International Regulatory Competition and Coordination

International Regulatory Competition and Coordination : Perspectives on Economic Regulation in Europe and the United States

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The 1980s and 1990s have witnessed the emergence of globalized markets accompanied by an uneven process of national and international deregulation and re-regulation. The combined activities of transnational corporations in manufacturing industries (moving towards the global factory) and the newly privatized businesses in the energy, telecommunications and transportation sectors have fuelled an unprecedented growth in global markets and international business networks. The unexpected but now well established development of capitalism in eastern Europe and the boom in China's special economic zones have added still further to the opportunities and risks inherent in the rapidly developing global economy. For lawyers, economists, and political scientists one of the most significant aspects of the emergence of global markets is the question of regulation: how to regulate market access, product safety, consumer protection laws, financial services, probity and capital adequacy as well as anti-trust and competition laws and policies. Businesses complain that regulatory requirements frequently hinder the development of new markets.
At the same time greater public awareness and concern, especially over other global issues such as environment protection, have raised the cost implications of regulatory requirements, sometimes astronmically. The essays in this volume attempt to address the success of efforts in the European Community, the US and elsewhere in the world to regulate in such a way as to accomodate both the interests of business and the wider interests of the public. The volume is divided into several sections, the first which deals with the globalization of regulatory processes. Other sections examine regulatory competition in the field of company law, self-regulation and competition in US corporate law; regulatory regimes in the European Union and the issue of regulatory coordination affecting economic and social insterests. This is an original and wide-ranging collection of essays which will attract a broad readership both in the US and Europe.
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Product details

  • Hardback | 564 pages
  • 228.6 x 228.6 x 152.4mm | 997.91g
  • Clarendon Press
  • Oxford, United Kingdom
  • English
  • New
  • line figures, tables
  • 0198260350
  • 9780198260356

Back cover copy

This collection of essays by an international group of lawyers and social scientists makes what amounts to a substantive assertion: globalization is not a leap into an economic cyberspace that renders obsolete existing frameworks for understanding the influence of markets on regulation and regulation on markets. Factors that render intelligible the regulatory implications of global product competition can be identified in local, state, national, and international institutions and regulations, and in the mediative activities of the lawyers and other intermediaries. This volume reviews regulatory competition theory, tracing the theory's deployment along parallel lines both within Europe and the USA.
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