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Formal and Informal Regulation of Industrial Pollution : Comparative Evidence from Indonesia and the United States

By Pargal, Sheoli

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Book Id: WPLBN0000037892
Format Type: PDF eBook
File Size: 0.2 MB
Reproduction Date: 2005
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Title: Formal and Informal Regulation of Industrial Pollution : Comparative Evidence from Indonesia and the United States  
Author: Pargal, Sheoli
Volume:
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
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Publisher: The World Bank

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Pargal, S. (n.d.). Formal and Informal Regulation of Industrial Pollution : Comparative Evidence from Indonesia and the United States. Retrieved from http://hawaiilibrary.net/


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Economics

Excerpt
Informal regulation need not be limited to cases where formal regulation is absent. If formal regulatory standards and institutions exist, the most effective informal regulatory tactic may be to report violations of legal standards. This is easier if information on standards is widespread, monitoring is relatively costless, and violators are easy to identify. A second ?formal? channel for informal regulation is to pressure regulators to tighten their monitoring and enforcement. Profit-maximizing firms reduce pollution to the point where the marginal cost of abatement equals the expected marginal penalty for noncompliance. Because regulators have limited resources, polluters know that many regulatory violations will go undetected or be lightly penalized. For recent evidence from North America, see Deily and Gray (1991); Dion, Lanoie, and Laplante (1996); Magat and Viscusi (1990); and Russell (1990). Similar evidence for Asia can be found in Dasgupta, Huq, and Wheeler (1997); Hartman, Huq, and Wheeler (1997); O?Connor (1994); and Wang and Wheeler (1996). In this context, public pressure on regulators can be an important countervailing force.

 

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