Research On Administrative Regulatory Power

A common characteristic of modern market economy system is that the market economy is under government regulation, and competitive markets and government administrative regulation is both essential. Market economy requires the involvement of administrative regulatory power to rectify the market failure and maintain the public interest. Although the expansion of administrative regulatory power has met the real needs of society to some extent, itself also has the possibility of alienation and failure, and the power is greater, more likely to go its own way, and free to intervene in the economic behavior of market players. It is outstanding in economical transition country like China particularly. Therefore, to regulate the running of administrative regulatory power by the law becomes a legal topic.The administrative regulatory power is that government authority is involved in and intervenes in the market economy for supervision, adjustment and intervention of natural monopoly, information asymmetries, externalities, public goods insufficiency and so on. The different regulatory pattern's choice of different countries reflects that the choice of regulatory pattern must be consistent with its national conditions and practice, and the pattern of limited government regulation on the basis of free market become the common choice of trend. The administrative regulatory power must be authorized by law; regulatory agencies must maintain the independence; regulatory agencies are usually authorized quasi-legislative, executive and quasi-judicial power; the movement of the administrative regulatory power is controlled by law.In theory, complete competition is the perfect state of market economy; however, such perfectly competitive market condition does not exist in the reality economic life. It is very difficult to rely on individual behavior to overcome the loss of public interest that the market failure caused, or the transaction cost is excessively high. Administrative regulatory power gets involved in the market place in order to prevent inefficient resource allocation and ensure market competition, and it provides the justification for administrative regulatory power to rectify the market failure and maintain the public interest. Public interest theory, public enforcement theory and incompleteness of law theory have proven the legitimacy and necessity of administrative regulatory power. On the contrary, the private interest theory advocates that regulatory power's legislator and the lawman don't pursue the maximizations of public interest, but serve for the private interest. Public choice theory, interest group theory and regulatory capture theory propose that regulators tend to pursue self-interest maximization, and the combination of special interest groups influence on the regulation and self-interested motives may ultimately lead to the government to be captured. Therefore, the administrative regulatory power must be constrained and limited.China's top-down regulatory reform subjectively is full of resistance, and many executive branch of government becomes the barrier to reform; objectively the effect of the regulatory power and the regulatory system in China is not ideal. The deep level reason is that under the surface of market economy, Chinese regulatory power and the regulatory system implement the planned economic management system, and administrative regulatory power and market participants'right are upside down. In addition, the lags of democracy and the rule of law cause the lack restricting for regulatory power, and regulatory power and regulatory system in formally also have many flaws.Modern administrative law theory emphasizes the combination of confirmation and regulation on the basis of controlling regulatory power. The configuration of power and restriction of power constitute the subject of administrative law. The rational configuration of administrative regulatory power includes: Separating government administration from enterprise management- - relation of government and market; the separation of power- -relation of within the government. Restriction of administrative regulatory powers includes public information, administrative procedure, evaluation system, administrative impeachment, incentive regulation.