Role of Regulation

The establishment of regulatory networks such as monashreg is motivated by the need to understand better the various forces that comprise contemporary regulation. The strategic importance of regulation in daily life is increasing rapidly in all countries around the world as the effects of globalisation and dynamic technological development grow in their extent and intensity, and national economies and societies become more inter-connected and inter-dependent.

Regulation may be local, national, international and indeed global in its effects. It is important to note that regulation is much more than an instrument of public policy. In addition to the various agencies of the state, there are a broad and growing number of actors that may wield significant levels of regulatory authority, which in turn have substantial impacts on people, organisations, nation states and environments. These sites of regulatory authority may be quite diverse and include regulatory actors such as industry associations, multi-lateral organisations like the World Trade Organisation, professional associations, business entities and self-regulatory organisations.

monashreg acknowledges the importance of these regulatory developments and acts as a forum in which information, ideas and expertise about the structures and processes that constitute regulation may be gathered and exchanged.