Efficient provision of transport infrastructure is critical to economic growth. The long asset lives of much transport infrastructure indicates governance through regulation, rather than through contract or public ownership. This can ensure predictability in long-term relationships whilst preserving some flexibility to deal with changes in external circumstances.
The transparency created by a fully independent regulator is invaluable for ensuring sufficient investment is forthcoming, while maintaining reasonable conditions for user access. Discussion at the Roundtable focussed on how to achieve effective independent regulation and how to reconcile independence with the legitimate control of policy by the executive part of government.
Independent regulation is not seen as a universal default governance arrangement. Much of the discussion focused on when to regulate and when to rely on competition, even if imperfect, to drive efficiency. The discussions underscored that there are opportunities to improve performance significantly in the aviation, rail and road sectors, by learning from successful experience in improving governance structures in a range of countries.
In recent years, the financial sector has been extensively debated at OECD Competition meetings, thereby bringing together a variety of influential actors such as senior competition officials, market regulators, academics and representatives of the business community. Competition Issues in the Financial Sector 2011 presents the key findings from these discussions into a cohesive narrative. It also includes the executive summaries of
Trade can be impeded by inefficient transport infrastructure, border procedures or information flows. Better logistics services reduce trade costs for businesses and improve the competitiveness of a country's exports, according to this study. (OECD Trade Policy Working Paper No. 108)
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 society’s well-being?
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Standard setting yields substantial benefits to consumers and often promotes competition to benefit consumers. Nonetheless, at times, standard setting can give rise to potential consumer harms. By bringing together different players in an industry, the standard setting process provides an opportunity for collusion, deception and strategy about which regulators must be vigilant and proactive. The discussion held found that a standard
Apparent characteristics of the Hungarian banking market such as large profits and high margins suggest weak competitive pressures. Weak competition in turn, may reduce efficiency in a lack of pressures to converge to marginal cost and to stimulate managerial efforts to reduce X-inefficiency.
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Global current account imbalances widened markedly in the years preceding the global economic crisis.
Who should manage the RIA process? Who should be in charge of administrative simplification initiatives? How should Regulatory Oversight Bodies (ROBs) be designed, and be monitored? This Working Paper focuses on what the existing ROBs actually do, classifying them into core functions.
Two workshop were held in Moscow on the topic of regulatory impact assessment in Russia, enabling an exposure to different approaches used in some leading OECD countries.
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Businesses and policymakers are concerned by recent trends in export restrictions on strategic raw materials like rare earths, metals and food commodities. OECD is working to bring more transparency and discipline to the use of these restrictions.