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.
Preface
Against a backdrop of a once-in-a-century global health and economic crisis, the management of the global commons presents a very real challenge. The deterioration of trust in governments, experts, and evidence has made reaching consensus in policy making more difficult. At the same time, there has been increased pressure for more rapid decision making to help address real economic, environmental and social issues. We need to rethink the way governments make rules. The important need for trusted, evidence-based, internationally co-ordinated, and well-implemented and administered regulation to deliver on climate action, harness innovation and manage interconnected global risks make this all the more urgent.
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