Design and Implementation of a Regulatory Impact Analysis System that Contributes to State's Socio-Economic Development

Goran Sumkoski, Ainura Kocherbaeva

Abstract: This article presents a detailed study of the practice of regulatory governance and attempts to contribute to improving the effectiveness of regulation that promotes an enabling environment for economic development. The analysis shapes and improves the modern concepts of "Better Regulation" and "Smart Regulation", which provide tools for informed decision-making, transparent lawmaking and regulatory quality control, based on the socio-economic theory and practice of regulation. These improvements are necessary since the successful implementation of these approaches requires overcoming resistance to change, ensuring adequate training of staff, conducting effective public consultations, and monitoring and evaluating the results of regulatory reforms. The overall conclusion is that further development and improvement of the practice of regulatory governance requires an integrated approach. To this end, this article has provided a detailed overview of the design and implementation of regulatory impact analysis-RIA, and its light version, adapted to the requirements of developing countries, with all the associated risks and solutions identified throughout the process.

Keywords: Regulation, Regulatory Management System, Regulatory Impact Analysis, Capacity Building, Transparency, Accountability