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Standardization and Compliance Costs: Relevant Developments at EU Level

In: Business Regulation and Public Policy

Author

Listed:
  • Frank A. G. den Butter

    (Free University Amsterdam)

  • John Hudson

Abstract

This article discusses government regulation and the consequent compliance costs for the private sector from the perspective of transaction cost economics. In many cases, government regulation is shaped as legally binding standards. In order to comply with these standards, private sector firms meet various types of transaction costs, such as the bonding costs that the principal/agent relationship of government regulation brings about. On the other hand, good standards may reduce transaction costs. Therefore, optimal design of government regulation requires the design of standards with the lowest possible transaction costs. Due to network externalities and economics of scale, and in order to guarantee a level playing field, good coordination and unifying standards within the EU can be beneficial. This article provides examples of such standards.

Suggested Citation

  • Frank A. G. den Butter & John Hudson, 2009. "Standardization and Compliance Costs: Relevant Developments at EU Level," International Studies in Entrepreneurship, in: André Nijsen & John Hudson & Christoph Müller & Kees Paridon & R. Thurik (ed.), Business Regulation and Public Policy, chapter 0, pages 1-15, Springer.
    • Handle: RePEc:spr:inschp:978-0-387-77678-1_10
    DOI: 10.1007/978-0-387-77678-1_10
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    Cited by:

    1. Arjen van Witteloostuijn & Marcus Dejardin & Julie Hermans & Dendi Ramdani, & Johanna Vanderstraeten & Jacqueline Brassey & Hendrik Slabbinck, 2015. "Fitting entrepreneurial, firm-level and environmental contingencies for better performance," Post-Print halshs-01379907, HAL.
    2. Dendi Ramdani & Arjen Witteloostuijn & Johanna Vanderstraeten & Julie Hermans & Marcus Dejardin, 2019. "The perceived benefits of the European Union standardization. An exploration according to firm size and firm capabilities," International Economics and Economic Policy, Springer, vol. 16(2), pages 379-396, April.

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