...Better Regulation for Growth Regulatory Quality and Competition Policy Investment Climate Advisory Services of the World Bank Group With funding from FIAS, the multi-donor investment climate advisory service in partnership with BETTER REGULATION FOR GROWTH GOVERNANCE FRAMEWORKS AND TOOLS FOR EFFECTIVE REGULATORY REFORM REGULATORY QUALITY AND COMPETITION POLICY INVESTMENT CLIMATE ADVISORY SERVICES WORLD BANK GROUP ©2010 The World Bank Group 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org All rights reserved Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2422; e-mail: pubrights@worldbank.org. About the Investment Climate Advisory Services of the World Bank Group The Investment Climate...
Words: 13479 - Pages: 54
...whether this is the right path to choose and whether these regulations will be able to prevent the world from any future financial markets crisis. So far, the proposed numbers themselves could hardly be described as tough, as the bounce in bank shares testified. Also, it seems that many important issues are not being addressed at all. (Plenty) But what are the issues that should be addressed? What would be the ideal regulatory state and is it possible to ever achieve it? Let us, first, start with our idea of the “ideal” international financial regulatory plan. After having researched various proposals for the international financial markets regulations, we reached a conclusion that finding the ideal path is going to represent a very difficult task and that none proposed regulation will be able to fit all the states. As mentioned in the article “Financial regulation: More questions than answers” which was posted in Businessline in the end of July, due to the variations in institutional legacies, traditions and systems in individual countries over the world, no one size can fit all. Also, however, we believe that as far as financial stability is concerned within any kind of arrangement that is deemed fit in a particular country, there is no need for a central bank to have a lead role. (Opinion) Any regulations will then require a dispassionate assessment of the reasons for the current system’s failure. The complicated issues, which need to be addressed, include the appropriate degree...
Words: 2698 - Pages: 11
...Industrial Regulation is the regulation on an entire industry by the government. This form of regulation exists to safeguard industry prices and to prevent the formations of monopolies. One of the key reasons of industrial regulation is to protect the consumer from being taken advantage of. Industrial regulation can affect the market by passing on higher prices to the consumer as a result of higher production costs. Do to the lack of competition in certain industries industrial regulation could lead to x Inefficiency in the market place. This form of regulation could also affect the market by keeping a monopoly in power long after natural monopoly conditions have expired. The regulation of natural monopolies affects the market by protecting consumers from high prices. Regulations are put into place, allowing monopolies to receive fair profits and returns on their business enterprises. The entities that are affected by industrial regulation in terms of market structure are natural monopolies and oligopolies. Natural monopolies are affected by industrial regulations through perfect competition. When you have monopolies new business are not allowed into the industry and with the firm that has the industry monopolized that one firm is the consumer’s only option. The other market structure affected is by industrial regulation is the oligopoly. Oligopoly is a group of a few large firms controlling an industry. Regulations affect this market structure by deterring the firms within...
Words: 1267 - Pages: 6
...Proposed regulation: Georgia Super Speeder Law 1. State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interest you. -Office of Highway Safety controls this Georgia Super Speeder regulation. This agency and regulation interests me because as a Georgia resident I have seen the damages that speeding on a Georgia highway can cause. I have had colleagues face bad accidents as a result to speeding and this regulation punishes those drivers that break the new regulation. -This law will directly affect me so much as if I was in violation of the law; I can face an additional $200 in the ticket fee just for being in violation. This fee does not include the actual speeding ticket. 2. Describe the proposal/change -The new law will increase the amount of money that an individual pays along with the speeding ticket fee. The proposal is in place to decrease the number of deaths and accidents from the result of driving above the given speed limit. 3. Write the public comment which you would submit to this proposal. Explain briefly what you wish to accomplish with your comment. -I am in favor of the new super speeder regulation. I believe this law will decrease the amount of ‘speeders’ on Georgia highways. Georgia has a high rate of motor vehicle accidents a day and with a new law that will punish these drivers with higher fines, I believe that more drivers will take caution and actually...
Words: 842 - Pages: 4
...2015 Reaction paper on Government Regulation of Insurance The insurance industry is regulated for several reasons: To maintain insurer solvency to compensate for inadequate consumer knowledge. To ensure reasonable rates; to make insurance available * The insurance industry is regulated primarily by the states. The McCarran-Ferguson Act states that continued regulation and taxation of the insurance industry by the states are in the public interest. * Three principal methods are used to regulate the insurance industry: Legislation Courts State insurance departments * The principal areas that are regulated include the following: Formation and licensing of insurers Solvency regulation Rate regulation Policy forms Sales practices and consumer protection Taxation of insurers * Property and casualty insurance rates must be adequate, reasonable (not excessive), and not unfairly discriminatory. The principal types of rating laws are as follows: Prior-approval law Modified prior-approval law File-and-use law Use-and-file law Flex-rating law State-made rates No filing required * Insurers must pay a state premium tax on gross premiums. The primary purpose is to raise revenues for the state, not to provide funds for insurance regulation. * State versus federal regulation is an issue that has evoked considerable debate. The alleged advantages of federal regulation include the following: Uniform state laws and regulations. More effective negotiation of international...
Words: 394 - Pages: 2
...Examining Government Regulations Anonymous HSM/210 Examining Government Regulations The target population I will be examining is the elderly, the first issue is Ozone standards. Based on extensive scientific evidence about ozone's effects the EPA proposed to strengthen the National Ambient Air Quality Standards. This will improve public health protection especially for children and the elderly. The updates also will improve protection for trees, plants and ecosystems. The second regulation to examine is on (CCRC) Continuing Care Retirement Communities. A. CCAC as a Surrogate for Regulation, B. Benefits of Government Regulation, C. Drawbacks of Government Regulation. Continuing Care Retirement Communities are the best option for the elderly and long-term care. They are known for the strategy of having different levels of care in the community setting and the way they provide cost effective care. As they continue to grow and lose the bad reputation for being financially unstable more of our elderly are finding this option attractive. However not all of the elderly population can afford this option, because the cost is too high. The problem has drawn attention from in and outside the industry who want to make CCRC affordable to more of the elderly population. It is well-documented that America's older population is rapidly expanding. "Between 1990 and 2130 the elderly population is expected to double to 65 million people" (DHHS, 1992). As the...
Words: 741 - Pages: 3
...Professional Regulation and Criminal Liability in Delaware Lorna J. Granston 05/26/14 HCS 430 Dr. J. Kaplan There are statutes that regulate health care professional on a federal level. It can be difficult to regulate professional on that level, therefore, there are also regulatory bodies on the State level. Regulatory statutes on the State level can offer specific policy and procedures for professional licensure, credentialing, certification and registration for those in health care. Each State in responsible for having specific regulation. Per the American Medical Association (AMA),” the process of obtaining a medical license--either initial licensure or a second or subsequent license in another state--can be a challenging process” (American Medical Association, 2014). The state statutes can be more complicated, but they ensure that professionals are properly prepared to perform health care services for a specific community. In Delaware there are state laws that are followed by state regulatory agency. The Registrar’s office which is part of Delaware’s General Assemble is responsible for the Administrative Code of Regulations and the Delaware On-line Statutory Code. This office is also the official repository of all regulations for the State of Delaware. Title 24 of this code of regulations is directed specifically to Professions and Occupations in the state of Delaware. Within Title 24, Chapter 17 is the Medical Practice Act. The Delaware agency that implements...
Words: 1520 - Pages: 7
...QUESTIONS AND ANSWERS ON IDEA PART B DISPUTE RESOLUTION PROCEDURES Revised July 2013 Regulations for Part B of the Individuals with Disabilities Education Act (IDEA) were published in the Federal Register on August 14, 2006, and became effective on October 13, 2006. Supplemental IDEA regulations were published on December 1, 2008, and became effective on December 31, 2008. Since publication of the regulations, the Office of Special Education and Rehabilitative Services (OSERS) in the U.S. Department of Education (Department) has received requests for clarification of some of these regulations. This is one of a series of question and answer (Q&A) documents prepared by OSERS to address some of the most important issues raised by requests for clarification on a variety of high-interest topics. Each Q&A document will be updated to add new questions and answers as other important issues arise or to amend existing questions and answers as needed. OSERS issues this Q&A document to provide parents, parent training and information centers, school personnel, State educational agencies (SEAs), local educational agencies (LEAs), advocacy organizations, and other interested parties with information to facilitate appropriate implementation of the IDEA dispute resolution procedures, including mediation, State complaint procedures, and due process complaint and due process hearing procedures. This Q&A document represents the Department’s current thinking on these topics. It does...
Words: 612 - Pages: 3
...Research Study Capital-Market Effects of Corporate Disclosures and Disclosure Regulation Christian Leuz Peter Wysocki June 26, 2006 Commissioned by the Task Force to Modernize Securities Legislation in Canada Christian Leuz Christian Leuz is currently the Professor of Accounting at the University of Chicago, Graduate School of Business. He is also the David G. Booth Faculty Fellow. Prior to this position, Professor Leuz was the Harold Stott Term Assistant Professor in Accounting at the Wharton School of the University of Pennsylvania and Fellow at Wharton’s Financial Institution Center. His research interests include transparency and corporate governance, financial disclosure and securities regulation, and the links between the institutions of market economies. Professor Leuz earned his doctoral degree and “Habilitation” at the Goethe University Frankfurt in Germany. His most recent publications have appeared in the Journal of Financial Economics, the Journal of Accounting and Economics and the Journal of Accounting Research. He is an Associate Editor of the Journal of Accounting and Economics and serves currently on the Editorial Board of The Accounting Review, the Journal of Accounting Research, the Journal of Business, Finance and Accounting, and the International Journal of Accounting. He has received several grants and honors, of which the Geewax Terker Prize is the latest. Peter Wysocki Professor Peter Wysocki is an associate professor of management at...
Words: 20952 - Pages: 84
...And therein lies opportunity for software developers who care. Anderson, B. (2007). Regulating the Internet: Behavioral & Social Sciences Librarian, 26, 91-95. The Internet's breakthrough to primetime usage beginning in the mid-1990s evolved in an era of openness. Unfettered access seemed key to Internet development. An important foundation for the 1996 Telecommunications Act was the theory that the telecom industry would work best if it were free of government regulation, a guiding principle that has continued through to the current administration. However, try as the government might to avoid regulatory roadblocks, the Internet has been regulated from the beginning. Not only the government, but also nonprofit organizations and private industry have their hand in regulation. Certain regulations may involve or affect all three types of regulating entities, and within each entity there can be substantial infighting over issues. This article is primarily about government regulation, but examples of regulation from the other regulating entities are provided. It also introduces efforts at regulating at a global level, an exponentially difficult challenge. (Contains 2 notes.) Cleaver, C.A. (2011). The Internet: Clear and Present Danger? In Reid S. The Prentice Hall Essential...
Words: 422 - Pages: 2
...Assignment 1: Research Topics with Explanation Krista Reynolds Professor Eric Thompson English 215 April 15, 2014 Topic 1: Should regulations for homeschools be changed? I have chosen this topic because our children’s future lies within the regulations. My audience for this paper will be Professor Eric Thompson and my peers. Education is cornerstone to a person’s future in today’s society. Each and every American (including our children) has the basic civil rights. One of those rights is the right to an equal education. By not enforcing regulations on homeschooling are the rights of the child being violated? While some states regulate homeschool parents by requiring the parent to obtain a state teaching certification, there are still many that don’t require any regulation. Without regulation of schools, whether they be public, private or in the home, we are risking our risking our future to a generation that has little adaptability to our ever changing society. Credible sources expected to use: (Kreager, 2010); (Waddell, 2010) Topic 2: Should minors who commit violent crimes be tried as adults? I have chosen this topic because it holds the future of our children and the future of our country within its laws and courtrooms. The audience for this paper will be Professor Eric Thompson and peers. By treating our children as adults for crimes they commit are we holding them accountable or are we creating “super-predators” out of our troubled youth? Not only...
Words: 610 - Pages: 3
...| Banning Electronic Cigarettes on Aircrafts | | | | | | 1. This proposed regulation interests me since I have started flying more often and I wouldn’t want to sit next to someone smoking an electronic cigarette on an airplane. The seating on airplanes are so close together that you wouldn’t want to be able to smell the vapor from someone smoking an electronic cigarette even though it is barely noticeable. This proposed regulation is banning electronic cigarettes from commercial and international aircraft flights. I guess it would affect me and the company I work for since there are hundreds of people in our company that have to fly for business. The discomfort of having to smell an unusual odor even if it was a flavor odor from someone sitting so close to during a 2 -6 hour flight would not be enjoyable. 2. The proposal is intended to change any existing smoking regulations for airlines to ban the use of electronic cigarettes on any passenger flights both domestic and international. The DOT is implementing this change due to the marketing and promotional advertising to increase the popularity of the electronic cigarettes and they are concerned about any safety, health and discomfort concerns that may be imposed on the other passengers on the aircraft. 3. November 13, 2011 Subject: Docket # DOT-OST-2011-0044 – Office of the Secretary (OST) and Department of Transportation (DOT) - Proposed Rule: Ban Smoking of Electronic Cigarettes on Aircrafts ...
Words: 1350 - Pages: 6
...3 The Regulatory System in the United Kingdom This chapter examines the regulatory system currently in place in the United Kingdom. It provides an overview of the structure and objectives of regulation, the role of the regulator and the techniques that are employed in regulating firms and individuals who engage in investment business. 3.1 Background: the financial crisis and regulatory reform 3.1.1 Responding to the financial crisis In the UK, as elsewhere, the onset of the financial crisis exposed deficiencies in financial regulation and led to calls for regulatory reform. The Treasury Select Committee1 led the way, with its hearings into the collapse of Northern Rock exposing serious deficiencies in supervision and risk management.2 In October 2008, the Chancellor of the Exchequer asked Lord Turner, the newly appointed chairman of the FSA, to review the causes of the crisis and to make recommendations on the changes in regulation and supervisory approach needed to create a more robust banking system for the future. The Turner Review3, published in March 2009, made a 1 The Treasury Select Committee is a Parliamentary (House of Commons) committee that scrutinises the activity of the regulatory authorities in the UK. 2 See House of Commons Treasury Committee, The Run on the Rock HC 56-1 (Fifth Report of Session 2007-08). 3 FSA, ‘The Turner Review, A regulatory response to the global banking crisis’ (March 2009) at http://www.fsa.gov.uk/Pages/Library/Corporate/turner/index...
Words: 25821 - Pages: 104
...discussing food and drug law issues through conferences, publications and member interaction. The range of this organization includes drugs, food, animal medications, biologics, medical devices, tobacco and dietary supplements. The Food & Drug Law Institute goals are to keep attorneys and litigators at all experience levels, regulators, compliance experts, and food and dietary supplements industries current on the changing trends in enforcement, litigation, and compliance. The FDLI (Food and Drug Law Institute) mission and ethical principles are to train and educate its stakeholders on topical food and drug laws; act as a liaison to promote networking as a means to develop professional relationships and idea generation; and ensure an open, balanced marketplace of ideas to inform innovative public policy, law, and regulation. The role of the Food and Drug Law Institute and as well as the Food and Drug Administration is to ensure informed conversation and problem solving in critical areas of food and drug law policy and regulation. Another role of this organization is intended to enhance the safety of regulated products and increase consumer’s confidence in those products. This also includes with the combination of private standards, public laws and regulations. FDLI is not considered as an advocacy organization and does not promote positions for regulations, policies or legislation. FDLI promotes the exchange of ideas from all sides of an issue, but as an organization does...
Words: 312 - Pages: 2
...does not include regulations issued by executive branch agencies, decisions of federal courts, treaties, or laws enacted by state or local governments. New laws are assigned a public law number and included in the next edition of the United States Statutes at Large. You can also find new laws enacted by the current Congress before they are part of the United States Statutes at Large. Get Involved and Learn More Research Federal Laws Find Bills Introduced in Congress Learn How a Bill Becomes a Law Contact Your Elected Officials Learn How Federal Courts Influence Laws Back to Top Federal Regulations Regulations are issued by federal agencies, boards, or commissions. They explain how the agency intends to carry out a law. The Rulemaking Process Federal regulations are created through a process known as rulemaking. By law, federal agencies must consult the public when creating, modifying, or deleting rules in the Code of Federal Regulations. This is an annual publication that lists the official and complete text of federal agency regulations. Once an agency decides that a regulation needs to be added, changed, or deleted, it typically publishes a proposed rule in the Federal Register to ask the public for comments. After the agency considers public feedback and makes changes where appropriate, it then publishes a final rule in the Federal Register with a specific date for when the rule will become effective and enforceable. When the agency issues a...
Words: 428 - Pages: 2
