The New Punitive Regulation

33 Pages Posted: 17 Jun 2004

See all articles by Robert Baldwin

Robert Baldwin

London School of Economics - Law Department

Abstract

There is now some evidence of a potential drift towards 'punitive' approaches to regulation in which greater emphasis is placed on criminal sanctions. This new enthusiasm for punishment can be seen in government policy, legislation and some regulators' public stances. There is evidence, however, that companies (even top ones) deal with punitive regulatory risks in a confused manner and that even when they do act rationally, this may not lead to compliance. One response to punitive approaches and their limitations is to move towards greater reliance on stimulating the self-regulatory capacities of corporations. Such stimulation, however, has to be carried out with an awareness of the dangers of self-regulation - notably that it may lead to controls that lack legitimacy, prove unfair and are exclusive and inefficient.

Suggested Citation

Baldwin, Robert, The New Punitive Regulation. Available at SSRN: https://ssrn.com/abstract=536347

Robert Baldwin (Contact Author)

London School of Economics - Law Department ( email )

Houghton Street
London WC2A 2AE, WC2A 2AE
United Kingdom
44 0171 955 7258 (Phone)

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