This article is about a partially untold story: the central role played by intermediate or ‘meso’ institutions in urban water supply. Three central functions are identified: translating policies and laws into operational targets; monitoring; and incentivizing operators. This paper considers which aspects of institutional design and capacity allow meso-institutions to perform these functions successfully, and conversely what constrains them from doing so. It explores this issue through a careful examination of urban water provision in seven Asian cities which represent a range of macro-institutional environments and micro-institutional arrangements. The analysis shows that in many cases meso functions are performed inadequately or not at all for water supply, with negative consequences for the quality of service. This is particularly evident in cases where ownership and decision rights are not clearly defined and allocated.

This paper explores the role of microeconomic analysis in policy formulation by assessing how the regulatory impact analyses (RIAs) that federal regulatory agencies prepare for important proposed rules may affect outcomes when regulations are challenged in court. Conventional wisdom among economists and senior regulatory officials in federal agencies suggests that high-quality economic analysis can help a regulation survive such challenges, particularly when the agency explains how the analysis affected decisions. However, highlighting the economic analysis may also increase the risk a regulation could be overturned by inviting court scrutiny of the RIA. Using a dataset of economically significant, prescriptive regulations proposed between 2008 and 2013, we put these conjectures to the test, studying the relationships between the quality of the RIA accompanying each rule, the agency’s explanation of how the analysis influenced its rulemaking decisions, and whether the rule was overturned when challenged in court. The regression results suggest that higher-quality RIAs are associated with a lower likelihood that the associated rules are later invalidated by courts, provided that the agency explained how it used the RIA in its decisions. Similarly, when the agency described how the RIA was used, a poor-quality analysis appears to increase the likelihood that the regulation is overturned, perhaps because it invites a greater level of court scrutiny. In contrast, when the agency does not describe how the RIA was utilized, there is no correlation between the quality of analysis and the likelihood that the regulation will be invalidated.

The Artificial Intelligence Act (AI Act) of the European Union (EU) claims to be based on a risk-based approach to avoid over-regulation and to respect the principle of legislative proportionality. This paper argues that risk-based regulation is indeed the right approach to AI regulation. At the same time, however, the paper shows that important provisions of the AI Act do not follow a truly risk-based approach. Yet, this is nothing that cannot be fixed. The AI Act provides for sufficient tools to support future-proof legislation and to implement it in line with a genuine risk-based approach. Against this background, the paper analyses how the AI Act should be applied and implemented according to its original intention of a risk-based approach, and what lessons legislators around the world can learn from the AI Act in regulating AI.

Outlining the economic significance of the role of global supply chains (GSCs) in the organisation of the global economy, this paper initially presents some indications of health and safety outcomes in low- and middle-income counties (LMICs) where GSCs source much of the production destined for use in advanced economies. It goes on to discuss the operational dynamics of these chains and the corporate priorities that they reflect, which, it argues, do little to improve the poor work health and safety (WHS) outcomes in LMICs. It then examines evidence for the effectiveness of various private and public regulatory strategies that are claimed to bring about improved health and safety practices and outcomes among GSC suppliers in these countries. The paper critically evaluates this evidence and argues that, while there may be some examples of effective strategies and regulatory practices in particular contexts, their overall influence remains limited. It identifies and discusses the principal reasons for these limitations and concludes that the global regulation of conditions of labour – including WHS – at the end of GSCs falls well short of universal best practice and is, more generally, insufficient to counter the economic forces working against the maintenance of adequate standards of worker protection.

We argue it is efficient/desirable for central banks to operate retail Instant Payments (IP) schemes and infrastructure, considering that (i) payment service providers (PSPs) face a problem of collective action, which limits their capacity to deliver a cheap, fast, open-architecture and interoperable IP scheme; and (ii) this problem may be overcome by a central bank (economically neutral actor) with a dual role of regulator and operator of IP schemes, especially by mandating participation of large PSPs and ensuring that the low cost of infrastructure is passed on to consumers. We corroborate with data from Brazil’s Pix and India’s UPI, where the efficiencies of central bank-led IP schemes also led to social gains through financial inclusion.

This paper examines the historical development and contemporary landscape of Islamic financial law in Central Asia. Rooted in Sharia principles such as avoiding riba (usury), gharar (uncertainty), and maysir (gambling), Islamic finance has evolved into a sophisticated framework that promotes equity, transparency, and social welfare. In Central Asia, a predominantly Muslim region shaped by diverse cultural influences, Islamic financial jurisprudence reflects a unique blend of traditional practices and modern regulations. The growth of Islamic finance in this region is driven by increasing awareness, regulatory support, and integration with global markets. Key principles like the prohibition of interest, risk-sharing, and asset-backed financing underpin the operations of Islamic financial institutions.

Case studies from Kazakhstan, Uzbekistan, and Tajikistan illustrate successful implementation strategies. The paper concludes by emphasizing the potential for Islamic finance to drive sustainable economic development in Central Asia and the need for ongoing research, collaboration, and policy support to navigate the complex dynamics of this evolving field.

Young people with intellectual disability (ID) frequently have challenges with self-regulation that impact their success and participation in daily life. As they often require additional support with self-regulation, it is important to consider regulatory function and skill development within the context of co-regulatory interactions with caregivers. This scoping review aimed to identify factors associated with improved self-regulation and co-regulation in young people with ID. The review was conducted using Arksey and O’Malley’s (2005) framework, with 142 full-text records reviewed and critically appraised. The diverse factors that affect regulatory function in young people with ID fit within the five categories identified in the model of factors contributing to self-regulation enactment — biology, skills, motivation, caregiver support, and environmental context — highlighting the relevance of this model to regulatory function for this population. This review’s findings allow this model to be refined further for young people with ID, identifying the unique factors contributing to self-regulation enactment for this population and intervention characteristics that may support regulatory function for these individuals.

The Australian debate over Investor-State Dispute Settlement (ISDS) sharpened in 2023 because Australian mining billionaire Clive Palmer, having previously registered his mining company in Singapore, has claimed to be a Singaporean investor. He is using ISDS provisions in the 2012 ASEAN-Australia-New Zealand Free Trade Agreement and the amended 2017 Singapore-Australia Free Trade Agreement to sue the Australian government for a total of A$410 billion in three separate claims. This article uses Cox’s critical theory framework developed by Schneiderman to explain the historical development and power dynamics of ISDS, the contest between its business supporters and social movement critics, and the impact of this contest on governments. It then analyses the Palmer claims and explores the global debate about ISDS, including its increased use by fossil fuel companies against government regulation of carbon emissions, which has led to increased resistance from social movements and governments. ISDS is also being reviewed by the United Nations and World Bank institutions which provide arbitrators for its tribunals and by the Organisation for Economic Co-operation and Development. The conclusion assesses the debate over whether ISDS can be reformed and its future viability.

Currently, scholars hold that the government’s principal contribution to the California wine industry’s recovery from Prohibition in the 1930s was to get out of the way, freeing entrepreneurs to conduct business properly; according to this interpretation, the United States only taxed the product and impeded progress. But this article argues that in the areas of regulation, promotion, and protection of the wine industry, the federal government provided a framework for California winemakers to succeed and that, moreover, it often did so at their request and in cooperation with them. Though New Deal laws and regulations did not benefit all stakeholders equally, they did work to bring economic recovery to an industry that suffered from both Prohibition and the Depression.