NO : WP-2016-025
AUTHOR : Anirudh Burman and Bhargavi Zaveri
TITLE : Regulatory responsiveness in India: A normative and empirical framework for assessment
This paper seeks to measure the extent to which Indian regulators are responsive in the performance of their functions. The paper focuses on one function common to all Indian statutory regulators, namely, regulation making. To measure responsiveness, the paper constructs an index of benchmarks of responsive conduct, with corresponding quantifiable outputs. It empirically measures the responsiveness of the telecom and securities markets regulators in India, on this index. The paper finds that there are significant differences among the laws governing Indian regulators in the context of the requirement to be responsive, and that the degree of responsiveness of Indian regulators is directly proportional to the legal requirement for following participatory processes.
Keywords : Regulatory performance; regulatory accountability; regulatory responsiveness; regulatory benchmarking; legal basis for responsiveness
JEL Code :K40, O17, P34, P37, P48