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Expert Advice and Regulatory Complexity

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  • Heyes, Anthony G

Abstract

Ex-regulators often enjoy lucrative periods either working for, or selling advice to, the industry they previously policed. Conventional wisdom is that such jobs are rewards for earlier favors and indicate capture of the regulator by the industry. In the model here, successive generations of regulators maintain an excessively opaque "regulatory interface". The opacity underpins their post-regulatory employability and has, we will argue, a self-sustaining character. The analysis points to a causal link between the phenomenon of the revolving door, the oft-alleged over-complexity of regulatory practices and procedures, and resistance to their reform. The industry can be said to have been "captured" by the regulator. Cooling-off periods may or may not be useful in mitigation. Copyright 2003 by Kluwer Academic Publishers

Suggested Citation

  • Heyes, Anthony G, 2003. "Expert Advice and Regulatory Complexity," Journal of Regulatory Economics, Springer, vol. 24(2), pages 119-133, September.
  • Handle: RePEc:kap:regeco:v:24:y:2003:i:2:p:119-33
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    1. repec:kap:regeco:v:52:y:2017:i:2:d:10.1007_s11149-017-9338-6 is not listed on IDEAS
    2. Christiansen, Arndt, 2005. "Der "more economic approach" in der EU-Fusionskontrolle - eine kritische Würdigung," Research Notes 21, Deutsche Bank Research.
    3. Andreas Schulze, 2004. "Alternative Liberalisierungsansätze in Netzindustrien," Volkswirtschaftliche Diskussionsbeiträge 64, Universität Potsdam, Wirtschafts- und Sozialwissenschaftliche Fakultät.
    4. Andreas Schulze, 2004. "Liberalisierungen in Netzindustrien aus polit-ökonomischer Sicht - Eine positive Analyse der Interessenbedingtheit von Privatisierungen und Marktöffnungen am Beispiel netzgebundener Wirtschaftsbereich," Volkswirtschaftliche Diskussionsbeiträge 68, Universität Potsdam, Wirtschafts- und Sozialwissenschaftliche Fakultät.

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