When to Punish, When to Persuade and When to Reward: Strengthening Responsive Regulation with the Regulatory Diamond
Monash University Law Review Vol. 41(1) 2015
27 Pages Posted: 8 Dec 2015
Date Written: November 19, 2015
Originally published over two decades ago, ‘responsive regulation’ and its associated regulatory pyramid have become touchstones in the contemporary study and practice of regulation. Influential ideas and theories about regulation and governance have been developed in the intervening years, yet responsive regulation’s simple pyramidal model continues to resonate with policy-makers and scholars alike. This article seeks to advance the vision and utility of responsive regulation, by responding to several key drawbacks of the original design and by offering an update to the pyramidal model of regulation that lies at the centre of the theory. It argues for a ‘regulatory diamond’ as a strengthened, renewed model for responsive regulation. Rooted within the responsive regulation literature, the regulatory diamond integrates into the one schema both ‘compliance regulation' and ‘aspirational regulation’, thereby offering a more cohesive representation of the broad conception of regulation that underpins responsive regulation theory, and the limited but vital role of law within it.
Keywords: responsive regulation; Braithwaite; compliance; aspirational regulation; regulatory theory; regulation; pyramid; diamond
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