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Essay on Regulatory Theory: 2,000 words

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The 1980s and the 1990s, te role of telecommunication in the economic growth of countries and the entire world became rather apparent, lading to the development of a number of regulatory and competition polices, een though to a limited extent, i many countries (Koops et al. Bsides, rgulating competition, te regulatory and competition policies were expected to instill dynamism, inovativeness, agment availability, acessibility and increase ICT choices and lower tariffs for customers. Te first effect of the wave of ICT reforms that peaked in the 1990s was the telecommunication service operators.

Te second effect of the ICT regulatory policies was the introduction of new varieties of services such as mobile telephony and value-added services (Koops et al. Tis paper thus explores the need for the regulation of ICT, wether regulation works in the interests of the public and the implications of convergence and innovation on ICT regulation. Tat the core role of regulation in any industry is to enable sustainability, gowth and development is quite apparent and cannot be overemphasized. Terefore, te information and communication technology sector, other sectors of an economy, rquires a strong legal framework and regulatory mechanisms to function for the betterment of the public.

Anumber of reasons have since been identified to underlie the need for the regulation of information communication and technology. Gnerally, IT the need for ICT regulation arises from the recently observed structural changes in the communication industry. Te transformation of the industry from a monopoly to a competitive one in many a country has particularly necessitated its stronger regulation (Baldwin et al. Terefore, te regulation of the sector been particularly important in the creation of an effective environment for fair competition that supports both short-and long-term development in the ICT industry.

Wth the introduction of competition in the telecommunication sector in most countries, tere was fear that it would become difficult or impossible to regulate the industry. Hwever, i soon became apparent that regulation was equally necessary in the liberalized and competitive ICT market. I fact, wth governments authorising competition and the stakeholders in the telecommunication sector embracing this effective competition, te need for regulation at its The main purpose of a strong regulatory. ..

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