The Governance Of Regulators Shaping The Future Of Regulators The Impact Of Emerging Technologies On Economic Regulators

The pace and scope of emerging technologies are creating a sea change for governments and for regulators. This report brings together case studies submitted by members of the OECD Network of Economic Regulators that highlight how regulators have analysed and tackled these issues.

The pace and scope of emerging technologies are creating a sea change for governments and for regulators. They challenge economic regulation by blurring the traditional definition of markets, for example, and by transcending administrative boundaries domestically and internationally. At the same time, the digital transformation is an excellent opportunity for regulators themselves to harness the power of data and digital tools to improve regulation and its delivery. Seizing this opportunity will require fit-for-purpose regulatory frameworks and governance arrangements. This report brings together case studies submitted by members of the OECD Network of Economic Regulators that highlight how regulators have analysed and tackled these issues. The case studies span nine countries and a wide range of sectors (communication, transport, energy, environmental protection) and provide concrete examples of how regulators are responding to innovation in the sectors that they oversee.

The pace and scope of emerging technologies are creating a sea change for governments and for regulators. They challenge economic regulation by blurring the traditional definition of markets, for example, and by transcending administrative boundaries domestically and internationally. At the same time, the digital transformation is an excellent opportunity for regulators themselves to harness the power of data and digital tools to improve regulation and its delivery. Seizing this opportunity will require fit-for-purpose regulatory frameworks and governance arrangements. This report brings together case studies submitted by members of the OECD Network of Economic Regulators that highlight how regulators have analysed and tackled these issues. The case studies span nine countries and a wide range of sectors (communication, transport, energy, environmental protection) and provide concrete examples of how regulators are responding to innovation in the sectors that they oversee.

This report discusses the implications of funding and staff arrangements for the autonomy, agility, accountability and transparency of regulators in the energy, e-communications, transport and water sectors. It identifies trends, challenges, opportunities and good practices, drawing upon survey responses from 57 economic regulators across 31 countries.

The COVID-19 pandemic has highlighted the crucial role regulation plays in the economy and society, but has also exposed gaps in domestic and international rule-making that have cost lives and money. The 2021 Regulatory Policy Outlook, the third in the series, maps country efforts to improve regulatory quality in line with the 2012 OECD Recommendation on Regulatory Policy and Governance, and shares good regulatory practices that can help close the gaps.

Low-emission hydrogen is expected to play an important role in the energy transition to tackle the climate crisis. It can decarbonate “hard-to-abate” sectors still relying on fossil fuels, turn low-carbon electricity into a fuel that can be transported using pipelines and provide a green transport alternative, in particular for heavy-duty and long-distance transport.

This book focuses on Fintech regulation in Asian, situating local developments in broader economic, regulatory and technological contexts. Over the last decade, Fintech – broadly defined as the use of new information technologies to help financial institutions and intermediaries compete in the marketplace – has disrupted the financial services sector. Like other 21st century technological developments, Fintech is a global phenomenon that plays out in local economic, political and regulatory contexts, and this dynamic interplay between global trends and local circumstances has created a complex and fast-changing landscape. Diverse stakeholders (most obviously incumbent financial service providers, tech start-ups and regulators) all pursue a competitive edge against a background of profound uncertainty about the future direction and possible effects of multiple emerging technologies. Compounding these difficulties are uncertainties surrounding regulatory responses. Policymakers often struggle to identify appropriate regulatory responses and increasingly turn to policy experimentation. Such issues add to the challenges for the various actors operating in the Fintech space. This situation is particularly fluid in Asia, since many jurisdictions are seeking to establish themselves as a regional hub for new financial services.

The pace and scope of innovation are challenging the way governments regulate. Existing regulatory frameworks might not be agile enough to accommodate the fast pace of technological development and, as a consequence, rules might become outdated.