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27 May 2013

Benefits of regulatory proposals: German NKR report

The Normenkontrollrat (independent regulatory oversight body) has just published a study on international practices of quantifying the benefits of regulatory proposals in RIAs, on the basis of methodologies in Australia, the United Kingdom, the USA and the European Commission. From page 63; key findings and conclusions make some very useful points:
- there currently isn't a standalone method for measuring benefits;
- central BR units are useful in operating standardisation and quality assurance of impact assessment;
- "willingness-to-pay" is a key factor of quantification;
- assessing the initial impact of a regulatory proposal often requires a case-specific methodological approach because issues pose complex, multi-causal problems;
- results of the process often fall short of expectations; economic impact are more frequently well measured than complex social issues;
- "there is only patchy and anecdotal evidence that RIAs have a positive impact on the policy making process."

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