Understanding Regulation Theory, Strategy, and Practice

by Baldwin, Robert; Cave, Martin; Lodge, Martin

• ISBN13: 9780199576081
• ISBN10: 0199576084
• Edition: 2nd
• Format: Hardcover
• Copyright: 2012-01-13
• Publisher: Oxford University Press

Summary

Regulation is a key concern of industries, consumers, citizens, and governments alike. Building on the success of the first edition,Understanding Regulation, Second Editionprovides the reader with an introduction to key debates and discussions in the field of regulation from a number of disciplinary perspectives, looking towards law, economics, business, political science, sociology, and social administration. The book has been extensively revised and updated to take into account the significant developments and events of the past decade. Containing several new chapters, it has been completely restructured into seven parts, covering: the fundamental issues regarding regulation; different types of regulatory strategies; rules and enforcement; quality and evaluation; regulation at different levels of government; network issues; and concluding thoughts. Drawing on cross-sectoral and cross-national examples, this book reviews the central questions of regulation, and reflects upon those contentious issues that affect the design and operation of regulatory institutions. Amongst other topics, it discusses 'better regulation', enforcement, self-regulation, risk regulation, cost-benefit analysis, and more utility regulation-oriented topics, such as price-setting. It will be an essential resource for academics, researchers, and graduates across the social sciences studying regulation.

Author Biography

Robert Baldwin is a Professor of Law at the LSE where he teaches Regulation and Criminal Law at undergraduate and graduate levels. He has published widely on regulation and has broad consultancy experience in regulation. His previous books include The Government of Risk (Oxford University Press, 2001 with Christopher Hood and Henry Rothstein). He is the Director of the LSE Short Course on Regulation.

Martin Cave is BP Centennial Professor at the London School of Economics and Political Science for 2010-11. He was a member of the U.K. Competition Commission from 1996-2002. He has authored numerous works on economic regulation, and has very extensive experience of advising regulatory agencies such as Ofcom, OFWAT, the Office of Fair Trading, international institutions such as the European Commission and the OECD, and governments in several countries.

Martin Lodge is Reader in Political Science and Public Policy at the LSE. His research and teaching interests are in the comparative study of Executive Government and Regulation.

Table of Contents

List Of Figures	p. xi
List Of Tables	p. xii
Abbreviations	p. xiii
Introduction	p. 1
Fundamentals
Why Regulate?	p. 15
What is 'Good' Regulation?	p. 25
Explaining Regulation	p. 40
Regulatory Failure	p. 68
Regulating Risks	p. 83
Strategies
Regulatory Strategies	p. 105
Self-regulation, Meta-regulation, and Regulatory Networks	p. 137
Franchising	p. 165
Emissions Trading	p. 195
Rules And Enforcement
Enforcing Regulation	p. 227
Responsive Regulation	p. 259
Risk-based Regulation	p. 281
Standards and Principles	p. 296
Quality And Evaluation
Cost-Benefit Analysis and Regulatory Impact Assessment	p. 315
Accountability, Procedures, and Fairness	p. 338
Regulatory Competition and Coordination	p. 356
Regulation At Different Levels Of Government
Multi-level Regulation	p. 373
Regulation and the European Union	p. 388
Regulation and Development	p. 409
Global and International Regulation	p. 425
Network Issues
Regulating Prices in Natural Monopolies	p. 443
Using Competition in Network Industries	p. 453
Separation and Contestability in Network Industries	p. 466
Implementing Price Controls	p. 476
Efficiency and Innovation in Network Industries	p. 492
Conclusions
Conclusions	p. 505
Select Bibliography	p. 509
Index	p. 531
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