From Government to Regulatory Governance

Publication:
From Government to Regulatory Governance

dc.contributor.author	Bortolotti, Bernardo
dc.contributor.author	Perotti, Enrico
dc.date.accessioned	2012-03-30T07:12:32Z
dc.date.available	2012-03-30T07:12:32Z
dc.date.issued	2007-03-01
dc.description.abstract	This article reviews the state of thinking on the governance role of public ownership and control. Optimal governance systems depend on the path of institutional development. Nevertheless, the transfer of operational control over productive assets to the private sector often yields a desirable governance system, because it may be more difficult for citizens to constrain political abuse than for governments to regulate private activity. In weak institutional environments, however, the process needs to be structured to avoid capture of the regulatory process. The speed of transfer should be matched to progress in developing a strong regulatory governance system, to which certain residual rights of intervention must be vested. After all, “institutions” are simply governance mechanisms with some degree of autonomy from both political and private interests. The gradual creation of institutions partially shielded from political power must become central to the development of an optimal mode of regulatory governance. The article presents suggestions for establishing accountability in regulatory governance, in particular by creating an internal control system based on a rotating board with representatives of users, producers, and civil society, in a process involving frequent reporting and disclosure.	en
dc.identifier.citation	World Bank Research Observer
dc.identifier.doi	10.1596/4404
dc.identifier.issn	1564-6971
dc.identifier.uri	https://hdl.handle.net/10986/4404
dc.publisher	World Bank
dc.relation.ispartofseries	World Bank Research Observer
dc.rights	CC BY-NC-ND 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.subject	accountability
dc.subject	citizens
dc.subject	constituencies
dc.subject	degree of autonomy
dc.subject	disclosure
dc.subject	financial crises
dc.subject	financial institutions
dc.subject	institutional development
dc.subject	nationalization
dc.subject	political power
dc.subject	politicians
dc.subject	public control
dc.subject	public subsidies
dc.subject	representatives
dc.subject	social control
dc.subject	social equity
dc.subject	state enterprises
dc.subject	state ownership
dc.subject	state planning
dc.subject	state-owned enterprises
dc.title	From Government to Regulatory Governance	en
dc.title.alternative	Privatization and the Residual Role of the State	en
dc.type	Journal Article	en
dc.type	Article de journal	fr
dc.type	Artículo de revista	es
dspace.entity.type	Publication
okr.crosscuttingsolutionarea	Public-Private Partnerships
okr.date.doiregistration	2025-05-06T11:20:17.289147Z
okr.doctype	Journal Article
okr.globalpractice	Governance
okr.globalpractice	Trade and Competitiveness
okr.identifier.report	1
okr.language.supported	en
okr.pagenumber	53
okr.pagenumber	66
okr.pdfurl	wbro_22_1_53.pdf	en
okr.peerreview	Academic Peer Review
okr.region.country	Russian Federation
okr.topic	Governance::National Governance
okr.topic	Private Sector Development::Emerging Markets
okr.topic	Banks and Banking Reform
okr.topic	Public Sector Corruption and Anticorruption Measures
okr.topic	Private Sector Development::Privatization
okr.volume	22
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relation.isJournalIssueOfPublication.latestForDiscovery	560b2ad2-10eb-4fd1-9d0a-bd7cb91c8990
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relation.isJournalVolumeOfPublication	ae9dcaa4-e2d9-4e9a-b9f4-3ec74d20184b