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Publicação
Regulation and regulatory capture
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| 1.06 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
Regulation exists to correct the negative effects of market failures, on the well-being of consumers and of the society, as a whole. One major problem is that regulatory action may be impaired by the existence of interest groups that seek to condition regulators, so that they make decisions favorable to their goals. We present and discuss the different economic theories that provide insights into the problem of regulatory capture including, e.g., interest group theory, toll (corruption) theories, information asymmetry and the principal-agent theory. We present several forms in which regulatory capture may occur, including financial capture and cultural capture. In the final two sections, we discuss how to mitigate the risk of regulatory capture by interest groups of a regulated sector or industry.
Descrição
Palavras-chave
Regulation Regulatory Capture Interest Groups
Contexto Educativo
Citação
Borges, Maria Rosa .(2017). “Regulation and regulatory capture”. World Academy of Art and Science at worldacademy.org (Search PDF in 2022).
Editora
WAAS