Management-Based Regulation: Using Private Management to Achieve Public Goals
Law & Society Review, Vol. 37, p. 691, 2003
39 Pages Posted: 25 Feb 2002 Last revised: 12 Feb 2012
Date Written: 2004
We examine a rapidly emerging regulatory approach that we label management-based regulation. Management-based regulation shifts the locus of policy discretion from the government regulator to the regulated entity. Government directs private firms to incorporate public goals into their management practices, and provides general guidelines by which private management will be judged. We outline the conditions under which management-based regulation is likely to be an appropriate government strategy and discuss three applications of this approach.
Keywords: Business and Government Policy, Environment and Natural Resources, Law and Legal Institutions, Regulation
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