges and the courts appear as actors capable of affecting the trajectory of the government decisions, as strategic agents in the policy process. This paper presents an analytical model able to clearly and objectively measure the impact of judicial review in the design of policies in the sphere of economic regulation. Underlying the model is the concept of transaction costs, through which one can raise the levels of intervention of the judiciary in regulatory policy. In addition to the analytical model, the article demonstrates that the interaction between the heterogeneity of preferences in the courts and institutional mechanisms of the justice system is capable of generating greater coordination and cooperation than expected. JEL Classification: K12; K23; K41; P46.

Suggested Citation

  • Rafael Silveira e Silva & Álvaro P. S. Costa Júnior, 2011. "Judiciary and regulatory policy," Brazilian Journal of Political Economy, Center of Political Economy, vol. 31(4), pages 659-678.
    • Handle: RePEc:ekm:repojs:v:31:y:2011:i:4:p:659-678:id:426
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/426/417
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    More about this item

    Keywords

    Judiciary; regulatory policy; judicialization; transaction costs;
    All these keywords.

    JEL classification:

    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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