This publication guides policymakers in the design of regulatory systems that result in an efficient, effective and transparent management of risks.
Recent years have been marked by many catastrophic events both natural and man-made. Close interconnections mean that the impact of these crises has been felt throughout the world. Although many tools have been developed to manage risks successfully, there can be no doubt that many of the losses we have recently witnessed could have been prevented, or minimized, in the context of an effective and well-balanced regulatory system.
The goal of this publication is to provide insights and recommendations for policymakers on designing regulatory systems that result in an efficient, effective and transparent management of risks. Laws, administrative measures and technical regulations, can help make products safe and business processes stable, without compromising economic development or international trade.
This is a practical book. It introduces a holistic model of a regulatory system, function by function and with real-life examples, which is based on the objective of managing risks effectively. The model shows how policymakers can adapt each phase of the risk management process to the reality of a regulatory system. We hope it will be used to establish a process for structuring collaboration among all stakeholders involved in designing and implementing regulations.