British economic regulators in an age of politicisation: from the responsible to the responsive regulatory state?

Koop, Christel and Lodge, Martin ORCID: 0000-0002-4273-6118 (2020) British economic regulators in an age of politicisation: from the responsible to the responsive regulatory state? Journal of European Public Policy, 27 (11). 1612 - 1635. ISSN 1350-1763

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Abstract

The regulatory state that developed in Britain and elsewhere in the 1980s and 1990s was characterised by independent agencies, efficiency-based objectives, ‘econocratic’ analysis, and an emphasis on output- and outcome-based legitimacy. Yet, with economic regulation becoming increasingly politicised, the ‘responsible’ regulatory state has come under pressure. How have British regulators adapted to these changes? Building primarily on interviews with regulators, we find that the regulatory state has become more responsive to broader political and public concerns. Key responsible features have been maintained, but new responsive layers have been added, contributing to a broadening of decision-making and conceptions of regulation, a greater role for communication and outward-oriented activities, and a widening of stakeholder engagement and accountability. Though supporting theories of organisational reputation and survival, the (ongoing) changes raise new questions about how much ‘political space’ independent economic regulators can feasibly and legitimately occupy.

Item Type:	Article
Official URL:	https://www.tandfonline.com/toc/rjpp20/current
Additional Information:	© 2020 Informa UK Limited, trading as Taylor & Francis Group
Divisions:	Government
Subjects:	H Social Sciences > HD Industries. Land use. Labor J Political Science > JF Political institutions (General)
Date Deposited:	17 Aug 2020 16:24
Last Modified:	01 Nov 2024 23:24
URI:	http://eprints.lse.ac.uk/id/eprint/106179

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