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Understanding Regulation: Theory, Strategy, and Practice (Paperback)

by Robert Baldwin (Author), Martin Cave (Author) "Our aim in writing this book is to introduce readers to those practical and theoretical issues that we see as central to the study of..." (more)
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Understanding Regulation: Theory, Strategy, and Practice + An Introduction to Law and Regulation: Text and Materials (Law in Context) + Regulation: Legal Form and Economic Theory
Total RRP: £84.99
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Product details

  • Paperback: 384 pages
  • Publisher: OUP Oxford; New edition edition (27 May 1999)
  • Language English
  • ISBN-10: 0198774389
  • ISBN-13: 978-0198774389
  • Product Dimensions: 23.1 x 15.5 x 2.3 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon.co.uk Sales Rank: 207,981 in Books (See Bestsellers in Books)

    Popular in these categories:

    #56 in  Books > Business, Finance & Law > Law > Jurisdictions Other Than England & EU > Financial, Taxation, Commercial & Industrial
    #89 in  Books > Business, Finance & Law > Law > English > Commercial, Financial, Industrial & Taxation > Industrial

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Product Description

Review

It is an excellently constructed work, and provides much food for thought for the times in which we live. (New Law Journal )

The book is well researched and written with enough conviction to make a valuable contribution in developing our understanding of the choices regulation presents us with and the potential of new regulatory arrangements going forward. (Matthew Berry, Financial Adviser Careers Extra )

Some of the material is very useful and not easily available in textbook form elsewhere ... a good way of catching up on the reforms in a variety of policy sectors and thinking in different disciplines. (Public Administration )

Product Description

The way in which regulation works is a key concern of industries, consumers, citizens, and governments alike. Understanding Regulation takes the reader through the central issues of regulation and discusses these from a number of disciplinary perspectives. This book is written by a lawyer and an economist, but looks also towards business, political science, sociology, social administration, anthropology, and other disciplines. The fundamental strategies, institutions, and explanations of regulation are reviewed and the means of identifying `good' regulation are outlined. Individual chapters look at such topics as self-regulation, the regulation of risks, the cost-benefit testing of regulation, the importance of enforcement, and the challenge of regulating within Europe. The book's second part considers a series of issues of particular concern in modern utilities regulation, including the use of RPI-X price caps, the control of service quality, franchising techniques and ways of measuring regulatory performance. Questions of accountability and procedure are then examined and recent public debates on regulatory reform are reviewed. A central argument of Understanding Regulation is that regulation inevitably gives rise to political contention but that persons of different political persuasion can nevertheless converse sensibly on the search for better regulation.
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Our aim in writing this book is to introduce readers to those practical and theoretical issues that we see as central to the study of regulation. Read the first page
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19 of 20 people found the following review helpful:
5.0 out of 5 stars Comprehensive Introduction to Regulatory Issues, 26 Sep 2001
Understanding Regulation was written as a course text for the MSc in Regulation at the London School of Economics. The majority of the book is written by Rob Baldwin, currently the MSc Regulation Programme Director with Martin Cave contributing towards the more 'economistic' chapters of the book. I have had no hesitation in using Understanding Regulation in my teaching, previously at the University of the West Indies, now at the London School of Economics.

The main strength of Understanding Regulation is its general comprehensiveness. This is suitable reading for someone who is not yet familiar with the literature on regulation. Baldwin and Cave have done well to achieve such a high level of discussion, while still managing to keep things simple enough for students and people new to the field. Exhaustive footnotes provide an excellent resource for those who wish to delve further. For this reason, Understanding Regulation is often the first text I pick up when I am working on some area of regulation on which I am rusty.

One minor criticism of Understanding Regulation is its UK centred approach. While only one chapter, Chapter 14 on British Utilities Regulation, goes into the details of regulation in the UK in any depth, the underlying assumptions are often UK-specific.

This is only a minor issue. It might easily have been remedied in two ways: First, a chapter dealing with regulation and national political administrative traditions would have been appropriate, especially given the recent literature that emphasises regulatory culture; Second, I would like to have seen a chapter on regulation in developing countries. There has been some interesting discussion in the professional literature on regulatory regimes as instruments of social and economic development, of which the best is still perhaps Levy & Spiller's book, Regulations, Institutions and Commitment (Cambridge University Press, 1996). This growing area deserves some consideration.

These minor quibbles notwithstanding, I have no hesitation in saying that Understanding Regulation is essential reading.

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