Risk and Regulatory Policy
Improving the Governance of Risk
We expect governments to protect citizens from the adverse consequences of hazardous
events. At the same time it is not possible or necessarily in the best interest of
citizens for all risks to be removed. A risk-based approach to the design and implementation
of regulation can help to ensure that regulatory approaches are efficient, effective
and account for risk/risk tradeoffs across policy objectives. Risk-based approaches
to the design of regulation and compliance strategies can improve the welfare of citizens
by providing better protection, more efficient government services and reduced costs
for business. Across the OECD there is great potential to improve the operation of
risk policy as few governments have taken steps to develop a coherent risk governance
policy for managing regulation.
This publication presents recent OECD research and analysis on risk and regulatory
policy. The chapters discuss core challenges today. They offer measures for developing,
or improving, coherent risk governance policies. Topics include: challenges in designing
regulatory policy frameworks to manage risks; different cultural and legal dimensions
of risk regulatory concepts across OECD; analytical models and principles for decision
making in uncertain situations; key elements of risk regulation and governance institutions;
the use of management-based regulation to help firms make risk-related behavioural
changes; an analysis of the risk-based frameworks of regulators in five OECD countries
(Australia, Ireland, Netherlands, Portugal, United Kingdom) and across four sectors:
environment, food safety, financial markets and health and safety; and the elements
for designing formal guidelines for risk prioritisation, assessment, management and
communication.
Published on April 09, 2010
In series:OECD Reviews of Regulatory Reformview more titles