Forthcoming in Lutz Leisering (ed) The New Regulatory State. Regulating Private Pensions in Germany and the UK (Palgrave) The regulatory politics of private pensions in the UK and Germany
نویسنده
چکیده
It is now well-established that privatisation brings with it re-regulation, not deregulation. However, this does not mean that we should expect that the policies once pursued under public ownership will be reintroduced by regulatory means. On the contrary, privatisation can be understood as a way of institutionalising changes in policy. This is particularly evident when privatisation is accompanied by the delegation of powers to an independent regulatory authority, as has often happened when public utilities are privatised. Delegation can be a method for institutionalising the pursuit of distinct regulatory goals, generally weighted towards enhancing efficiency and promoting competition.
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