Regulatory capabilities: A normative framework for assessing the distributional effects of regulation

• 成果类型: Article
• 署名作者: Cafaggi, Fabrizio; Pistor, Katharina
• 署名单位: Columbia University
• 刊物名称: REGULATION & GOVERNANCE
• ISSN/ISSBN: 1748-5983
• DOI: 10.1111/rego.12065
• 发表日期: 2015
• 页码: 95-107
• 关键词: GOVERNANCE; ACCOUNTABILITY; MARKETS

摘要

This paper develops the normative concept of regulatory capabilities. It asserts that nobody - individuals, groups, or entities - should be subjected to a regulatory regime without some freedom to determine its nature. Self-determination in this context means the ability to accept or reject a regulatory regime imposed by others or to develop viable alternative approaches. We use the term regulatory capabilities to capture the importance of enabling conditions for regulatory self-determination. This is particularly important in the transnational context where private, hybrid public-private, and public actors compete for influence, shape domestic regulation, and, in doing so, limit the scope for democratic self-governance. In short, this paper seeks to contribute to the general debate on the normative foundations of and the requisite conditions for transnational regulation and governance.