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Regulatory responsiveness in India: A normative and empirical framework for assessment

Author

Listed:
  • Anirudh Burman

    () (National Institute of Public Finance and Policy)

  • Bhargavi Zaveri

    () (Indira Gandhi Institute of Development Research)

Abstract

This paper seeks to measure the extent to which Indian regulators are responsive in the performance of their functions. The paper focuses on one function common to all Indian statutory regulators, namely, regulation making. To measure responsiveness, the paper constructs an index of benchmarks of responsive conduct, with corresponding quantifiable outputs. It empirically measures the responsiveness of the telecom and securities markets regulators in India, on this index. The paper finds that there are significant differences among the laws governing Indian regulators in the context of the requirement to be responsive, and that the degree of responsiveness of Indian regulators is directly proportional to the legal requirement for following participatory processes.

Suggested Citation

  • Anirudh Burman & Bhargavi Zaveri, 2016. "Regulatory responsiveness in India: A normative and empirical framework for assessment," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2016-025, Indira Gandhi Institute of Development Research, Mumbai, India.
  • Handle: RePEc:ind:igiwpp:2016-025
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    File URL: http://www.igidr.ac.in/pdf/publication/WP-2016-025.pdf
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    References listed on IDEAS

    as
    1. Braithwaite, John, 2006. "Responsive regulation and developing economies," World Development, Elsevier, vol. 34(5), pages 884-898, May.
    2. repec:cup:apsrev:v:77:y:1983:i:01:p:175-190_24 is not listed on IDEAS
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    More about this item

    Keywords

    Regulatory performance; regulatory accountability; regulatory responsiveness; regulatory benchmarking; legal basis for responsiveness;

    JEL classification:

    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • P34 - Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
    • P37 - Economic Systems - - Socialist Institutions and Their Transitions - - - Legal
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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