Money, Banks and Finance in Economic Thought

THE DISSEMINATION OF BETTER REGULATION STRATEGY IN SPAIN. A DEBATE BETWEEN THE ACADEMIC AND THE POLITICAL FIELDS

García Hidalgo Jose Luis , University of Seville
Palma Martos Luis, UNIVERSIDAD DE SEVILLA
Riscos Gómez José Félix, Agencia de Defensa de la Competencia de Andalucía

Both economic theory and empirical evidence show that the quality of institutions is a determining factor in the productivity and economic growth of societies. In the case of economic regulation, this relationship is even more profound. Therefore, from the multilateral organizations, and the most advanced economies as the EU, it has been insisting in recent years to put a greater emphasis on better regulation. The main objective of this work is to analyze the dissemination of better regulation paradigm, developed at the EU level, in Spain. We will try to structure the community better regulation agenda. We will focus our attention on the modernization package published by the European Commission in May 2015 and its 2017 update. Subsequently, we will see the way and the intensity in which the improvement of regulation is being disseminated in Spain. For this, we will use a methodology of the national histories of economic thought. Specifically, we have used a model on the essential aspects to be analyzed to study the diffusion of economic ideas, by the Portuguese economist José Luis Cardoso, established in his book Pensar a Economia em Portugal: Digressões Históricas (1997). This technique consists in analyzing the dissemination of economic ideas dividing the process in different fields in order to do an individual subsequent assessment. The fields or items under consideration are: 1) capacity for understanding and dialogue on better regulation principles in Spain; 2) introduction and dissemination of better regulation strategy in the Spanish institutional sphere; 3) academic dissemination of better regulation principles in Spain; and 4) possible added value that can be generated in Spain. In this way, the article is structured in three different parts. The first one includes a discussion on the concept of regulation and how it has evolved to build the current paradigm of better regulation. The second section deals with the EU strategy on the subject, placing special emphasis on the new momentum that it has experienced in recent years. Finally, the third section is devoted to the analysis of the dissemination of better regulation in Spain through the Cardoso model.

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Keywords: Dissemination of ideas; Better regulation; Cardoso Model

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