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This study aims to carry out a critical analysis of the methods used to deal with the regulatory impact assessment while proposing an alternative method to overcome some of the drawbacks of the aforementioned methods.

To achieve the objective of this work, the methods currently used in regulatory impact analysis are presented by highlighting their scope and the problems they may pose during their applications. After that, the adjusted variant of radial measure is suggested as an alternative method to the aforementioned methods while showing its relevance with regard to other methods using pertinent criteria. Finally, for concretization, a case study related to the sanctions against Russia after its invasion of Ukraine is presented.

The findings show that regulations related to the sanctions against Russia are good enough, with a score of 0.846. However, this score is less good in several countries like Germany (0.671), Italy (0.677) and France (0.745) and in the poorest countries.

The originality of this work resides in using a novel method in the regulatory impact analysis field, which is adjusted variant of radial measure. This method increases the effectiveness of the regulatory impact assessment.

This research explores the relevance of the Austrian tradition within the field of public policy studies. Policy studies is a research field about what governments can do. Austrian economics, conversely, mostly highlights the shortfalls of government intervention: as such overlapping seems limited. However, broadly speaking Austrian principles have indirectly influenced two aspects of policy studies: the conceptualization of the policy cycle as an imperfect process driven by actual individuals with limited knowledge and bounded rationality, and the creation of a regulatory framework that forces policy makers to reflect upon unintended consequences, by using evidence and data. This regulatory framework, assessed in this chapter by reading several regulatory guidelines through Austrian lenses, provides a new window of opportunities for Austrian economics to be relevant in the policy process. Austrian economist can be taking part in the regulatory process and also help select regulatory tools and institutional infrastructures that minimize the unintended consequences of government intervention, while contributing to the definition of social problems that enter the policy agenda from an individualistic perspective.

This study aims to seek to fill a gap in regulatory impact assessment in developing countries by presenting an analysis of how formal regulation impact on the efficiency and productivity of financial non-governmental organisations (FNGOs) in Ghana. Much has been written about the formal financial sector, but very little is known about the lower end of microfinance and the impact of formal prudential regulation on FNGOs providing microfinance services. The Bank of Ghana (BOG), nevertheless, in the year 2011, extended formal prudential regulation to FNGOs without any empirical basis. This study uses regulatory theories and empirical evidence to aid in the evaluation of whether formal prudential regulation is appropriate for FNGOs operating within the microfinance sector.

Empirical evidence derived from FNGOs, regulatory agents, consumers and financial lawyers within the Greater Accra and Ashanti Regions of Ghana served as the basis of the analysis in this study. Descriptive statistics, frequency counts and percentage scores, were used to analyse the data collected.

The existing structures of FNGOs in Ghana are unsuitable for formal prudential regulation. The BOG does not have adequate staffing and funding to supervise and monitor the microfinance activities of FNGOs. Formal prudential regulation could impede growth and efficient delivery of microfinance services.

The BOG is the only regulatory agency responsible for regulating the financial market in Ghana, thus access to officers with knowledge in the regulatory regime was very limited.

The study revealed in depth information about FNGOs, microfinance and the impact of formal prudential regulation on FNGOs.

The study is the first to use empirical studies and theories of regulation to assess the impact of extending formal prudential regulation to FNGOs in Ghana. Data from the regulator, the regulated and consumers, the key players in any regulatory process, served as the basis of the analysis in the study resulting in the unravelling of in-depth information on the regulation of FNGOs.

The proposed contents of the planned Financial Services and Markets Act have been revealed in the draft bill (FSMB) that was introduced into Parliament on 17 June, 1999 and in various announcements by the government. On that basis, the Act is expected to require the Financial Services Authority (FSA) to have regard, in discharging its functions, to the economic impacts of the provisions it makes and to publish a cost‐benefit analysis (CBA) of proposed rules and general guidance with respect to the operation of rules. This paper describes the technical and organisational measures that the FSA is taking in order to fulfil the FSMB's requirements for CBA and considers the rationale for those requirements. The paper suggests that the case for undertaking cost‐benefit analysis rests on the dangers of interfering in markets without analysing the likely consequences in a rigorous and theoretically sound manner. The paper also reviews the (so far limited) experience of applying cost‐benefit analysis to financial regulation in the UK and suggests how difficulties in the assessment of the costs and benefits can be addressed, with a consequent increase in the value of financial regulation.

This chapter provides an overview of the social policy development and assessment in East Asia. Our study shows that social policy assessment in this region is still relying on objective indicators and interviews, even though most of the regional governments have implemented the Regulatory Impact Assessment for improving regulation quality. General approaches to measuring social value such as Cost–Benefit Analysis, Cost-Effectiveness Analysis and Social Return on Investment are not commonly used in the formulation of social policies. We compare the features of these approaches and provide suggestions about how to embed social value assessment tools into social policy and strategy development process.

This study aims to identify the most critical concerns of property developers in terms of the transaction costs involved in compliance with environmental laws at the building scheme design stage when key design decisions are made.

Sixteen structured interviews were carried out with experienced industry practitioners in Hong Kong. Transaction cost theory is used to explain the regulatory compliance costs.

The results show that the most significant impacts of transaction costs were due to uncertainties in negotiations with government, which takes time to obtain approvals and overcome ambiguous legislative requirements.

The government could make use of the research findings to formulate a clear environmental policy to coordinate various departments and laws to address uncertainty with time for project delivery, and conduct quantitative regulatory impact assessments in the development of new legislation.

This study identifies and explaines “uncertainties” as the most critical concern for property developers in terms of the transaction costs involved in compliance with environmental laws. The results of this study would help policymakers to improve policy design, which would in turn increase efficiency and productivity in the property development process.

Child impact statements are a tool for assessing the potential impact of policy, provision, legislation etc on children. Although now predominantly based on the UN Convention on the Rights of the Child (CRC), the concept preceded this Convention. This article is based on a literature review and a series of face‐to‐face and telephone interviews with relevant Irish civil and public servants and NGOs. It sets out the rationale for child impact statements and the experience of using them in Sweden, the UK, Flanders and Ireland, before highlighting the strengths and weaknesses in existing models. It then presents a number of difficulties with the approach as a means of improving children's well‐being and argues that there is insufficient evidence to support their widespread introduction as a primary means of achieving positive policy outcomes for children.

The purpose of this paper is to explore the institutional challenges of coordinating regulatory agencies and the costs associated with compliance requirements in Tanzania’s tourist industry.

This paper is based on qualitative research conducted in the northern tourism circuit of Tanzania. Data were generated through semi-structured interviews and focus group discussions with owner-managers of tourism enterprises, heads of regulatory agencies and leaders of business associations (n=60). The findings were analysed through triangulating the data from various sources to establish emerging themes and patterns in accordance with the theoretical underpinnings and research objectives.

The findings show that tourism enterprises are governed by a multitude of national, sub-national and sectoral institutions mandated to impose several taxes, fees and levies on enterprises. As a result, tourism enterprises are required to obtain duplicate licences and are subjected to uncoordinated inspections. The poor treatment by regulatory agencies, the unclear basis for estimating taxes and levies, inadequate tax education and closure of businesses were also reported as key regulatory challenges. Most challenges emerge from agentification of the public sector and the lack of a legal framework in which to formally facilitate coordination and information sharing amongst government agencies.

The paper proposes streamlining the functions of divergent institutions governing the industry by increasing intergovernmental coordination through delegating some functions, sharing information and enforcing formal inter-ministerial and cross-government consultation structures.

This paper adds value to previous regulatory assessments by empirically analysing the specific sector and showing how the principal–agent relationship for the public sector can be improved through enforcing coordination of the multiple agencies governing the tourist industry.

The purpose of this study is to investigate the extent to which TQM has influenced the legal system in Australia, an area seldom investigated in the quality or legal literature.

Documentary and policy analysis of legislation, rules and rulemaking documentation based on a partial application of historical-policy analysis (HPA). Textual analysis was based on Dean and Bowen's (1994) definition of TQM and Vinni's (2007) review of new public management and Swiss (1992) “reformed TQM” concepts.

Australia's Tertiary Education Quality and Standards Agency Act of 2011 and supporting legal documents such as Guidance Notes include language reflective of TQM principles, providing evidence that present-day administrative law schemes include TQM practices and tools to undergird procedures of regulatory expectations (sometimes in the form of standards), monitoring and general operations. Oftentimes, it is the supporting legal documentation where TQM practices are found and operationalized.

This is a proof-of-concept research study to determine the feasibility to identify TQM concepts within the existing language of legal statutes and supporting regulatory documentation. As such this study worked out the preliminary research challenges in performing this type of analysis.

Understanding TQM's impact on legal systems expands the system's perspective of organizations that do not always factor in the influence government policy has on organizational behaviours and outlooks. More specifically, understanding TQM's influence sheds insight on regulatory requirements imposed on a sector and the normative aspects of regulatory compliance that impact the operations and strategic planning of organizations.

The article provides an example of how legal administrative rulemaking influences organizational operational and strategic activities to remain viable in the organization's business or industrial sector.

There are few research papers or literature reviews pertaining to the subject of TQM concepts embedded in laws and regulations, most of which date from the 1980s through early 2000s.