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Perceived failures of deregulation (such as the failure of the Savings & Loan sector of the U.S. during the 1980s) have led to limited re-regulation, and more balanced approaches to regulation that emphasize the quality of regulation over the quantity. That is, instead of simply removing (or adding) regulations on business, the point is to regulate business intelligently, using as sophisticated an economic theory as possible. Many processes labelled deregulation where anyway examples of re-regulation alongside a market liberalization process taking state-owned service providers into the private sector. One influential measure of worldwide business regulations that has inspired mostly deregulation but also in some instances increased regulations is the Ease of Doing Business Index.
ArgentinaArgentina underwent heavy economic deregulation[citation needed], privatization, and had a fixed exchange rate during the Menem administration (1989–1999). Critics argue that these policies, implemented under advice of international organizations like the IMF and the WTO, eventually produced massive de-industralization and unemployment, and became unpopular after the politico-economic collapse of 2001. Others argue that high corruption flawed these policies in practice and that continued overspending by the government, while causing a temporary 'economic miracle', inevitable in the end caused a collapse. Australia
European Union
JapanSince the economic bubble in 1990s collapsed, the Japanese government has seen deregulation as an effective way to lift its economy because it has a huge deficit and cannot make a large tax cut. New ZealandNew Zealand has had extensive deregulation since 1984. It was instigated by the Labour Party. See also: Economy of New Zealand RussiaRussia has been going through wide-ranging deregulation (and concomitant privatization) efforts since late 1990s. The main thrust of deregulation has been the electricity sector (see Unified Energy System), with railroads and communal utilities tied in the second place. Deregulation of natural gas sector is one of the more frequent demands placed upon Russia by the United States and European Union. United KingdomThe United Kingdom has developed a programme of better regulation since 1997. This has developed to include a general programme for government departments to review, simplify or abolish their existing regulations, and a "one in, one out" approach to new regulations. In 2006, new primary legislation is proposed (a Legislative and Regulatory Reform Bill) which is intended to establish statutory principles and a code of practice. United StatesDeregulation was a major trend in the United States in the last quarter of the twentieth century. A number of major deregulation initiatives were passed. Some of these were withdrawn quickly (but not quickly enough to avoid major problems), including the deregulation of savings and loans. American savings banks, which were permitted to lend unfettered, had their depositors funds insured by the federal government, creating a moral hazard. The California electricity crisis was precipitated by price manipulations by companies such as Enron after energy industry deregulation in 1996. Other legislation has been considered more widely successful, including deregulation of transport, telecommunications, and the gas market. In 1996, the media market was significantly deregulated. Related Legislation
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