Government Failure

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Government Failure

A situation in which government intervention leads to the inefficient allocation of resources. This is not the same as a government intervention leading to an unpopular result. A government failure may prove popular, for example, if it subsidizes local jobs at the expense of more efficient companies elsewhere. Examples of government failure include crowding out and pork-barrel spending.
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In the past few years farmers have lost their entire crop as a result of maize lethal necrosis, a seed-borne disease that may have entered the country due to regulatory failure.
Scholars have written tomes about the causes and consequences of regulatory failure, but few have taken a novel and rigorous quantitative approach to explain how organizational design and political pressure can make or break regulatory performance.
She mentioned that through the MGR Programs continuous capacity building activities on RIA for regulation authorities, the use of evidence in policy making is promoted and the incidence of regulatory failure may be reduced.
Thus, if mining companies violate the law, is it not also a case of regulatory failure, where for lack of vigilance, manpower and/or political will, spillage, siltation, and pollution happens?
The over-commercialisation of the Everest industry, a free-for-all caused by regulatory failure and bungling in Kathmandu, and the race to the top of the Third Pole has led to dangerous overcrowding on the mountains," the newspaper commented in an editorial.
Over the past decades, significant cases of professional misconduct or incompetence have focused the public and the government's attention on regulatory processes, no doubt with the perception of regulatory failure or incompetence.
I also found it hard to wrap my mind around the idea of securing the voluntary compliance of large corporate regulatees in the food, pharmaceutical, financial, transportation and energy industries where the risks for the public and government associated with regulatory failure are so demonstrably high.
This helps demonstrate that the failure to appreciate the nature and significance of privately generated innovation, within the regulatory regimes designed to work with that innovation, was really an important factor in regulatory failure leading up to the financial crisis.
But David Kenneth, Paisley, said: "The SFA have been guilty of regulatory failure and that's why the Celtic shareholders have raised this matter.
ELNY is, quite simply, the most egregious example of insurance regulatory failure I have seen in my career as a journalist.
The lessons of other regulatory failure may point the way for insurance regulators to avoid the same fate.
In the case of Fannie Mae and Freddie Mac, political mission regulation and corruption explains most of the regulatory failure.

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