“…Regulatory Impact Analysis (RIA) is the systematic identification and evaluation of the expected results of regulatory proposals, and the process of identifying, analyzing problems, defining the public intervention objectives, analyzing costs, benefits, and possible implementation options (Kupiec, 2015). RIA is used as a crucial instrument for improving the efficiency, effectiveness, transparency, and accountability of regulatory decision-making throughout Organisation for Economic Co-operation and Development (OECD) countries, and less frequently in developing countries (Jakupec & Kelly, 2016;Adelle et al, 2015).…”