REGULATORY PUBLIC POLICIES : AN INTRODUCTORY SURVEY

Year 2016, Volume: 8 Issue: 2, 273 - 285, 01.12.2016

Coşkun Can Aktan , Coşkun Can Aktan

Abstract

Regulation is one the significant economic role and function of the government. There are many types of economic regulations that might be demanded due to various reasons. Economists have different view and theories on economic regulations. Public interest theory of regulation explains the rationale of regulation from the point of view of aiming public interest. Private interest theories of regulation developed by Chicago and Virginia school of economists suggests that regulation does not protect the public at large but only the interests of special groups. This paper aims to provide an overview of the literature concerning regulation and also review the literature on various rationales for economic regulations.

Keywords

Regulation, Market Failure

References

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