Regulatory Impact Assessment (RIA) is a core regulatory management tool. It helps to base decisions whether to adopt or change laws and regulations on facts and evidence. RIA is about taking into considerations all alternative solutions, which sometimes may include non-regulatory ones or simply doing nothing. It provides necessary information on costs and benefits to different stakeholders and analyses economic, environmental and social impacts of potential solutions. RIA makes consultations and engagement with stakeholders a firm part of any legislation-making process.
This new OECD guidance provides a summary of key elements that every good RIA framework should contain. At the same time, it provides useful advice on all important steps policy-makers should follow if they want to implement RIA successfully while also not being too prescriptive and respecting administrative and cultural differences among countries.
Annexes to the OECD Best Practice Principles on Regulatory Impact Assessment
For further information, please contact Daniel Trnka, OECD Regulatory Policy Division.