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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP10838 |
DP10838 Politically Induced Regulatory Risk and Independent Regulatory Agencies | |
Roland Strausz | |
发表日期 | 2015-09-20 |
出版年 | 2015 |
语种 | 英语 |
摘要 | Uncertainty in election outcomes generates politically induced regulatory risk. Political parties' risk attitudes towards such risk depend on a fluctuation effect that hurts both parties and an output--expansion effect that benefits at least one party. Notwithstanding the parties' risk attitudes, political parties have incentives to negotiate away all regulatory risk by pre-electoral bargaining. Efficient pre-electoral bargaining outcomes fully eliminate politically induced regulatory risk. Political parties can implement such outcomes by institutionalizing politically independent regulatory agencies and endowing them with a specific objective. |
主题 | Industrial Organization ; Public Economics |
关键词 | Electoral uncertainty Independent regulatory agency Regulation Regulatory risk |
URL | https://cepr.org/publications/dp10838 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539667 |
推荐引用方式 GB/T 7714 | Roland Strausz. DP10838 Politically Induced Regulatory Risk and Independent Regulatory Agencies. 2015. |
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