operate within institutional frameworks, parts
of which are formed by regulations that aim to
achieve social objectives or remedy market failures.
But there are many ways to do so. As a result,
governments should clearly define policy targets
and ensure that they are cost effective at achieving
these objectives. A more elaborate approach would
also include a thorough assessment of the costs
and benefits to be expected.
All these efforts
should ultimately establish a "culture of
evaluation" in Europe, all the more indispensible
because the European project has brought on an
extra layer of regulatory complexity.
In this context,
regulatory impact analysis (RIA) aims to conduct
thorough and non-partisan assessments of the extent
to which regulations achieve their objectives,
the costs and distortions they create and how
they compare to alternative regulatory instruments
Some links on Regulatory Impact
European Union: Better