Methods of regulatory impact assessment: critical analysis and alternative method
Journal of Financial Regulation and Compliance
ISSN: 1358-1988
Article publication date: 5 September 2023
Issue publication date: 27 October 2023
Abstract
Purpose
This study aims to carry out a critical analysis of the methods used to deal with the regulatory impact assessment while proposing an alternative method to overcome some of the drawbacks of the aforementioned methods.
Design/methodology/approach
To achieve the objective of this work, the methods currently used in regulatory impact analysis are presented by highlighting their scope and the problems they may pose during their applications. After that, the adjusted variant of radial measure is suggested as an alternative method to the aforementioned methods while showing its relevance with regard to other methods using pertinent criteria. Finally, for concretization, a case study related to the sanctions against Russia after its invasion of Ukraine is presented.
Findings
The findings show that regulations related to the sanctions against Russia are good enough, with a score of 0.846. However, this score is less good in several countries like Germany (0.671), Italy (0.677) and France (0.745) and in the poorest countries.
Originality/value
The originality of this work resides in using a novel method in the regulatory impact analysis field, which is adjusted variant of radial measure. This method increases the effectiveness of the regulatory impact assessment.
Keywords
Citation
El Kadiri Boutchich, D. (2023), "Methods of regulatory impact assessment: critical analysis and alternative method", Journal of Financial Regulation and Compliance, Vol. 31 No. 5, pp. 784-799. https://doi.org/10.1108/JFRC-04-2023-0061
Publisher
:Emerald Publishing Limited
Copyright © 2023, Emerald Publishing Limited