Regulatory responsiveness in India: A normative and empirical framework for assessment

Anirudh Burman () and Bhargavi Zaveri ()
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Anirudh Burman: National Institute of Public Finance and Policy
Bhargavi Zaveri: Indira Gandhi Institute of Development Research

Indira Gandhi Institute of Development Research, Mumbai Working Papers from Indira Gandhi Institute of Development Research, Mumbai, India

Abstract: This paper seeks to measure the extent to which Indian regulators are responsive in the performance of their functions. The paper focuses on one function common to all Indian statutory regulators, namely, regulation making. To measure responsiveness, the paper constructs an index of benchmarks of responsive conduct, with corresponding quantifiable outputs. It empirically measures the responsiveness of the telecom and securities markets regulators in India, on this index. The paper finds that there are significant differences among the laws governing Indian regulators in the context of the requirement to be responsive, and that the degree of responsiveness of Indian regulators is directly proportional to the legal requirement for following participatory processes.

Keywords: Regulatory performance; regulatory accountability; regulatory responsiveness; regulatory benchmarking; legal basis for responsiveness (search for similar items in EconPapers)
JEL-codes: K40 O17 P34 P37 P48 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2016-07
New Economics Papers: this item is included in nep-law
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ind:igiwpp:2016-025

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