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Optimal enforcement: Finding the right balance

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  • Jaime Andrés ESTRADA

Abstract

The regulatory process comprises three interdependent stages: the design of legislation, the creation of regulatory administrations, and the accomplishment of those rules by the persons or institutions sought to be controlled. This last stage is commonly referred as enforcement. This paper aim to discuss, firstly, the definition and importance of enforcement for a market based economy and, secondly, analyses the different styles of enforcement strategies finding that efficient regulation requires a balance between punishment and persuasion strategies.

Suggested Citation

  • Jaime Andrés ESTRADA, 2002. "Optimal enforcement: Finding the right balance," Archivos de Economía 3302, Departamento Nacional de Planeación.
    • Handle: RePEc:col:000118:003302
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    Cited by:

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    2. Enrique PINZON GARCIA & Oscar M. VALENCIA ARANA, 2006. "The Determinants of Colombian Firm´s Debt-Asset Ratio (1997-2003)," Archivos de Economía 3582, Departamento Nacional de Planeación.
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    Keywords

    regulatory process;

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