April 10, 2014

Identifying the Problem: The First Step in the Regulatory Process

Jerry Ellig

Research Professor, George Washington University Regulatory Studies Center

 

The regulatory process consists of many stages, but the essential first step is answering the question "what's the problem?" A thorough regulatory impact analysis should provide evidence that the regulation addresses a significant, systemic problem and trace that problem back to its root cause. A cursory or faulty analysis of the problem prevents regulators from devising an effective solution and considering realistic alternatives.
https://www.mercatus.org/events/identifying-problem-first-step-regulatory-process

The regulatory process consists of many stages, but the essential first step is answering the question "what's the problem?" A thorough regulatory impact analysis should provide evidence that the regulation addresses a significant, systemic problem and trace that problem back to its root cause. A cursory or faulty analysis of the problem prevents regulators from devising an effective solution and considering realistic alternatives.