The Theory of Economic Regulation
By G. Stigler. The Political Economy, 2021
2,926 citations recorded by the source corpus.
The potential uses of public resources and powers to improve the economic status of economic groups (such as industries and occupations) are analyzed to provide a scheme of the demand for regulation. The characteristics of the political process which allow relatively small groups to obtain such regulation is then sketched to provide elements of a theory of supply of regulation. A variety of empirical evidence and illustration is also presented.
Subfields: Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/331d34d5220d838e563de90785cc83ea6f80d538
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In Economics and Econometrics
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Citations in the corpus
- Gender diversity and bank misconduct (2021, background): “In terms of identification, one of the main issues is the regulatory capture problem (Stigler, 1971),”
- Mandatory CSR and sustainability reporting: economic analysis and literature review (2019, background): “For instance, regulators and standard setters can be captured by the regulated (e.g., Stigler 1971; Mahoney 2001).”
- Firm-level Climate Change Exposure (2020, methodology): “28 Electronic copy available at: https://ssrn.com/abstract=3642508 with the political economy literature (Peltzman, 1976; Stigler, 1971), these firms are more exposed to climate change regulation.”
- Assessing the regulatory challenges of emerging disruptive technologies (2021, background): “Regulation & Governance published by John Wiley & Sons Australia, Ltd. 5 particular regime (Stigler 1971, 1975).”
- Common ownership and competition in product markets (2021, neutral): “Further, cross-held firms also exhibit higher PCMs than competitors that are not 6U.S. Government Agencies charged with the dual mandates of promoting and regulating air travel and banking are often cited as examples of “regulatory capture,” e.g., Stigler (1971).”