Introduction: Regulation and deregulation

‘Deregulation’ is best conceived as covering two separate sets of processes: changes to the structure of rules embodied in regulatory systems; and disturbances to the stability of those systems due to the inability of system ‘governors’ to function effectively. The most striking feature of deregulation is variety - in incidence, form and extent. This variety is a function of three broad sets of variables: place, notably national setting; time, notably the historical epoch and the stage in a regulatory cycle when deregulation happens; and arena, notably the economic arena and policy networks where deregulation takes place.