Article

Strategic Use of Regulation

Cento Veljanovski

in The Oxford Handbook of Regulation

Published in print September 2010 | ISBN: 9780199560219
Published online September 2010 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199560219.003.0005

Series: Oxford Handbooks in Business and Management

Strategic Use of Regulation

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The focus of this article is the strategic use of regulation by industry and regulators, and the rules and procedures that have been and can be put in place to reduce wasteful attempts to ‘game the system’. Regulation exists to get industry, organisations, and individuals to modify their behaviour to gain compliance with the law, and ultimately to achieve desired outcomes. Yet it operates in a world where the law is imperfect, enforcement and compliance costly, resources limited, and the regulator has discretion. Regulation has two other features — it generates winners and losers; and its creation and enforcement are the outcome of political and legal processes. Investing in rule change can be as lucrative as maximising profits within the rules. It often ‘pays’ the industry to invest in trying to influence and respond to legislators and regulators to gain favourable regulation, or to minimise the impact of unfavourable regulation.

Keywords: regulation; industry; organisations; legal processes; legislators

Article.  7343 words. 

Subjects: Business and Management ; Business Strategy ; Public Management and Administration

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