Institutional Specifics of Business Self-regulation

A. Obydenov

Voprosy Ekonomiki, 2003, issue 11

Abstract: Self-regulation appears to be a special institution where economic actors establish their own rules of economic activity for themselves in a specific business field. At the same time they are the object of control within these rules and the subject of legal management of the controller. Self-regulation contains necessary prerequisites for fundamental resolution of the problem of "controlling the controller". The necessary and sufficient set of five self-regulation organization functions provides efficiency of self-regulation as the institutional arrangement. The voluntary membership in a self-regulation organization is essential for ensuring self-enforcement of institutional arrangement of self-regulation.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2003:id:2108

DOI: 10.32609/0042-8736-2003-11-88-98

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