What is it about?

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. 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.

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Why is it important?

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.

Perspectives

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.

Prof Marianne Ojo
Northwestern University

Read the Original

This page is a summary of: Responsive Regulation: Achieving the Right Balance between Persuasion and Penalisation, SSRN Electronic Journal, January 2009, Elsevier,
DOI: 10.2139/ssrn.1407196.
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