ANÁLISE DE IMPACTO REGULATÓRIO: UMA ABORDAGEM DE ESTUDOS DE EVENTOS

• Autor(a) principal: Ribeiro, Ivan César
• Data de Publicação: 2021
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Economic Analysis of law Review
• Texto Completo: https://portalrevistas.ucb.br/index.php/EALR/article/view/11023
• topic: Legal Analysis; Regulation; Regulatory Impact Analysis; Event Study

There is a growing concern of governments and regulators in assessing the impact of laws, decrees and other regulations. Researchers, government and international organizations have been discussing the use of Regulatory Impact Analysis (RIA) and Cost Benefit Analysis (BCA).This article proposes an approach for impact analysis of regulation, derived from event study methodology with adjustments to circumvent the problem of contemporaneous correlation among observations. Indeed, as regulation affects all companies at the same time, it is particularly challeging to tell apart the effects of regulation from other influences.The approach proposed avoid this and other challenges, such as the establishment of a benchmark for market returns, the different effects of regulation over different regulated companies, the dealing with effects that are not noticeable in event studies and the effects of the use of daily data for those studies.At the end, it is presented a script for the econometric evaluation of financial and sectorial regulation and it is suggested, as an example, some empirical models for the test of financial regulations.