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Regulatory stewardship: New Zealand's approach to better regulation

Governance
Regulation
Policy Change
Policy Implementation
Denny Zdenek Kudrna
Victoria University of Wellington
Denny Zdenek Kudrna
Victoria University of Wellington

Abstract

Regulatory stewardship aims to ensure that different parts of a regulatory system work together to achieve its goals and regulators can anticipate and respond to changes to keep the system fit for purpose over the long term. While stewardship started as an aspirational approach, over the last decade it evolved and consolidated into a process that delivers observable improvements. Regulatory stewardship enabled ministries to harness their technical expertise and political insights to regularly update their regulatory systems and legislation. This paper presents a novel dataset to document that regulatory stewardship is increasingly integrated into agency practices and outlasted earlier regulatory initiatives. Moreover, Regulatory Systems Amendment Bills (RSABs) have doubled the rate of legislative adaptation while gradually expanding in scope and significance. These tools offer a scalable and fast model for adapting regulation at a gradual and steady pace.