Regulatory harmonization enhances crossborder cooperation from "summary" of The Economics of Regulation: Principles and Institutions: Economic principles by Alfred Edward Kahn
Regulatory harmonization plays a crucial role in fostering cooperation across borders. When regulations are aligned and standardized among different countries or regions, it becomes easier for businesses and individuals to engage in cross-border activities. This alignment reduces the barriers and uncertainties that often accompany varying regulations, thereby promoting a more seamless flow of goods, services, and investments. By harmonizing regulations, countries can create a more conducive environment for trade and economic exchange. When businesses face consistent rules and requirements across borders, they are better able to navigate the regulatory landscape and expand their operations internationally. This predictability and transparency can encourage firms to explore new markets and opportunities, ultimately leading to increased cross-b...
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