Our colleagues from Israel have just published online a particularly complete RIA handbook which will enrich the literature on this key tool in the search for "optimal regulation" (the term used in the handbook). The IL approach is quite distinctive and merits consideration, as it breakdowns the RIA process into five "stages" covering the whole regulatory cycle, integrating up-to-date international best practice:
- describing the status quo and defining policy goals;
- risk management, to determine the most efficient regulatory instrument for each "risk component" in the policy under consideration;
- assessing impacts including feedback from consultation procedures and comparing advantages and disadvantages of various projected regulations (options);
- anticipating implementation of the chosen solution to achieve success of the policy (including enforcement and inspection issues);
- public reporting to achieve transparency and accountability in regulatory design.
Other RIA methodologies and resources (from other countries) can be found on the OECD RIA pages.
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