Reforming Regulations: Opportunities and Experiences. Importance of Good Regulation. Good regulation and institutions help markets function and economies to grow. A good legal and regulatory system strengthens incentives for formal participation in the economy, and reduces the costs. more.
regulationWho Regulates More?
Result: Lower Productivity, Higher informality and Corruption, Less Employment Growth
Lower middle income
Upper middle income
Court-Powers in Bankruptcy Index
Employment Laws Index
Source: World Bank Group, Doing Business 2004
Sources: Doing Business 2004, ICAs, Zambia Administrative Barriers Study (2004)
In spite of many individual reforms in South Asia, systematic reform programs generally not seen.3 Phases of Regulatory Reform
Regulatory Impact Assessment (RIA) is a method of
(i) systematically and consistently examining the positive and negative impacts arising from proposed (or existing) government rules, regulations and procedures,
(ii) considering alternatives and
(iii) communicating the information to decision-makers.
Source: OECD 1995
Inspection Duration, Hours
Assets included pressure from EU Accession and WB,a new government, pro-reform technocrats & an active business community.
Short-term Medium-Term Long-Term