- Instruments of control inseparable from the imposition of controls.
- Many actions may violate basic rule-of-law principles.
- Used as a tool of protectionism in many sectors, rather than macroecomic stability and national security.
- Complicated tools, complicated regulatory architectures, low state capacity –
- create incentives for arbitrage
- create inefficiencies in state capacity
- there is no respect, or fear.
- We need to study these in detail.
EMs more than developed countries, require simple mechanisms and clarity of objectives.