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Regulatory Impact Analysis

A Tool for Policy Coherence

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Regulatory impact analysis (RIA) is a systemic approach to critically assessing the positive and negative effects of proposed and existing regulations and non-regulatory alternatives. This publication brings together recent OECD research and analysis concerning methodological issues and country experiences with RIA. The collected papers cover a number of challenges to the effectiveness of RIA including: systemic factors which influence the quality of RIA; methodological frameworks that can assist RIA to improve regulation; guidance on using RIA to avoid unnecessary regulation of competitive markets; and a review of the use of RIA in the regulation of corporate governance across a number of OECD countries. Taken together, this publication provides valuable, practical guidance on how to improve the performance of RIA systems to promote economic welfare through better quality regulation.  

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Applying RIA to Policy Making in the Area of Corporate Governance

Chapter 5 looks at a study within the OECD of the application of RIA in the field of the regulation of corporate governance. Noting that the requirement to undertake RIA is an established part of the regulatory systems of OECD members, this chapter examines examples of the application of RIA by financial services regulators to strengthen their evidence-based policy-making. It draws on examples from OECD experience notably; Canada, Australia, the United Kingdom, United States and the European Union. It looks at how regulators have dealt with some of the challenges to effective RIA which include; defining the problem, undertaking effective consultation, and identifying and measuring costs and benefits.

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