Caught in quicksand? Compliance and legitimacy challenges in using regulatory sandboxes to manage emerging technologies

نویسندگان

چکیده

Regulatory sandboxes have become the latest development in regulatory reform, starting first financial regulation and now expanding to other sectors. While offer notable potential benefits for managing emerging technologies, achieving desirable policy outcomes with this novel instrument also comes technical political challenges. This article offers a framework characterize any sector, involving blend of (1) approval broad-based standards, (2) restricted discretion by regulator specific norms, (3) process-oriented regulation, (4) an outcomes-orientation, (5) structured regulator–regulatee information sharing or dialogue. Using model, outlines issues compliance legitimacy, including trust accountability, responsive enforcement, politics participation, post-sandbox oversight. The concludes calling greater scrutiny when considering implementing sandbox instrument, attention sector-specific concerns, offering directions empirical evaluation sandboxes.

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ژورنال

عنوان ژورنال: Regulation & Governance

سال: 2022

ISSN: ['1748-5991', '1748-5983']

DOI: https://doi.org/10.1111/rego.12487