Regulation and Failure (Regulación y Fallas) (Spanish)
Revista de Economía Institucional, Vol. 12, No. 23, pp. 13-28, 2010
16 Pages Posted: 13 Dec 2010
Date Written: December 13, 2010
Government plays a necessary role in keeping markets working efficiently and fairly. Market failures – situations in which the invisible hand does not make everyone better off – are among the oldest and most universally accepted justifications for regulation. However, incidents of market failure are more pervasive than recognized and underappreciated. Well-designed regulatory interventions can often correct these market failures.
Note: Downloadable document is in Spanish.
Keywords: Regulation, Market-Failure
JEL Classification: G18, O16
Suggested Citation: Suggested Citation