The Politics of Global Regulation
Publication Year: 2009
Regulation by public and private organizations can be hijacked by special interests or small groups of powerful firms, and nowhere is this easier than at the global level. In whose interest is the global economy being regulated? Under what conditions can global regulation be made to serve broader interests? This is the first book to examine systematically how and why such hijacking or "regulatory capture" happens, and how it can be averted.
Walter Mattli and Ngaire Woods bring together leading experts to present an analytical framework to explain regulatory outcomes at the global level and offer a series of case studies that illustrate the challenges of a global economy in which many institutions are less transparent and are held much less accountable by the media and public officials than are domestic institutions. They explain when and how global regulation falls prey to regulatory capture, yet also shed light on the positive regulatory changes that have occurred in areas including human rights, shipping safety, and global finance. This book is a wake-up call to proponents of network governance, self-regulation, and the view that technocrats should be left to regulate with as little oversight as possible.
In addition to the editors, the contributors are Kenneth W. Abbott, Samuel Barrows, Judith L. Goldstein, Eric Helleiner, Miles Kahler, David A. Lake, Kathryn Sikkink, Duncan Snidal, Richard H. Steinberg, and David Vogel.
Published by: Princeton University Press
Title Page, Copyright
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List of Figures and Tables
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Just as our project on the Politics of Global Regulation was nearing its conclusion, a global financial crisis erupted. It began with the rapid increase of defaults in subprime mortgages in the United States and a few other countries and quickly spread across highly intertwined financial markets, affecting millions of people. ...
Chapter One: In Whose Benefit? Explaining Regulatory Change in Global Politics
Walter Mattli, Ngaire Woods
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Few topics are as central and of consequence to the lives and well-being of individuals as regulation, broadly defined as the organization and control of economic, political, and social activities by means of making, implementing, monitoring, and enforcing of rules. ...
Chapter Two: The Governance Triangle: Regulatory Standards Institutions and the Shadow of the State
Kenneth W. Abbott, Duncan Snidal
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Who should regulate global production? While the state traditionally has been viewed as the appropriate overseer of domestic business activity, the scale and structure of contemporary global production challenge the capacity of even highly developed states to regulate activities that extend beyond their borders. ...
Chapter Three: Filling a Hole in Global Financial Governance? The Politics of Regulating Sovereign Debt Restructuring
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Most countries with market-based economies have developed formal regulatory mechanisms, in the form of bankruptcy laws, to facilitate the orderly restructuring of unsustainable debts owed to private creditors within their territories. It is widely recognized that these mechanisms serve important public good functions at the national level. ...
Chapter Four: From State Responsibility to Individual Criminal Accountability: A New Regulatory Model for Core Human Rights Violations
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Although the term “regulation” is rarely used in the literature on human rights, the core issues in the human rights area involve “making, implementing, monitoring, and enforcing of rules” to organize and control activities, which is the definition of regulation used in this volume. ...
Chapter Five: The Private Regulation of Global Corporate Conduct
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This chapter explores the dynamics of regulatory change associated with new forms of transnational non-state governance designed to make global firms more responsible and accountable.1 It begins by defining “civil regulation,” describing its growth and placing its development, structure, and purposes in a broader historical and institutional context. ...
Chapter Six: Racing to the Top . . . at Last: The Regulation of Safety in Shipping
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The regulations of safety in shipping has increased dramatically over the past forty years. Although the industry has always been hazardous, as late as the 1960s there was little effective regulation. Today, nearly fifty international conventions and agreements exist, widely enforced by numerous regulators. ...
Chapter Seven: Regulatory Shift: The Rise of Judicial Liberalization at the WTO
Judith L. Goldstein, Richard H. Steinberg
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International trade transactions are among the most regulated activities in the world. Indeed, the history of international trade since the seventeenth century cannot be understood without accounting for the changing ways by which public authority has interacted with, and influenced, private transactions.1 ...
Chapter Eight: Economic Integration and Global Governance: Why So Little Supranationalism?
Miles Kahler, David A. Lake
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Economic models of international governance predict that greater levels of global economic integration are likely to produce changes on two institutional dimensions. The site of governance should shift from the national to the regional and global levels as states pool their decision-making powers. ...
List of Contributors
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Page Count: 312
Publication Year: 2009
Edition: Course Book