Self-regulation: a risky option for developing countries? The case of Bangladesh

\n\t\t\t\t\tIn recent years, the command and control type of government regulation is giving way to self- regulatory approaches in which industry sectors are responsible for controlling the conduct of their own members. Although self-regulatory approaches are increasingly being adopted with the objective of both improving the rate of compliance and reducing costs in developed countries, this paper argues that this might be a risky option. Developing countries often do not have adequate levels of standards of efficiency, effective legal regulatory frameworks, institutional safeguards and public awareness. Using the Bangladesh agriculture sector as an exemplar, this paper investigates the prospects of self-regulation of small businesses trading in agricultural inputs as a possible remedy for the recent problems associated with the sale…