Tim Büthe and Walter Mattli
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691144795
- eISBN:
- 9781400838790
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691144795.003.0001
- Subject:
- Political Science, International Relations and Politics
This book examines the delegation of regulatory authority from governments to a single international private-sector body by focusing on three powerful global private regulators, or focal rule-making ...
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This book examines the delegation of regulatory authority from governments to a single international private-sector body by focusing on three powerful global private regulators, or focal rule-making institutions: the International Accounting Standards Board (IASB), the International Organization for Standardization (ISO), and the International Electrotechnical Commission (IEC). The book shows how the simultaneous privatization and internationalization of governance is driven, in part, by governments' lack of requisite technical expertise, financial resources, or flexibility to deal expeditiously with ever more complex and urgent regulatory tasks. Its main argument is that technical expertise and financial resources are necessary but not sufficient conditions for successful involvement in global private-sector standardization. To make its case, the book explores global private regulation in global financial and product markets.Less
This book examines the delegation of regulatory authority from governments to a single international private-sector body by focusing on three powerful global private regulators, or focal rule-making institutions: the International Accounting Standards Board (IASB), the International Organization for Standardization (ISO), and the International Electrotechnical Commission (IEC). The book shows how the simultaneous privatization and internationalization of governance is driven, in part, by governments' lack of requisite technical expertise, financial resources, or flexibility to deal expeditiously with ever more complex and urgent regulatory tasks. Its main argument is that technical expertise and financial resources are necessary but not sufficient conditions for successful involvement in global private-sector standardization. To make its case, the book explores global private regulation in global financial and product markets.
Tim Büthe and Walter Mattli
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691144795
- eISBN:
- 9781400838790
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691144795.003.0009
- Subject:
- Political Science, International Relations and Politics
This book has explored global private governance by three focal rule-making institutions: the International Accounting Standards Board (IASB), the International Organization for Standardization ...
More
This book has explored global private governance by three focal rule-making institutions: the International Accounting Standards Board (IASB), the International Organization for Standardization (ISO), and the International Electrotechnical Commission (IEC). It has shown that, in rapidly growing areas of global private regulation, where central state institutions are not directly involved, the representation of domestic regulatory preferences is to a large extent mediated by, or channeled through, domestic governance structures that are also private. This concluding chapter considers the implications of these findings for public policy and for normative debates over global governance more generally. It highlights two key issues: institutional reform to improve the fit between domestic and international institutions, and the questions of legitimacy raised by private rule-making.Less
This book has explored global private governance by three focal rule-making institutions: the International Accounting Standards Board (IASB), the International Organization for Standardization (ISO), and the International Electrotechnical Commission (IEC). It has shown that, in rapidly growing areas of global private regulation, where central state institutions are not directly involved, the representation of domestic regulatory preferences is to a large extent mediated by, or channeled through, domestic governance structures that are also private. This concluding chapter considers the implications of these findings for public policy and for normative debates over global governance more generally. It highlights two key issues: institutional reform to improve the fit between domestic and international institutions, and the questions of legitimacy raised by private rule-making.
Tim Büthe and Walter Mattli
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691144795
- eISBN:
- 9781400838790
- Item type:
- book
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691144795.001.0001
- Subject:
- Political Science, International Relations and Politics
Over the past two decades, governments have delegated extensive regulatory authority to international private-sector organizations. This internationalization and privatization of rule-making has been ...
More
Over the past two decades, governments have delegated extensive regulatory authority to international private-sector organizations. This internationalization and privatization of rule-making has been motivated not only by the economic benefits of common rules for global markets, but also by the realization that government regulators often lack the expertise and resources to deal with increasingly complex and urgent regulatory tasks. This book examines who writes the rules in international private organizations, as well as who wins, who loses—and why. It examines three powerful global private regulators: the International Accounting Standards Board, which develops financial reporting rules used by corporations in more than a hundred countries; and the International Organization for Standardization and the International Electrotechnical Commission, which account for 85 percent of all international product standards. The book offers both a new framework for understanding global private regulation and detailed empirical analyses of such regulation based on multi-country, multi-industry business surveys. It finds that global rule-making by technical experts is highly political, and that even though rule making has shifted to the international level, domestic institutions remain crucial. Influence in this form of global private governance is not a function of the economic power of states, but of the ability of domestic standard-setters to provide timely information and speak with a single voice. The book shows how domestic institutions' abilities differ, particularly between the two main standardization players, the United States and Europe.Less
Over the past two decades, governments have delegated extensive regulatory authority to international private-sector organizations. This internationalization and privatization of rule-making has been motivated not only by the economic benefits of common rules for global markets, but also by the realization that government regulators often lack the expertise and resources to deal with increasingly complex and urgent regulatory tasks. This book examines who writes the rules in international private organizations, as well as who wins, who loses—and why. It examines three powerful global private regulators: the International Accounting Standards Board, which develops financial reporting rules used by corporations in more than a hundred countries; and the International Organization for Standardization and the International Electrotechnical Commission, which account for 85 percent of all international product standards. The book offers both a new framework for understanding global private regulation and detailed empirical analyses of such regulation based on multi-country, multi-industry business surveys. It finds that global rule-making by technical experts is highly political, and that even though rule making has shifted to the international level, domestic institutions remain crucial. Influence in this form of global private governance is not a function of the economic power of states, but of the ability of domestic standard-setters to provide timely information and speak with a single voice. The book shows how domestic institutions' abilities differ, particularly between the two main standardization players, the United States and Europe.
Nico Krisch
- Published in print:
- 2014
- Published Online:
- December 2014
- ISBN:
- 9780198716365
- eISBN:
- 9780191784880
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198716365.003.0011
- Subject:
- Political Science, International Relations and Politics
Transboundary problems have long posed serious challenges to states’ governance capacities. As a result, the modern state has become increasingly reliant on effective institutional structures for ...
More
Transboundary problems have long posed serious challenges to states’ governance capacities. As a result, the modern state has become increasingly reliant on effective institutional structures for cooperation and governance on a regional and global scale. However, since international law can only provide governance structures under certain conditions and within strict limits, many governments have turned to alternative forms of transnational ordering and global governance, key among them formal international institutions, informal government networks, extraterritorial regulation, and links with global private regulation. Yet these tools come with drawbacks—some are more effective than others, and the more effective they are, the more they tend to entail a loss of control for national governments, regulators, and administrators. This chapter analyses the different forms of transnational law- and rule-making with respect to their varying impacts on, and links with, domestic governance institutions and their capacity.Less
Transboundary problems have long posed serious challenges to states’ governance capacities. As a result, the modern state has become increasingly reliant on effective institutional structures for cooperation and governance on a regional and global scale. However, since international law can only provide governance structures under certain conditions and within strict limits, many governments have turned to alternative forms of transnational ordering and global governance, key among them formal international institutions, informal government networks, extraterritorial regulation, and links with global private regulation. Yet these tools come with drawbacks—some are more effective than others, and the more effective they are, the more they tend to entail a loss of control for national governments, regulators, and administrators. This chapter analyses the different forms of transnational law- and rule-making with respect to their varying impacts on, and links with, domestic governance institutions and their capacity.
