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Regulatory Policy in Peru

Assembling the Framework for Regulatory Quality

image of Regulatory Policy in Peru

Regulation is one of the key levers of government intervention. When properly designed, it can help achieve environmental and social objectives, and contribute to economic growth. The OECD Review of Regulatory Policy of Peru assesses the policies, institutions, and tools employed by the Peruvian government to design, implement and enforce high-quality regulations. These include administrative simplification, evaluation of regulations, public consultation, and the governance of independent regulators, amongst others. The review provides policy recommendations based on best international practices and peer assessment to strengthen the government’s capacity to manage regulatory policy.

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The governance of regulators in Peru

This chapter addresses the governance arrangements in force in Peru for regulatory agencies that have a degree of independency from the central government. The OECD Best Practice Principles for Regulatory Policy: The Governance of Regulators is employed as benchmark to assess elements such as role clarity, decision making and governing body structure for independent regulators, accountability and transparency, amongst others. It is found that economic regulators in Peru have a large degree of independence to exert budget and decision making, and that their practices on transparency and accountability are more advanced compared to obligations in the central government. Peru should consider strengthening the governance of economic regulators by reviewing their legal links with central government in order to enhance their decision making, upgrading current policies to make regulators more accountable to the central government, to Congress and to the general public, and introducing a system of ex ante impact assessment.

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