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Strong versions of the Precautionary Principle (PP) require regulators to prohibit or impose technology controls on activities that pose uncertain risks of possibly significant environmental harm. This decision rule is conceptually unsound and would diminish social welfare. Uncertainty as such does not justify regulatory precaution. While they should reject PP, regulators should take appropriate account of societal aversion to risks of large harm and the value of obtaining additional information before allowing environmentally risky activities to proceed.

This chapter discusses the regulatory challenges faced by financial institutions in emerging countries and it presents their specific features compared to financial institutions in developed countries. It offers a practical way of implementing regulatory changes while accounting for emerging countries’ specific features. Using a principle-based approach, this chapter builds on the recent regulatory developments in both developed and developing market economies. It relates these developments to industry best practices as well as the current state of the art in risk management and corporate governance. The findings show how the regulation of financial institutions in emerging countries differs from that in developed countries. Different approaches to mitigate the divergences and fill the gaps are discussed. Both regulators and financial institutions in emerging countries will find this chapter offers a practical point of view based on field and industry experience on how to interpret and apply regulations and adopt best practices in risk management in a way that accounts for emerging countries’ specific features.

There seems to be no controversy about Nigeria being an agricultural country with food sufficiency up till the late 1970s. However, in recent times the country is finding it very difficult to provide sufficient food for the teeming population which has resulted in the majority of the country’s citizens slipping into poverty. The ability of the country to provide sufficiently for the citizens was a result of a lack of reliable and effective developmental and transformational strategies in the agricultural sector of the country which is a major employer of labour in the rural community. To this end, this chapter mainly focuses on factors inhibiting the development of agricultural companies in Nigeria and how to overcome the developmental barriers in the agricultural sector in Nigeria. The findings from the review show that the bane of the agricultural sector in Nigeria is due to the lack of an agricultural regulatory framework and policy transmission mechanism and over-dependence on oil revenue amongst other things (Adams, 2016). It is therefore imperative for the country to embark on the development of a reliable agricultural framework and model that will aid food sufficiency in the country.

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 chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and implementation of sustainable practices. The main findings are as follows: (1) degradation of the rule of law in several European Union (EU) Member States and constant political undermining of the legal institutions represent the main threat for the implementation of sustainable practices and development; (2) the golden regulatory rule of thumb provides that regulatory intervention is suggested merely in cases of market failures under the condition that the costs of such intervention do not exceed the benefits; (3) over-regulation might impede implementation of sustainable practices, distort the operation of the market, undermine productivity, diminish growth and social wealth and consequently also sustainability; (4) efficiency and wealth maximization should be the lawmaker’s leading normative principle in designing the legal framework that will enable effective implementation of sustainable practices; (5) the efficient level of harmonization or subsidiarity of decision-making in the EU urges for a rigorous investigation of costs and benefits of the EU top-down harmonization policies which should lead to a better, efficient vertical allocation of sustainability agenda between EU and the Member States; and (6) The Reflection Paper on Sustainable Development Goals – “Towards a Sustainable Europe in 2030” – represents an effective institutional framework in pursue of the overall sustainability targets.

This study is a considered interpretation of the National Registration and Accreditation Scheme for the health professions, which commenced operations in Australia in 2010. The development of the Scheme and its operational elements (namely the Australian Health Practitioner Regulation Agency and 14 profession-specific national Boards) are positioned within the context of regulatory capitalism. Regulatory capitalism merges the experience of neoliberalism with an attentiveness to risk, particularly by the State. Nationally consistent legislation put in place a new set of arrangements that enabled the continuity of governments’ role in health workforce governance. The new arrangements resulted in an entity which is neither exclusively subservient to nor independent of the State, but rather “quasi-independent.” In exploring this arrangement, specific consideration is given to how the regulatory response matched the existing reality of a global (and national) health workforce market. This study considers this activity by the State as one of consolidation, as opposed to fracturing, against a backdrop of purposeful regulatory reform.

Purpose – Because businesses conducting e-commerce are often able to set up off-shore to avoid regulation, taxation, and other aspects of corporate responsibility, the developed-developing divide which tends to inform World Trade Organization (WTO) policies is especially an impediment to future global e-commerce. This chapter explores the particular accountability challenges represented by WTO e-commerce policies.Design/methodology/approach – The framework of inquiry focuses on a policy research study of relevant WTO e-commerce policy documents, especially the ones related to the negotiations under the WTO Work Program on Electronic Commerce and the GATS Agreement.Findings – The virtual nature of e-commerce interactions means that businesses are often able to circumvent the national boundaries and controls of conventional commerce. Because of this, the WTO and its e-commerce policy are crucial to the responsible and accountable development of future global e-commerce. Such policies need to be significantly improved as a matter of urgency to overcome current omissions and inadequacies.Research implications – Accountability gaps within WTO’s e-commerce policies provide a basis for companies from developed countries to set up off-shore to avoid their corporate social responsibilities. A constructive critique of international agency policy documents is able to provide a basis for recommending change and improvement to the overall WTO framework.Practical and social implications – Companies should profess genuine rather than merely surface commitment to global as well as local corporate social responsibilities. Likewise the WTO should also aim to practice deep rather than “shallow” accountability by aiming to rectify omissions and inequities in its e-commerce policies.

This chapter reviews possible regulatory updates needed to address the four general challenges arising from digitalization of financial services, regardless of the business models of the financial services providers. These challenges are customers' data rights, artificial intelligence (AI) ethics, cybersecurity and financial exclusion.

The task of this paper is to critique the ethics of an university entrepreneurship curriculum. For what purpose is entrepreneurship curriculum designed? Who decides what is to be included in an entrepreneurship curriculum? Ethics has a plurality and implies moral judgment informed by any individual’s values. In applying entrepreneurship education the rationale and justification of what is offered and why should be clear. The paper provides a synthesis conducted on an extant literature review on the ethics of an entrepreneurship curriculum, entrepreneurship education stakeholders, and stakeholder rights and obligations. An ethics enquiry framework is concluded that entrepreneurship education curriculum designers can apply to surface the assumptions underpinning the curriculum and assist educators to be clear and explicit about the intent and ambitions for an entrepreneurship education curriculum design. While this paper develops a framework, it has yet to be tested. Further research can examine specific sets of stakeholder expectations, variations in obligations among regulatory or institutional settings, explicitly examine the range of effects of an entrepreneurship curriculum, and report the usability and practical relevance of such an evaluative framework. Ethics in entrepreneurship education is under-researched and more particularly the ethics of the entrepreneurship curriculum appears to have rarely been questioned. Entrepreneurship education lays the foundation for the future actions of those who shape and socially structure entrepreneurship. Therefore, as educators, there is a greater responsibility for ensuring that the education provided meets certain expectations of and obligations to various stakeholder groups.