Does the Background of the Regulator Matter? The Role of Expertise and Diversity on the Perceived Competence of Regulatory Bodies

This paper examines expertise and professional diversity within new (agencies and central banks) and traditional (ministries) regulatory bodies (RBs) and assesses their effect on the perceived competence of RBs. In particular, we address the following research questions: To what extent do members of RBs have expertise and display diversity in terms of their professional trajectories? How do expertise and professional diversity affect the perceived competence of RBs? By using two empirical sources of data, this article provides core information on the educational and professional profiles of RBs staff. In addition, the paper provides evidence that both professional diversity and expertise among RBs do not have a significant effect on their perceived competence by regime actors. However, the study also suggests that regime actors that are more closely aligned to the professional trajectory of RB members (i.e., other regulators and members of the executive branch) tend to have a more positive perception of the competence of RBs. Conversely, societal actors tend to be more critical toward RBs, suggesting that a lack of a shared language creates a greater distance from the regulators.