The Evolution of Western Regulatory Economics

Author: Zhang Hongfeng
Publisher:
Publish Date: 2005-10-01
Features: This book, under the dynamic framework of Western regulatory practice changes—regulation, deregulation, re-regulation, and coexistence of regulation and deregulation—divides Western regulatory economics into four major theories based on four research themes in the Western regulatory field: "market failures and government corrective measures, evaluating the effectiveness of regulatory policies, seeking the political reasons behind regulatory policies, and incentive issues in regulation." It comprehensively reviews these four theories and their sub-theories from a historical development perspective, examining their main viewpoints, methodologies, internal connections, flaws, and breakthroughs. It highlights the challenges facing further development in Western regulatory economics, thereby presenting a full picture of its evolution and revealing its underlying logic. Additionally, it provides a proper evaluation of Western regulatory economics and its evolution, exploring its implications and offering in-depth reflections on how to construct a regulatory economics rooted in the socialist market economy. The ultimate research goal of this book is to provide a theoretical basis for the Chinese government to understand why and how to intervene in the economy at the micro level as the reform of the socialist market economy system gradually deepens.