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Institutional Specifics of Business Self-regulation

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  • A. Obydenov

Abstract

Self-regulation appears to be a special institution where economic actors establish their own rules of economic activity for themselves in a specific business field. At the same time they are the object of control within these rules and the subject of legal management of the controller. Self-regulation contains necessary prerequisites for fundamental resolution of the problem of "controlling the controller". The necessary and sufficient set of five self-regulation organization functions provides efficiency of self-regulation as the institutional arrangement. The voluntary membership in a self-regulation organization is essential for ensuring self-enforcement of institutional arrangement of self-regulation.

Suggested Citation

  • A. Obydenov, 2003. "Institutional Specifics of Business Self-regulation," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 11.
    • Handle: RePEc:nos:voprec:y:2003:id:2108
    DOI: 10.32609/0042-8736-2003-11-88-98
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