The Regulator’s Challenge: Providing Stability While Leading Change
Network, Vol. 30, pp. 2-6, 2008
10 Pages Posted: 16 Jan 2010
Date Written: October 16, 2008
In this paper, this challenge of regulating in a time of rapid and uncertain change is examined. It begins with an examination of the traditional role of regulation, namely that of controlling the exercise of market and political power, which left unchecked would limit investment in services. Successfully fulfilling this role requires that the regulator maintain some form of independence from industry and political forces and that the regulator be highly competent to perform the complex, technical work that is the bread and butter of regulator work. The current context for regulation, emphasizing the uncertainty that regulators, policymakers, and stakeholders face, is then examined. To be successful, regulators need to properly fulfill their technical roles while also helping the political process express the values that are to guide policy and helping the players in the policy and regulatory processes adapt to new realities as they emerge. The paper concludes with a description of the perils that regulators face in serving in these various roles.
Suggested Citation: Suggested Citation