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The New Global RulersThe Privatization of Regulation in the World Economy$
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Tim Büthe and Walter Mattli

Print publication date: 2011

Print ISBN-13: 9780691144795

Published to University Press Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691144795.001.0001

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date: 13 December 2017

Contributions to the Theoretical Debates in Political Science, Sociology, Law, and Economics

Contributions to the Theoretical Debates in Political Science, Sociology, Law, and Economics

Chapter:
(p.192) Chapter Eight Contributions to the Theoretical Debates in Political Science, Sociology, Law, and Economics
Source:
The New Global Rulers
Author(s):

Tim Büthe

Walter Mattli

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691144795.003.0008

This chapter examines the implications of complementarity for our theoretical understanding of the relationship between power and institutions. It also evaluates the contributions of the book's empirical investigation of private standard-setting in transnational focal rule-making institutions to several current debates among scholars of political science, sociology, law, economics, and business administration about issues such as the changing nature of regulatory politics and nontariff barriers to trade. Institutional complementarity theory implies that we should be more cautious than optimistic when looking to standards as a way to overcome asymmetries. Unless proponents of good standards succeed in shaping the—national yet nongovernmental—positions of their respective countries, international standardization may not yield major improvements for overcoming information asymmetries.

Keywords:   power, rule-making institutions, political science, sociology, law, economics, business administration, nontariff trade barriers, institutional complementarity, international standardization

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