Defining Regulatory Management Systems
This technical paper explores what is meant by 'a regulatory management system' and what the 'elements' of an RMS are. We distinguish between the formal system (what is in place) from the requisite regulatory management system (what is required for an ideal or high-performing regulatory management system). By the formal regulatory management system we mean the set of special measures that apply to the development of new, or the review of existing, regulations but do not apply to other policy interventions. By the requisite regulatory management system we mean the full set of functionality that is needed in a high-performing or ideal system.
This distinction was important in the development of the case studies used in the project that discuss both how the formal regulatory management system affected the outcomes of the case studies and how a requisite system might have changed those outcomes.