Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=53345#.VL3NKCzQrzE Author(s) Rui Nunes * , Sofia B. Nunes , Guilhermina Rego Affiliation(s) Department of Social Sciences and Health, Faculty of Medicine, University of Porto, Porto, Portugal . ABSTRACT In a regulatory state the purpose of intervention by any Independent Regulatory Agency (IRA) is not only regulation in the strict sense but also the supervision of the activity of institutions providing a specific service, particularly the utilities. However, given the evolution of most market economies, namely in transition countries, it is necessary to design new governance arrangements that enable an effective, transparent and truly independent intervention of IRAs. The objectives of this study are a) to analyse of the institutional-design chosen for some independent regulatory agencies and its regulatory framework, namely in northern economies, ...
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