The Politics Of Global Regulation

"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 ... This is the first book to examine systematically how and why such hijacking or 'regulatory capture' happens, and how it can be averted."--P. [iv] of cover.

'Political science has leap-frogged law, economics, and sociology to become the dominant discipline contributing to regulatory studies. David Levi-Faur's volume taps the rich veins of regulatory scholarship that have made this the case. It brings together the talented new network of politics scholars intrigued by the importance of the changing nature of state and non-state regulation. Their fresh insights complement important new work by established stars of the field. Definitely a book to have on your shelf when in search of exciting theoretical approaches to politics.' – John Braithwaite, Australian National University '"Regulation", in its manifold forms, is the central process of contemporary governance, as it seeks to blend the dynamism of market economies with responsiveness to political and normative demands for health, safety, environmental protection, and fairness. Understanding regulation's varieties, vulnerabilities, and virtues has become a significant focus of academic research and theory. This volume provides an extraordinary survey of research in that field – a survey remarkable in its comprehensiveness, outstanding in the quality of the contributions by leading regulatory scholars from different nations and academic disciplines.' – Robert A. Kagan, University of California, Berkeley, US 'An authoritative collection by a range of contributors with outstanding reputations in the field.' – Michael Moran, WJM Mackenzie Professor of Government 'This is an extraordinarily useful one-stop-shop for a wide range of traditions and approaches to the political aspects of regulation. David Levi-Faur has assembled a fine collection that by reporting on the state of the art also shows the way ahead for a discipline that has to capture and explain dramatic changes in real-world regulatory philosophies and policies.' – Claudio Radaelli, University of Exeter, UK 'This is an unusually impressive edited volume. Its contributors include the leading academic experts on government regulation from around the world. Its several clearly-written and informative essays address the most important topics, issues, and debates that have engaged students of regulatory politics. I strongly recommend this volume to anyone interested in understanding the breadth and depth of contemporary scholarship on the political dimensions of regulation.' – David Vogel, University of California, Berkeley, US This unique Handbook offers the most up-to-date and comprehensive, state-of-the-art reviews of the politics of regulation. It presents and discusses the core theories and concepts of regulation in response to the rise of the regulatory state and regulatory capitalism, and in the context of the 'golden age of regulation'. Its ten sections include forty-nine chapters covering issues as diverse and varied as: theories of regulation; historical perspectives on regulation; regulation of old and new media; risk regulation, enforcement and compliance; better regulation; civil regulation; European regulatory governance; and global regulation. As a whole, it provides an essential point of reference for all those working on the political, social, and economic aspects of regulation. This comprehensive resource will be of immense value to scholars and policymakers in numerous fields and disciplines including political science, public policy and administration, international relations, regulation, international law, business and politics, European studies, regional studies, and development studies.

Has globalization diluted the power of national governments to regulate their own economies? Are international governmental and nongovernmental organizations weakening the hold of nation-states on global regulatory agendas? Many observers think so. But in All Politics Is Global, Daniel Drezner argues that this view is wrong. Despite globalization, states--especially the great powers--still dominate international regulatory regimes, and the regulatory goals of states are driven by their domestic interests. As Drezner shows, state size still matters. The great powers--the United States and the European Union--remain the key players in writing global regulations, and their power is due to the size of their internal economic markets. If they agree, there will be effective global governance. If they don't agree, governance will be fragmented or ineffective. And, paradoxically, the most powerful sources of great-power preferences are the least globalized elements of their economies. Testing this revisionist model of global regulatory governance on an unusually wide variety of cases, including the Internet, finance, genetically modified organisms, and intellectual property rights, Drezner shows why there is such disparity in the strength of international regulations.

From the vantage point of the key powers in global finance including the United States, the European Union, Japan, and China, this highly accessible book brings together leading scholars to examine current changes in international financial regulation. They assess whether the flurry of ambitious initiatives to improve and strengthen international financial regulation signals an important turning point in the regulation of global finance. The text: Examines the kinds of international reforms have been implemented to date and patterns of international regulatory change. Provides an analysis of change across a number of financial sectors, including the regulation of hedge funds, derivatives, credit rating agencies, accounting, and banks. Offers an explanation of contemporary regulatory developments with reference to inter-state power dynamics, domestic politics, transgovernmental networks, and/or transnational non-state forces. Providing the first systematic analysis of the international regulatory response to the current global financial crisis, this ground-breaking volume is vital reading for students and scholars of international political economy, international relations, global governance, finance and economics.

These changes, together with the general advance in the study of regulation, undoubtedly demand a re-evaluation of the theory of regulation, its methodologies and scope of application. This book is a perceptive investigation of recent evolutions in the manner and extent of governance through regulation. Scholars and students of comparative politics, public policy, regulation theory, institutional economics and political sociology will find it to be essential reading. It will also prove a valuable source of reference for those working or dealing with regulatory authorities and for business managers in private industries and services operating under a regulatory framework.

This ambitious volume explores the politics of recent changes in corporate governance regulation and the transnational forces driving the process. Corporate governance has in the 1990s become a catchphrase of the global business community. The Enron collapse and other recent corporate scandals, as well as growing worries in Europe about the rise of Anglo-Saxon finance, have made issues of corporate governance the subject of political controversies and of public debate. The contributors argue that the regulation of corporate governance is an inherently political affair. Given the context of the deepening globalization of the corporate world, it is also increasingly a transnational phenomenon. In terms of the content of regulation the book shows an increasing reliance on the application of market mechanisms and a tendency for corporations themselves to become commodities. The emerging new mode of regulation is characterized by increasing informalization and by forms of private regulation. These changes in content and mode are driven by transnational actors, first of all the owners of internationally mobile financial capital and their functionaries such as coordination service firms, as well as by key public international agencies such as the European Commission. The Transnational Politics of Corporate Governance Regulation will be of interest to students and researchers of international political economy, politics, economics and corporate governance.

ÔThis book is a novel, sophisticated, broad ranging and insightful study of the idea of global environmental governance but from a legal dimension and perspective. While recognising that concepts and ideas used to describe governance are generally abstract, vague and slippery, this project brings clarity to the field by being theoretically informed, contextually sensitive and pragmatically circumscribed. Its conclusions and arguments open up a field of inquiry that has to be genuinely interdisciplinary and in that sense has great potential to contribute to a better understanding of environmental themes and issues. This book is destined to become a landmark for legal academics who will write about environmental governance in that its concern is with the global governance of nature rather than a text that uses the environment as a pretext for understanding governance. It is well written, easy and enjoyable to read and while it traverses through diverse bodies of literature it manages to effectively communicate with a variety of scholarly communities.Õ Ð Afshin Akhtarkhavari, Griffith Law School, Australia ÔFourth generation global environmental regulation attempts to address the complex realities of an interconnected environment, global environmental problems and collective regulatory responses. It merits conceptual clarity. Louis KotzŽ reveals the legal contours and content of global environmental governance by chipping away such parts of the conceptual marble block as are not needed. For the environmental lawyer, it is a welcome Ð and much needed Ð process of elimination. This book provides a toolkit for lawyers to engage critically with the extra-legal concept of environmental governance. Its scrutiny and careful analysis contribute meaningfully to the environmental discourse.Õ Ð Christine Voigt, University of Oslo, Norway ÔGlobal Environmental Governance is a truly important book. Drawing on a multitude of disciplines, award-winning environmental law Professor Louis KotzŽ masterfully explains the emerging concept of Òglobal environmental governanceÓ and its elements of globalism, environmental law, regulation, and governance theory. He makes a compelling case that the world has outgrown the ÒsustainabilityÓ model and moved toward this more all-encompassing approach to environmental regulation. This admirable book makes global environmental governance theory understandable and pertinent so environmental leaders, lawyers, and regulators can engage comfortably with this new vision for an ecologically and economically healthy world.Õ Ð George (Rock) Pring, University of Denver Sturm College of Law, US ÔThis book, in examining the relationship between global environmental governance and environmental law, provides an important and timely contribution to the quest to fashion a more viable approach to regulating the relationship between humanity and the environment. While the term ÒgovernanceÓ is much employed in international environmental law scholarship, its conceptual underpinnings have not, on the whole, been adequately addressed in the legal sphere and understanding of the symbiotic relationship between the two areas has suffered as a result. This book makes a welcome start to tackling these issues and, it is to be hoped, will trigger renewed vigour in this socially and legally vital area of inquiry.Õ Ð Karen Morrow, University of Swansea, Wales, UK ÔFor years, scholars of international law and international relations have developed parallel literatures. In Global Environmental Governance, Louis KotzŽ offers a common conceptual, theoretical, and normative ground in the global environmental field. As a skillful lawyer, he dissects terminology, explains core assumptions, and constructs causal chains. But he does not stop there. His shrewd analysis of power and authority, individual incentives and collective action, management and regulation builds a bridge between law and politics as disciplines concerned about what global environmental governance is and how it can be improved.Õ Ð Maria Ivanova, University of Massachusetts, US ÔIn search of shelter from the buffeting blasts of climate change, biodiversity loss, resource depletion, famine and disease, states and public agencies, community representatives, resource users, advocacy networks and citizens huddle together under the vast and varied institutional umbrellas of environmental governance. Louis KotzŽÕs innovative study systematically describes the role of environmental law as the springs, stretchers, ribs and handles of the decision-making umbrellas we so desperately hope will hold firm when they are opened up in times of need.Õ Ð Jamie Benidickson, University of Ottawa, Canada ÔThe concept of Òglobal environmental governanceÓ has been part of the lexicon in accounts of global environmental politics for some time. Yet to date it has escaped comprehensive assessment from a legal perspective. This groundbreaking work fills this gap in the literature. It offers a masterful analysis of the theoretical underpinnings of the environmental governance, and highlights the critical importance of environmental regulation in ensuring that environmental governance lives up to its promise as a means for achieving truly ecologically sustainable development.Õ Ð Tim Stephens, University of Sydney, Australia This timely book brings much-needed clarity to the concept of Ôenvironmental governanceÕ as manifested in the global regulatory domain. The author argues that despite being used as a fashionable term by many Ð including economists, political scientists, environmentalists and, increasingly, lawyers Ð its theoretical contours and conceptual content remain unclear, incoherent, and inconsistent. In addressing this problem, the book begins by describing globalization as a general context of governance. It comprehensively interrogates and clarifies both the governance and global governance concepts, and then explains aspects and components of global environmental governance. Finally it investigates the role of law in global environmental governance. Providing a much-needed definition of environmental governance and global environmental governance, this comprehensive study will appeal to academics and researchers, post-graduate and under-graduate students, intergovernmental organizations such as UNEP, WTO, IUCN, as well as governments and governmental agencies involved with environmental regulation.