Challenges for Regulatory Impact Analysis
AbstractRegulations are important in achieving economic and social goals. Governments must ensure that their legislation is as up-to-date as possible, while reflecting current issues of public concern. At the same time, governments need to have processes in place to review the extent to which existing regulations are achieving their objectives. Techniques, such as Regulatory Impact Analysis (RIA), are used to help produce better regulations at minimum cost. While RIA is relatively new in Ireland, it has already gained widespread acceptance in developed economies and throughout the EU. This article outlines what RIA involves, where it is being applied, describes the Irish experience of RIA, and offers suggestions as to how it can be made more robust in its application.
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