REGULATORY POLICY IN LATIN AMERICA: AN ANALYSIS OF THE STATE OF PLAY

Regulation is a critical tool by which governments seek to foster economic growth and social well-being. Countries in Latin America are increasingly investing in processes and institutions that support regulatory quality. Based on the OECD Indicators of Regulatory Policy and Governance (iREG) for Latin America 2016, this paper explores the state of play of regulatory policy in seven countries in Latin America and identifies potential opportunities to improve. The annex includes individual profiles of each of the countries covered, highlighting key achievements and challenges.

The analysis of the data shows that countries in the LAC region have taken steps to improve their regulatory governance framework but important gaps remain in most countries in terms of the implementation of key tools, such as consultation with stakeholders, Regulatory Impact Assessment (RIA) and ex post evaluation. Strengthening the institutional oversight of the regulatory process will be critical to ensure the consistent implementation of these tools in the future.

INTRODUCTION

I. GENERAL TRENDS AND INSTITUTIONAL SETTING FOR REGULATORY QUALITY

LAC countries have taken steps to adopt a whole-of-government approach on regulatory quality and to ensure high-level political support Bodies for regulatory quality are emerging but lack clear oversight functions

II. STAKEHOLDER ENGAGEMENT FOR INCLUSIVE RULE MAKING

Stakeholder engagement is used throughout the region but not systematically in most countries Formal requirements are in place but implementation lags behind The methodology of stakeholder engagement could be further improved There is scope to strengthen openness and transparency of consultation Establish effective oversight functions to ensure the implementation of stakeholder engagement

III. USE OF EVIDENCE IN THE REGULATORY PROCESS

LAC countries have started investing in the use of Regulatory Impact Assessment Efforts to review existing regulations focus on administrative simplification

CONCLUSION

REFERENCES

ANNEX A: COUNTRY PROFILES

Brazil

Chile

Colombia

Costa Rica

Ecuador

Mexico

Peru