How does regulatory framework impact sectoral performance? A systematic literature review

Abstract

PurposeThe regulatory framework may be construed as the existence of supporting infrastructure that assists in control, direction/implementation of a proposed course of law, rule or action. The regulatory order is now more formalized, expert-driven, transparent, independent and pervasive across countries and sectors. As a result, regulatory reforms enable markets to function efficiently by providing a supportive environment for increased investment, private sector growth and market-led economic growth. This study aims to review previous literature for understanding the impact of sectoral regulatory framework on sectoral performance.Design/methodology/approachThis paper has adopted a systematic literature review to understand dynamics between the sectoral regulatory framework and sectoral performance. While seven multidisciplinary databases were used to identify 51 research articles, the bibliometric research profiling was executed to broaden academic research.FindingsThe results are organized into three broad categories: research context, research area and research methods. The identified articles exhibited association with 12 distinct sectors/industries, with maximum articles belonging to telecom, energy and finance industries. The study has focused on evolution of regulatory studies, impact of regulatory framework on sectoral performance and commonality in regulatory studies. Among the 15 distinct research contexts identified in this systematic literature review (SLR), the highest mapping was registered (from 23 articles) by the research context “impact of regulatory framework on the sector–institutions, infrastructure and performance indicators.”Practical implicationsPublic administration researchers are increasingly using mixed methods research approaches to add diverse and novel perspectives on wicked problems. The qualitative approach (grounded theory, action research, phenomenology and participant observations) is appropriate for understanding the native viewpoints of regulatory practitioners and reducing the gap between rigor and relevance.Originality/valueThe study addresses lack of systematic review of articles covering the impact of regulatory framework on sectoral performance encompassing all sectors by, inter alia, collating important bibliometric profiles of the identified articles.