Law and Economics in the RIA World

The use of economics in public policy, in the form of ex ante Regulatory Impact Analysis (RIA), is strongly advocated by international organizations such as the OECD and the World Bank. In the US and the EU, hundreds of RIAs are produced every year to justify public intervention in the form of regulation. But reality shows that in many other countries the adoption and implementation of this tool has been patchy at best.

Author(s):
Andrea Renda
Series:
European Studies in Law and Economics (EDLE)
Volume:
6
book | published | 1st edition
August 2011 | xiv + 270 pp.

Paperback
€61.20 €72.-


ISBN 9781780680231


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The use of economics in public policy, in the form of ex ante Regulatory Impact Analysis (RIA), is strongly advocated by international organizations such as the OECD and the World Bank. In the US and the EU, hundreds of RIAs are produced every year to justify public intervention in the form of regulation. But reality shows that in many other countries the adoption and implementation of this tool has been patchy at best. At the same time, the economics used in RIA is heavily challenged by scholarly developments such as behavioral economics, neuroeconomics and the study of social norms, and was also unable to predict and cure the financial crisis that hit the global economy in 2007. The book claims that RIA should incorporate recent developments in the law and economics literature and provides an analysis of the potential contribution of positive, normative and functional schools of law and economics to the practice of RIA. The book contains thematic applications to policy fields such as environmental protection, energy efficiency, financial markets, antitrust, cyberspace and telecommunications.

The book provides far-reaching recommendations on the future of law and economics, as well as on the organization of RIA systems around the world, particularly in the US and the EU.


About the author
Andrea Renda teaches law and economics at LUISS Guido Carli in Rome, and is a Senior Research Fellow at the Brussels-based Centre for European Policy Studies (CEPS). Dr. Renda regularly consults with EU institutions and international organizations on topics related to regulatory reform, competition policy and regulation of network industries. He was the Coordinator of the European Network for Better Regulation (ENBR) between 2005 and 2008, and is currently the Manager of the CEPS Digital Forum. Dr. Renda is Jean Monnet Fellow at the European University Institute in Florence for the period 2011-2013. He is the author of several publications, conference presentations, book chapters and monographs. He is a member of the Editorial Board of Telecommunication Policy (Elsevier) and European Journal of Risk Regulation (Lexxion); he is also a member of the Scientific Board of the International Telecommunications Society (ITS) and of the EuroCPR.

Chapters

Table of Contents (p. 0)

1. Prologue: The birth of administrative law and economics (p. 1)

PART I. THE RIA WORLD

2. RIA in the United States (p. 15)

3. EU impact assessment: history, practice and outcomes (p. 43)

PART II. LAW AND ECONOMICS: POSITIVE, NORMATIVE AND FUNCTIONAL APPROACHES

4. Ex ante policy appraisal: insights from positive, normative and functional schools of law and economics (p. 93)

5. Informing RIA through sound law and economics: miscellaneous examples (p. 171)

PART III. CONCLUSION: LAW AND ECONOMICS IN THE RIA WORLD

6. The future of RIA – and how law and economics can help (p. 221)

Selected References (p. 243)

About the series:

European Studies in Law and Economics (EDLE)

The series European Studies in Law and Economics is devoted to further the understanding of Law and Economics in Europe. The volumes published in this series present an interdisciplinary perspective on the effects of laws on people’s behaviour and on the economic system. The ample topics address a wide audience, including policy makers, legislators, economists, lawyers and judges. The series is peer-reviewed.

The series is an initiative of the PhD programme ‘European Doctorate in Law and Economics’ (EDLE). The EDLE is the academic response to the increasing importance of the economic analysis of law in Europe. The programme is offered by the Universities of Bologna, Hamburg and Rotterdam in association with the Indira Gandhi Institute of Development Research, Mumbai (India). PhD students receive the unique opportunity to study law and economics in three different countries. The programme prepares economists and lawyers of high promise for an academic career in a research field of growing importance or for responsible positions in government, research organisations and international consulting firms.

The European Commission sponsors the EDLE as an excellence programme under the prestigious Erasmus Mundus scheme. For further information please visit: www.edle-phd.eu.

The editorial board of the series consists of Prof. Dr. Michael G. Faure (Erasmus University Rotterdam), Prof. Dr. Luigi A. Franzoni (University of Bologna) and Prof. Dr. Stefan Voigt (University of Hamburg).

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