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64 BIBLIOGRAPHY ................................................................................................................................. 66 Bremen, November 2010 BETTER ECONOMIC REGULATION: THE ROLE OF THE REGULATOR – ¤ OECD/ITF 2011 EFFECTIVE REGULATORY INSTITUTIONS FOR AIR TRANSPORT: A EUROPEAN PERSPECTIVE – 39 “Member States shall guarantee the independence of the independent supervisory authority by ensuring that it is legally distinct from and functionally independent of any airport managing body and air carrier.

Experience will often reveal that regulatory arrangements need improvement and the regulatory framework should provide for this through periodic review and, when necessary, supplementary primary legislation. g. carbon reduction targets), but rather it should help to ensure that these broader policy goals can be delivered more cost-effectively. There also needs to be confidence that independent regulation can respond to external shocks and not act as a hindrance to government responses to these.

Environmental and safety regulations are not covered in this analysis, although they also carry risks, for example, excessive fees for safety services and longer travelling times. The focus of the paper is entirely on the regulatory framework and not on its content. It therefore does not discuss specific methods of regulation. BETTER ECONOMIC REGULATION: THE ROLE OF THE REGULATOR – ¤ OECD/ITF 2011 EFFECTIVE REGULATORY INSTITUTIONS FOR AIR TRANSPORT: A EUROPEAN PERSPECTIVE – 41 The paper addresses the two questions posed in reverse order.

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