Competition Regulation And Regulatory Governance

Seminar paper from the year 2018 in the subject Business economics - Economic Policy, grade: 1, , language: English, abstract: In the global economy, privatization has become a central issue within economic reforms taking place in developing countries, and it is associated with the neo-liberal model reforms from the 1980's. Developing countries struggle to maintain high standards in public services such as water, energy, telecommunications, transportation, health, education, and, therefore, the adoption of policies to increase the effectiveness are needed. Privatization in theory should help these entities to become more efficient and benefit the majority of the population though, in practice, these objectives are rarely accomplished. The role of competition and regulation in such businesses are essential for development and growth, especially through the injection of private capital and fostering of competition. The principal common factor of these businesses is the natural component of monopolies which, according to Hellwig (2008), represents the use of a fixed network infrastructure that translates into largely sunk costs. Federal reforms aim for the improvement of performance in such important sectors of public services; however much of the research proves that; this has been reasonably unsuccessful in developing countries based on lack of institutional capacity. Even in theory, regulatory framework imported from developed countries was not suitable to the social and economic context in developing countries consequently the application of such previous experiences was not productive. This paper attempts to show that competition and regulation in the privatization process within developing countries could be successful if necessary reforms are based on the country’s economic, social, and political structure. As mentioned, the privatization process, as successfully applied in developed countries, requires significant adjustment for it to be pursued in transitional economies. This paper has been divided into five sections. The first section focuses on the concepts of privatization, competition and regulation. The second analyses how the role of RIA (Regulatory Impact Assessment) could increase privatization efficiency. On the other hand, the third analyses some system utilities and privatization reforms; then how competition could improve the business on privatization. The fourth section provides the control legal framework for businesses to follow. The paper concludes with recommendations and a brief summary and critique of the findings.

The promotion of liberalized and deregulated markets by bilateral and multilateral aid donors, and by global institutions such as the WTO, has led to significant attention being paid to competition and regulatory reforms in developing economies. The process of reform involves the transfer and diffusion of market models derived from practice and theory in developed countries. However, in developing countries, regulation needs to do more than simply promote competitiveness and consumer interests: it also needs to ensure that the market nurtures development. By rigorously examining the numerous impacts of regulation, this book will help to fill a significant gap in the literature on economic and social development. The book, now available in paperback, draws together contributions from leading experts across a range of disciplines including economics, law, politics and governance, public management and business management. The authors begin with an extensive overview of the issues of regulation and competition in developing countries, and carefully illustrate the important themes and concepts involved. Using a variety of country and sector case studies, they move on to focus on the problems of applicability and adaptation that are experienced in the process of transferring best practice policy models from developed to developing countries. The book presents a clear agenda for further empirical research and is notable for its rigorous exploration of the links between theory and practice. Although there is substantial interest in competition and regulation, as yet there has been relatively little investigation of these issues in developing economies. This book redresses the balance and will be a valuable resource for researchers, academics, teachers and students interested in development economics and development studies. It will also be of great relevance for practitioners and policymakers working in the fields of competition policy and regulatory reform.

Provides a review of regulatory reforms in developing countries, with a particular focus on the strengths and weaknesses of the 'best practice' model of reform, the significance of institutions of regulatory governance, and the impact of post-privatisation governance on development and poverty reduction agendas.

Regulation, Markets and Poverty analyses the policy implications of research into issues of competition, regulation and regulatory governance in developing countries. Particular attention is paid to factors affecting poverty and to the connection between regulation, competition and poverty. It represents the culmination of research undertaken in the past five years by the Centre on Regulation and Competition. Written in a non-technical manner with references to the more technical literature, each chapter draws on the work of leading experts across a range of disciplines who frequently challenge conventional wisdom. This accessible and lively study will appeal to policymakers and practitioners dealing with regulation and competition in developing countries, postgraduate students of regulation, competition, public policy and international business. Staff of international development agencies and NGOs working on governance issues, competitiveness, utility policy and infrastructure investment will also find this important book of value and interest.

"Regulatory competition within Europe and internationally, operates in several fields with different outcomes. This book offers a comparative legal and economic analysis of corporate, securities and competition law, exploring the reasons behind such differences. The books conceptual framework covers the most relevant drivers of competition, including legal actors incentives, channels of competition and governance design. It shows how the different drivers and institutional designs are shaping competitive interactions, drawing relevant conclusions for both general and field specific regulatory policy. Providing a comparative analysis of regulatory competition in three legal fields, this book will be a valuable resource for researchers and academics in law, economics and political science, as well as policymakers legislator, regulator, judiciary at both national and European levels."--Publisher

This report encourages governments to “think big” about the relevance of regulatory policy and assesses the recent efforts of OECD countries to develop and deepen regulatory policy and governance.

These changes, together with the general advance in the study of regulation, undoubtedly demand a re-evaluation of the theory of regulation, its methodologies and scope of application. This book is a perceptive investigation of recent evolutions in the manner and extent of governance through regulation. Scholars and students of comparative politics, public policy, regulation theory, institutional economics and political sociology will find it to be essential reading. It will also prove a valuable source of reference for those working or dealing with regulatory authorities and for business managers in private industries and services operating under a regulatory framework.

The OECD has collectively underlined the importance of a high quality regulatory environment since the mid 1990s when the Council adopted the 1995 Recommendation on Improving the Quality of Government Regulation and its checklist as the first ...