"Privatization and deregulation have created the conditions for the rise of the regulatory state to replace the dirigiste state of the past. Reliance on regulation ? rather than public ownership, planning or centralised administration — characterises the methods of the regulatory state. This study examines the growth of regulation in Europe, at the national and Community levels. It stresses the advantages of this mode of policy making, but also recognises its problems. It is suggested that political accountability can be ensured by a variety of substantive and procedural controls, among which judicial review is especially important. Executive oversight and co?ordination may be improved by using new tools of public management like the regulatory budget or the regulatory clearing house."

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