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The Economics and Politics of the Slowdown in Regulatory Reform

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  • Roger G. Noll
Abstract
The late 1970s witnessed a series of major changes in regulatory policy that were based in large measure on economic policy research, including deregulation in transportation and hyrdrocarbon fuels and the introduction of limited forms of emissions trading in environmental regulation. In the early, 1980s, the pace of reform slowed dramatically. This essay addresses the economic and political sources of the slowdown, and argues that economists have been less successful when their advice is to undertake structural and procedural changes in regulation, as opposed to eliminate it altogether. The primary reasons for their lack of success are, first, that political leaders view structure and processd as a means to advantage allies and disadvantage foes, not as instruments for improving performance, and second, that economists are less credible than in the past because they are so thoroughly involved as consultants represnting an interest, which undermines their credibility as proponents of reform.

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  • Roger G. Noll, "undated". "The Economics and Politics of the Slowdown in Regulatory Reform," Working Papers 1, Brookings Institution Domestic Economics.
    • Handle: RePEc:wop:bredwp:001
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    Cited by:

    1. Shinnick, Edward, 2003. "Aspects of Regulatory Reform in the Irish Solicitor Profession: Review & Evaluation," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2003(2-Summer), pages 1-15.
    2. Preetum Domah & Michael Pollitt & Jon Stern, 2002. "Modelling the Costs of Electricity Regulation: Evidence of Human Resource Constraints in Developing Countries," Working Papers EP11, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    3. Clifford Winston, 1998. "U.S. Industry Adjustment to Economic Deregulation," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 89-110, Summer.
    4. S.K.N. Nair, 2008. "Electricity Regulation in India," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 2(1), pages 87-144, March.
    5. Anabel Zárate-Marco & Jaime Vallés-Giménez, 2012. "The cost of regulation in a decentralized context: the case of the Spanish regions," European Journal of Law and Economics, Springer, vol. 33(1), pages 185-203, February.
    6. David Anthoff & Robert Hahn, 2010. "Government failure and market failure: on the inefficiency of environmental and energy policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(2), pages 197-224, Summer.

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