REGULATION AND ECONOMIC DEVELOPMENT: A CRITICAL AND INTERDISCIPLINARY ANALYSIS IN LAW AND ECONOMY

This article takes advantage of the proficient interdisciplinary debate on regulation to be able to analyze, comparatively, as Law and Economy, the two areas of knowledge with the greatest impact in this study, stand on a specific issue: the peculiarities of regulation in development contexts, particularly in transition economies such as Brazil. It is well known that Law and Economics scholars together have developed sophisticated interdisciplinary tools in the last decades, applicable to research objectives that would be incomplete if imprisoned in isolated disciplines, and this makes relevant the understanding of how this problem is - or can be - interpreted through these two different views. The paper departs from examining the main theoretical treatments traditionally employed in regulation, the character and scope of the regulatory reforms of the late twentieth century and the description of the three main "interpretive lenses" in Law and Economics with the objective of theorizing about the conciliation between them. As a conclusion, it is understood that the construction of an interpretive vein that offers an analytical framework that contributes to regulation inescapable goals of economic efficiency and institutional stability as well as the necessary flexibility that development processes require is well underway.