Synthesis.

Government regulations are important tools to carry out economic and social policies, but too often outdated and excessive regulations have blocked competition, innovation, and trade, and increased the cost of doing business. This report, developed at the request of ministers of OECD countries, documents how regulatory reform has compelled firms to become more efficient and innovative, brought sharp price reductions for consumers and user industries, and improved the ability of national economies to stay competitive in global markets. This report contains OECD recommendations to governments for further progress on reform. It recommends a balanced mix of policies involving regulation, deregulation, re-regulation, insitutional reform, and coordinated reforms in other policy areas.