Originally published over two decades ago, â€˜responsive regulationâ€™ and its associated regulatory pyramid have become touchstones in the contemporary study and practice of regulation. Influential ideas and theories about regulation and governance have been developed in the intervening years, yet responsive regulationâ€™s simple pyramidal model continues to resonate with policy-makers and scholars alike. This article seeks to advance the vision and utility of responsive regulation, by responding to several key drawbacks of the original design and by offering an update to the pyramidal model of regulation that lies at the centre of the theory. It argues for a â€˜regulatory diamondâ€™ as a strengthened, renewed model for responsive regulation. Rooted within the responsive regulation literature, the regulatory diamond integrates into the one schema both â€˜compliance regulationâ€™ and â€˜aspirational regulationâ€™, thereby offering a more cohesive representation of the broad conception of regulation that underpins responsive regulation theory, and the limited but vital role of law within it.
|Journal||Monash University Law Review|
|Publication status||Published - 2015|