Western views on regulatory reform have had a growing influence on governments in developing countries. Indeed donor organisations such as the World Bank and the International Monetary Fund have pressed such countries to adopt Western models on the assumption that this will benefit their economies. But it is now recognised that direct policy transfers often fail to produce the expected results. We argue that the impact of policy change is strongly affected by the political, legal and social context. Just because a policy works well in one country does not mean it will do so in another. Rather than simply apply a standard model, policy makers need to analyse their own situation and tailor policy to fit.
Manchester, UK, CRC Policy Brief, No. 6, 4 pp., also available in Chinese