REGULATIONS

AND
PUBLIC POLICY

Submitted by: Joanna Lacanaria & Xena Alexa Palileo

Submitted to: Mrs. Concepcion Andaya

DEFINITION
Regulatory policy is about achieving the government's objectives through the use of
regulations, laws, and other instruments to deliver better economic and social outcomes and
thus enhance the lives of citizens and businesses.
Public policy can be generally defined as a system of laws, regulatory measures, courses of
action, and funding priorities concerning a given topic promulgated by a governmental entity or
its representatives.

CONTEXT

The Philippines' regulatory landscape is a contentious issue, with debates surrounding its
impact on market behavior, competition, and efficiency. It is a contentious issue due to the
increased competition and complex market arrangements. Historically, regulatory changes have
focused on simplifying business processes, such as the 2007 Anti-Red Tape Act, which aimed to
enforce processing times and reduce corruption but did not address broader issues like
regulatory necessity and cost-effectiveness.
Examples of Regulatory Policy:
Some examples of regulatory policies include removing lead from gasoline, minimum wages for
workers, and having airbags in all cars.

Summary Assessment
The Philippines should streamline regulatory requirements, examine public interest rules,
and establish the Philippines Standard Cost Model to benefit the public through effective public
policy. The government should streamline regulatory requirements before introducing one-stop
shops, examining rules for public interest, fulfilling objectives, and finding alternative measures.
This process will help create the Philippines Standard Cost Model, a baseline for future
deregulatory initiatives. Public policy, a set of rules, norms, and acts, is crucial for determining
laws, funding allocation, and addressing public interest issues. It is designed to provide a
solution to problems.

Problem
Why are Regulations and Public Policy Important?
Regulatory policies are important in achieving government objectives. As a result of
government policies, the economy is able to perform well in a sustainable environment that is
beneficial to most, if not all, players. Regulations are required for economies and societies to
function properly. They support markets, defend citizens' rights and safety, and ensure the
supply of public goods and services. Public policy is an important component of governing and
politics since it shapes the standards and values of a society. Because public policy is developed
collaboratively by governments, institutions, and even ordinary citizens, it is a vital and effective
means to have your opinion heard. Because politicians and parties change every few years, so
do the majority's or those in office's positions and ideas.