The regulatory challenge

the long version

The last decade has witnessed the introduction of an elaborate system of regulation in the UK. Whole segments of British industry are now operating under the supervision of regulatory bodies not dissimilar to the government departments they were designed to replace. Regulation has been an inevitable part of the structural changes in the 1980s, notably the privatization programme and changes in the financial services industries. This book assesses these developments across a number of sectors (utilities, telecommunications, financial services, health and higher education) and offers a range of perspectives for understanding the various objectives, mechanisms and institutions involved. The book offers important insights into the way in which the structure of privatized industries interacts with the form of regulation. It has significant implications for countries that are embarking on the process of privatization, regulation, and deregulation of their industries.