Reflections on the autonomy of the regulatory authority: analysis of the state regulatory agencies

Abstract

This paper reflects on the autonomy of the regulatory authorities on the state level, stressing on the importance of analyzing the regulatory problems from a multidisciplinary perspective. It argues that, for the regulatory authority to work properly, it is necessary to strengthen its autonomy and independence, thus diminishing the risk of its being captured. The paper concentrates on the analysis of the measures adopted to maintain and strengthen the autonomy and independence of the regulatory authority, emphasizing issues such as the agencies' legal form, organizational structure, choice of directors, and financial independence. Nevertheless, the recent cases of two regulatory agencies - Asep, in the state of Rio de Janeiro, and Agergs, in Rio de Grande do Sul - show the difficulties or putting into practice the autonomy of the regulatory agency.