Good Governance and Role of Regulatory Bodies

The paper deals with status and role of regulatory bodies and consequences of their independence and accountability to public and parliement. Authors analyse different legal status of regulatory bodies in South-eastern Europe and Serbia and conclude that it is neccessary to include in national constitutions as highest ligela act of each state specific article which will stipulate following: (1) basic goals of regulatory bodies such as "promoting and directing market development of regulated industry on the principles of non-discrimination and effective competition, monitoring the implementation of regulations in regulated industry, ensuring the regular supply of goods and services to consumers and their protection and equal position, as well as other activities stipulated by specific industry laws": (2) basic principles of regulatory bodies activities such as (a) independence - personal, financial and policy and (b) accountability to parliament. In such way differences in legal status of regulatory bodies and inadequate level of their autonomy and independence would be avoided.