Regulatory impact assessments (RIAs) are systematic evaluations conducted to analyze the potential effects of proposed regulations on the economy, society, and the environment. These assessments aim to provide evidence-based insights that help policymakers understand the benefits, costs, and overall impact of regulations before they are implemented. By identifying market failures and considering alternative solutions, RIAs play a crucial role in ensuring that regulations are effective and efficient in addressing issues such as externalities and information asymmetries.
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