Regulatory Impact Analysis: Integrating Pro-growth Decisions into Public Policy in Developing Countries
Many countries today have placed regulatory reform programs at the core of their governance and microeconomic strategies. Within those reforms, regulatory impact assessment (RIA) has become a prominent tool by which governments integrate benefits and costs of public policy into a balance that achieves, over time, the country’s development priorities. The spread of RIA into less-developed countries is largely due to intense pressures to stimulate growth, particularly pro-poor growth. Although RIA began as a set of analytical methods, RIA has evolved into a framework for public-private cooperation that can greatly improve the relationship between public and private sectors in effective and efficient public policy. Yet business representatives have not, in general, built capacities to assess proposals from governments, nor the capacities to collect relevant and timely information that can support the process of discovering the right solution. The private sector should ensure that it is a constructive partner in the consultation process by supplying timely, relevant, and reliable information through the consultation process.
KeywordsConsultation Process Business Association Regulatory Reform Business Representative Regulatory Impact Analysis
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