Dr Ahmed Badran
Measuring the independence of the regulatory agency against the formal criteria shows a higher level of independence compared to informal measures which indicates that in practice regulatory independence is more limited. Politicians are able to circumvent formal restrictions on intervention and major incumbents use their resources of expertise to influence regulatory outcomes. Broader societal actors exert influence in the network as well as the triangle of politicians, regulators and regulated. The paper suggests areas of regulatory outcomes where narrower measures of formal independence from politicians and regulators perform well in explaining regulatory outcomes relative to the full measures of regulatory interdependence, and where they are less useful. These findings offer a way of assessing the strengths and limitations of much cross-national regulatory analysis.
Formal regulatory independence, informal regulatory independence, regulatory interdependence, regulatory networks