Responsive regulation:achieving the right balance between persuasion and penalisation
This paper not only considers the regulatory challenges faced by regulators, but also the potential of responsive regulation and particularly meta regulation to address these challenges. It explores developments which have necessitated a change from the traditional form of regulation, that is, command and control regulation to more responsive hybrids of regulation. Even though traditional regulation has its advantages, its inability to address the demands of changing business environments has resulted in the adoption of more flexible forms of regulation such as risk based regulation and responsive regulation. Whilst the potential of responsive regulation is considered, the complexities and challenges faced by the regulator in identifying and assessing risk, solutions aimed at countering problems of risk regulation, along with the problems arising from different perceptions of risk will be addressed only briefly.
|Date of creation:||Mar 2009|
|Date of revision:||Jun 2009|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Baldwin, Robert & Cave, Martin & Lodge, Martin, 2011.
"Understanding Regulation: Theory, Strategy, and Practice,"
Oxford University Press,
edition 2, number 9780199576098.
- Baldwin, Robert & Cave, Martin, 1999. "Understanding Regulation: Theory, Strategy, and Practice," OUP Catalogue, Oxford University Press, number 9780198774389.
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