Risk Governance and Risk-Based Regulation: A Review of the International Academic Literature

Abstract

This research paper presents findings from a broad scoping of the international academic literature on the use of risk governance and risk-based regulation. It addresses six themes: (1) the evolution of thinking about risk, risk governance and risk-based regulation, (2) examples of risk governance and risk-based regulation, (3) evidence of the performance of risk governance and risk-based regulation, and (4) the epistemic challenges and (5) ethical challenges that come with this approach to regulatory governance and practice.

Keywords: risk governance, risk-based regulation, regulatory governance

JEL Classification: K20, K23, E61, H83