Fostering Innovation Growth through Regulatory Reform

Jung-Soo Park ()
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Jung-Soo Park: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 21/10, Research Papers from Korea Institute for Industrial Economics and Trade

Abstract: This study takes a comprehensive look at the overall flexibility of regulatory governance in Korea, including the design, implementation, and monitoring of the many issues surrounding regulatory reform that stand in the way of innovation growth. Based on the findings of the analysis, the paper provides recommendations for the direction of regulatory reforms. The paper additionally finds that while there are many mechanisms in place for regulatory reform, very little reform has actually occurred. An important point is that when formerly restricted industries are allowed to operate after changes are made to laws and institutions, this in itself does not increase regulatory flexibility. The authors of the study recommend expanding negative regulations along with enhancing their efficiency as a means of achieving real results and actualizing innovation growth.

Keywords: regulatory reform; innovation; innovation policy; growth policy; innovation growth; competition policy; competitiveness; manufacturing policy; automotive industry; auto industry; environmental policy; policy reform; negative regulations; regulatory systems; deregulation (search for similar items in EconPapers)
JEL-codes: G18 G38 K20 K22 K23 K24 K32 L50 L51 L52 L53 L60 L78 L88 L98 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2021-01-28
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kietrp:2021_010

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