A regulatory budget and a strategic regulatory agenda

Approaches to the development of new regulations have been improved in recent years, but they remain weak on addressing three central problems of regulatory governance. First, the overall coordination and integration of the various regulations remains very difficult because there is no strategic cross-governmental regulatory agenda. Second, the full cost of regulations - the aggregated public administrative costs coupled with the much larger .hidden. costs to companies, civil society organizations, and citizens - is not yet transparent to governments and stakeholders. Finally, no mechanism exists to constrain the costs of regulations in an integrated, systematic, and transparent fashion so as to help maximize the benefits of regulation.