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Welfare (2)

Welfare (2)

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Published by sanelnair

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Published by: sanelnair on Apr 07, 2010
Copyright:Attribution Non-commercial

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07/26/2010

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IIPM
WELFARE ECONOMICS
ASSIGNMENT
PREPARED BY:SUBMITTEDTO:SANEL K. NAIRPROF. USHAVENKATESH
 
PGP/SS/09-11/IIPM-I
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Q.1 Market Regulation & working of Regulators
Ans:
Regulation is essential for the functioning of society and theeconomy. But poor-quality regulations can impose unnecessary costson the community, innovation and stifle competitive pressures. This isaimed at building policy support and skills which promote high-qualityregulations in member countries. Particular emphasis is placed onresearching and disseminating information on good practices relatingto regulatory policy, institutions and tools. The main areas of workaddressed by the division are listed under. Laws and regulationssometimes affect the nature and degree of competition, so it's valuableto assess those effects when comparing policy options. Well focusedregulations that do not unduly restrict competition are more likely toachieve their objectives and enhance consumer welfare. Assessmentand advocacy with a view to enhancing competition is an importantrole for government officials and the public policy community.Facilitating trade is about streamlining and simplifyinginternational trade procedures in order to allow for easier flow of goodsand trade at both national and international level. OECD analyses thebenefits and costs of trade facilitation efforts and also provides supportto WTO discussions in this area. Launched in 2001, the OECD e-Government Project explores how governments can best exploitinformation and communication technologies (ICT), good governanceprinciples and achieves public policy goals. The Project producesreports on best practices and develops frameworks for addressingissues such as cost/benefit analysis, e-services and take-up. It alsocarries out country peer reviews on e-government. These reviews placee-government in a national context, and help identify the strengths andweaknesses of national e-government program.
Q.2 Regulation in India and real situationAns:
In India there are many regulators -- namely the Reserve Bankof India, SEBI, FMC, Insurance Regulatory and Development Authority --who supervise various financial markets. Another regulator for pensionfunds Pension Fund Regulatory and Development Authority is waitingin the wings. These regulators, as in other countries, have an obvious
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