A regulated market or controlled market, is the provision of goods or services that is regulated by a government appointed body. The regulation may cover the terms and conditions of supplying the goods and services and in particular the price allowed to be charged. It is common for a regulated market to control natural monopolies such as aspects of telecommunications, water, gas and electricity supply. Often regulated markets are established during the privatisation of government controlled utility assets.
A variety of forms of regulations exist in a regulated market. These include controls, oversights, anti-discrimination, environmental protection, taxation and labor laws.
In a regulated market, the government regulatory agency may legislate regulations that privilege special interests, known as regulatory capture.
See also
- Regulatory capitalism
- Mixed economy
- Better Regulation Commission
- Bureaucracy
- Code of Federal Regulations
- Deregulation
- European Union directive
- European Union regulation
- Market failure
- Red tape
- Regulation
- Regulatory capture
- Regulatory economics
- Regulatory taking
References
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