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Regulators have long been aware of the social aspects of communication. In the past, regulated monopolists have provided Universal Service Obligations, typically funded via a system of cross-subsidies. In this paper, we first review the rationale for imposing Universal Service Obligations, based...
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Why regulate -- Explaining regulation -- Regulatory strategies -- Who regulates? Institutions and structures -- What is … 'good' regulation? -- The cost-benefit testing of regulation -- Enforcing regulation -- Setting standards -- Self-regulation … -- Regulating risks -- Regulation in the European context -- Regulatory competition and coordination -- British utilities regulation …
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"This essay shows that government credit-allocation schemes generate incentive conflicts that undermine the quality of bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory culture that embraces three economically contradictory...
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