A View of Developments in Regulation: through the trees to the woods

Abstract

Regulation has evolved significantly over recent decades. The quality of regulation and its implementation is critical to our wellbeing and is in the spotlight now more than ever. While significant developments have occurred, enduring challenges remain relating to the complexity of regulation, its political nature, regulatory capture and regulatory failure, institutional design, regulatory policy design, and the quality of regulatory practice. Whether creating or responding to these challenges, all involved are driven by their view of what is best for the purpose and the people they serve. New Zealand is reasonably well placed to make regulation a more positive force if we can find a way to build effectively on recent efforts in a more sustainable way.