Abstract: This paper interprets the rise of the regulatory state as a response to the deterrence failure resulting from incomplete law. In previous work we developed the incomplete law theory to explain the increasing importance of regulators in the most developed economies. In that work as well as in the current paper we focus on countries that use formal law as a major governance device, or that have made a firm commitment to the
rule of law.
The Challenge of Incomplete Law And How Different Legal Systems Respond to It.pdf
