The regulatory framework is essential to efficient markets and effective government. Regulatory governance is the concept which helps to link the management of regulations, regulatory tools, institutions and the participation of stakeholders. It contributes to establish healthy systems of governance – the foundation for building integrity.
What goes into sound regulation? What are the tools, strategies and processes that will result in regulatory policy that truly contributes to economic growth and builds healthy systems of governance? Just as importantly, what is to be avoided?
Better rules are needed that take into consideration what citizens want, what businesses need and what contributes to pull the rug from under the feet of corrupt practices. This is no longer the task of governments alone.
These questions are addressed to policy makers looking to improve the quality and transparency of government regulation.
1. Are legal and constitutional practices consistent with and supportive of the rule of law?
2. Are regulations, regulatory institutions charged with implementation, and regulatory processes transparent and accessible?
3. Has the proposed regulation been analysed to identify that it is a necessary and effective means of achieving a legitimate policy goal?
4. Are regulations kept simple and have unnecessary administrative burdens been eliminated?
5. Is regulatory enforcement and inspection effectively set for fighting corruption?
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