Book contents
- An Introduction to Law and Regulation
- Law in Context
- An Introduction to Law and Regulation
- Copyright page
- Dedication
- Contents
- Foreword
- Preface
- Acknowledgements
- Introduction
- Part I Foundations
- Part II Design, Dynamics and Implementation
- Part III Evaluation
- 11 Regulatory Legitimacy
- 12 Regulatory Accountability
- Conclusion
- References
- Index
12 - Regulatory Accountability
from Part III - Evaluation
Published online by Cambridge University Press: 22 November 2024
- An Introduction to Law and Regulation
- Law in Context
- An Introduction to Law and Regulation
- Copyright page
- Dedication
- Contents
- Foreword
- Preface
- Acknowledgements
- Introduction
- Part I Foundations
- Part II Design, Dynamics and Implementation
- Part III Evaluation
- 11 Regulatory Legitimacy
- 12 Regulatory Accountability
- Conclusion
- References
- Index
Summary
Chapter 12 discusses accountability in regulation. Accountability is part of a family of concepts that relate to the exercise of power and its abuses. It construes the relationship between regulators and regulatees according to principal-agent theory and explains how accountability can be an important mechanism for requiring answerability, ensuring that agents (regulators) do not drift from the interests of regulatees. The chapter explains that accountability consists of four elements: (i) a duty to explain; (ii) exposure to scrutiny; (iii) a potential ‘sanction’ or a consequence of some kind; and (iv) the possibility of being subject to independent review.
Keywords
- Type
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- Information
- An Introduction to Law and RegulationText and Materials, pp. 357 - 387Publisher: Cambridge University PressPrint publication year: 2024