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OECD Regulatory Policy Outlook 2021

image of OECD Regulatory Policy Outlook 2021

Laws and regulations govern the everyday life of businesses and citizens, and are essential tools of public policy. 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. It provides unique insights into how countries approach the design, enforcement and revision of regulations, and suggests where countries can best focus their efforts to ensure that laws and regulations work as intended. Finally, it discusses some agile and innovative approaches to rule making such as regulatory sandboxes, behavioural insights, and outcome-based, data-driven and risk-based regulation.

English Also available in: German, French

Korea

Korea has incorporated several changes in its regulatory policy system over the last years. For RIA, this includes a 2018 reform requiring analysis to be proportionate to the significance of the regulation, and requiring alternative regulatory options to be assessed for all subordinate regulations. New RIA guidelines in 2018 allow for more systematic assessment and implementation, which were followed by impact reporting and guidance on RIA for SMEs in 2020.

English Also available in: French

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