Andreas Busch
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199218813
- eISBN:
- 9780191711763
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199218813.001.0001
- Subject:
- Political Science, International Relations and Politics, Political Economy
Does globalization erode the nation state's capacity to act? Are nation states forced to change their policies even if this goes against the democratic will of their electorates? How does government ...
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Does globalization erode the nation state's capacity to act? Are nation states forced to change their policies even if this goes against the democratic will of their electorates? How does government action change under conditions of globalization? Questions like these have not only featured highly in political debates in recent years, but also in academic discourse. This book contributes to that debate. The general question it addresses is whether globalization leads to policy convergence — a central, but contested topic in the debate, as theoretical arguments can be advanced both in favour of and against the likelihood of such a development. More specifically, the book contains detailed empirical case studies of four countries (the United States, the United Kingdom, Germany, and Switzerland) in a policy area where state action has been particularly challenged by the emergence of world-wide, around-the-clock financial markets in the last few decades, namely that of the regulation and supervision of the banking industry. Based on careful analysis of historical developments, specific challenges, the character of policy networks and institutions, and their interaction in the political process, this book argues that nation states still possess considerable room for manoeuvre in pursuing their policies. Even if they choose supranational coordination and cooperation, their national institutional configurations still function as filters in the globalization process.Less
Does globalization erode the nation state's capacity to act? Are nation states forced to change their policies even if this goes against the democratic will of their electorates? How does government action change under conditions of globalization? Questions like these have not only featured highly in political debates in recent years, but also in academic discourse. This book contributes to that debate. The general question it addresses is whether globalization leads to policy convergence — a central, but contested topic in the debate, as theoretical arguments can be advanced both in favour of and against the likelihood of such a development. More specifically, the book contains detailed empirical case studies of four countries (the United States, the United Kingdom, Germany, and Switzerland) in a policy area where state action has been particularly challenged by the emergence of world-wide, around-the-clock financial markets in the last few decades, namely that of the regulation and supervision of the banking industry. Based on careful analysis of historical developments, specific challenges, the character of policy networks and institutions, and their interaction in the political process, this book argues that nation states still possess considerable room for manoeuvre in pursuing their policies. Even if they choose supranational coordination and cooperation, their national institutional configurations still function as filters in the globalization process.
Michelle P. Egan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244058
- eISBN:
- 9780191599132
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244057.003.0007
- Subject:
- Political Science, European Union
Provides a detailed overview of the setting of European standards, focusing on the histories, organizational structures, and operating environments of the private standards‐setting bodies that have ...
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Provides a detailed overview of the setting of European standards, focusing on the histories, organizational structures, and operating environments of the private standards‐setting bodies that have been given an increased role in negotiating rules for the single market. An analysis of these bodies (CEN, CENELEC, and ETSI) provides an important assessment of the new institutional framework created to govern markets. Given the importance of this new approach, this chapter provides an in‐depth insight into the reorganization of responsibilities and roles of the various public and private actors in managing regulatory policy in the single market. The standards‐setting process is complex, and the organizational culture and operating norms of the standards bodies are reviewed to illustrate the dynamics of cooperation and the cooperation required to reach a coordinated solution. Dealing with collective action problems due to differing interests and regulatory traditions, the chapter demonstrates the importance of problem solving, alliance formation, and strategic bargaining as well as the role of mutual trust, credibility, and reputation in achieving some form of agreement on European standards.Less
Provides a detailed overview of the setting of European standards, focusing on the histories, organizational structures, and operating environments of the private standards‐setting bodies that have been given an increased role in negotiating rules for the single market. An analysis of these bodies (CEN, CENELEC, and ETSI) provides an important assessment of the new institutional framework created to govern markets. Given the importance of this new approach, this chapter provides an in‐depth insight into the reorganization of responsibilities and roles of the various public and private actors in managing regulatory policy in the single market. The standards‐setting process is complex, and the organizational culture and operating norms of the standards bodies are reviewed to illustrate the dynamics of cooperation and the cooperation required to reach a coordinated solution. Dealing with collective action problems due to differing interests and regulatory traditions, the chapter demonstrates the importance of problem solving, alliance formation, and strategic bargaining as well as the role of mutual trust, credibility, and reputation in achieving some form of agreement on European standards.
Michelle P. Egan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244058
- eISBN:
- 9780191599132
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244057.003.0008
- Subject:
- Political Science, European Union
Provides a case‐study analysis of the operation of this new regulatory policy, with particular attention paid to the difficulties of reaching collective agreement on common European standards. Case ...
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Provides a case‐study analysis of the operation of this new regulatory policy, with particular attention paid to the difficulties of reaching collective agreement on common European standards. Case studies of the toy, machinery, construction, and medical device sectors illustrate the tension between collaboration and competition among the firms and other actors involved in standardization. Given the scarcity of information on European standard setting, the case studies provide crucial empirical evidence about the conditions under which standardization is successful by providing comparable analysis of economic production and trends, past legislative history and efforts to address trade barriers, and subsequent standards negotiations across each sector. This provides important insights into the assessment and evaluation of the new regulatory process and its attendant benefits in realizing a single market.Less
Provides a case‐study analysis of the operation of this new regulatory policy, with particular attention paid to the difficulties of reaching collective agreement on common European standards. Case studies of the toy, machinery, construction, and medical device sectors illustrate the tension between collaboration and competition among the firms and other actors involved in standardization. Given the scarcity of information on European standard setting, the case studies provide crucial empirical evidence about the conditions under which standardization is successful by providing comparable analysis of economic production and trends, past legislative history and efforts to address trade barriers, and subsequent standards negotiations across each sector. This provides important insights into the assessment and evaluation of the new regulatory process and its attendant benefits in realizing a single market.
Andreas Busch
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199218813
- eISBN:
- 9780191711763
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199218813.003.0001
- Subject:
- Political Science, International Relations and Politics, Political Economy
This introductory chapter begins by setting out the context and scope of the book. It presents two theoretical approaches for modelling the relationship between increasing globalization and its ...
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This introductory chapter begins by setting out the context and scope of the book. It presents two theoretical approaches for modelling the relationship between increasing globalization and its effect on state capacity. It discusses the reasons behind the book's focus on the banking sector. An overview of the subsequent chapters is presented.Less
This introductory chapter begins by setting out the context and scope of the book. It presents two theoretical approaches for modelling the relationship between increasing globalization and its effect on state capacity. It discusses the reasons behind the book's focus on the banking sector. An overview of the subsequent chapters is presented.
David Vogel
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691124162
- eISBN:
- 9781400842568
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691124162.003.0008
- Subject:
- Political Science, Public Policy
This chapter describes how and explains why American regulatory policies have moved away from and European policies moved toward a precautionary approach to assessing and managing risks. It begins by ...
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This chapter describes how and explains why American regulatory policies have moved away from and European policies moved toward a precautionary approach to assessing and managing risks. It begins by documenting the precautionary basis of many of the risk regulations adopted by the United States, primarily before 1990, providing further evidence that there is nothing distinctively “European” about a precautionary approach to risk regulation. It then turns to the increasingly important role of regulatory impact analyses in the United States, which include both scientific risk assessments and cost–benefit analyses. The United States also experienced an influential backlash that questioned the rationale behind many of the highly risk-averse regulations it had previously adopted, claiming that many were false positive policy errors.Less
This chapter describes how and explains why American regulatory policies have moved away from and European policies moved toward a precautionary approach to assessing and managing risks. It begins by documenting the precautionary basis of many of the risk regulations adopted by the United States, primarily before 1990, providing further evidence that there is nothing distinctively “European” about a precautionary approach to risk regulation. It then turns to the increasingly important role of regulatory impact analyses in the United States, which include both scientific risk assessments and cost–benefit analyses. The United States also experienced an influential backlash that questioned the rationale behind many of the highly risk-averse regulations it had previously adopted, claiming that many were false positive policy errors.
Simona Piattoni
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199562923
- eISBN:
- 9780191721656
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199562923.003.0008
- Subject:
- Political Science, Comparative Politics, European Union
Environmental policy represents a tougher test for the empirical purchase of MLG. It is a regulatory policy that does not necessarily involve subnational authorities in a direct manner. However, ...
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Environmental policy represents a tougher test for the empirical purchase of MLG. It is a regulatory policy that does not necessarily involve subnational authorities in a direct manner. However, civil society organizations have allied with subnational authorities to force national authorities to abide by their commitments and have successfully been involved in policy‐ making, implementation, and monitoring. The tug‐of‐war between different territorial jurisdictional levels and between institutional and non‐institutional actors is discussed with reference to the notion of subsidiarity.Less
Environmental policy represents a tougher test for the empirical purchase of MLG. It is a regulatory policy that does not necessarily involve subnational authorities in a direct manner. However, civil society organizations have allied with subnational authorities to force national authorities to abide by their commitments and have successfully been involved in policy‐ making, implementation, and monitoring. The tug‐of‐war between different territorial jurisdictional levels and between institutional and non‐institutional actors is discussed with reference to the notion of subsidiarity.
Jaime Arancibia
- Published in print:
- 2011
- Published Online:
- May 2011
- ISBN:
- 9780199609079
- eISBN:
- 9780191725289
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199609079.001.0001
- Subject:
- Law, Constitutional and Administrative Law, Company and Commercial Law
English courts have traditionally held a policy of judicial restraint towards regulatory decisions in the commercial context. It is the purpose of this book to contribute to the debate on this issue ...
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English courts have traditionally held a policy of judicial restraint towards regulatory decisions in the commercial context. It is the purpose of this book to contribute to the debate on this issue by providing a critical view of the courts' deferential attitude and advocating a more intensive form of judicial review which is more satisfactory in terms of individual justice. This task is undertaken in three principal stages. First, the deferential approach of the courts is articulated. It is explained that this is particularly based on the regulator's expertise and institutional autonomy, and the demands of administrative efficiency, which prevent the courts from interfering with the development of regulatory policies. Secondly, it is argued that this policy seems to be inconsistent with relevant values of English public law which protect individuals from capricious and arbitrary executive action. In particular, it affects the right of the applicant to obtain an independent assessment of the validity of the impugned decision by a court which acts as ultimate arbiter of law. Finally, it is contended that close supervision over decisions which alter or determine the operation of markets is necessary to reach a level of judicial control that is consistent with the requirements of fairness and reasonableness in this area and with proper respect for the rights of the parties involved. This alternative approach is particularly founded on the principle of proportionality, which entails a greater judicial attenuation of administrative autonomy in order to ensure that actions do not go beyond what it is strictly necessary to achieve the desired outcome.Less
English courts have traditionally held a policy of judicial restraint towards regulatory decisions in the commercial context. It is the purpose of this book to contribute to the debate on this issue by providing a critical view of the courts' deferential attitude and advocating a more intensive form of judicial review which is more satisfactory in terms of individual justice. This task is undertaken in three principal stages. First, the deferential approach of the courts is articulated. It is explained that this is particularly based on the regulator's expertise and institutional autonomy, and the demands of administrative efficiency, which prevent the courts from interfering with the development of regulatory policies. Secondly, it is argued that this policy seems to be inconsistent with relevant values of English public law which protect individuals from capricious and arbitrary executive action. In particular, it affects the right of the applicant to obtain an independent assessment of the validity of the impugned decision by a court which acts as ultimate arbiter of law. Finally, it is contended that close supervision over decisions which alter or determine the operation of markets is necessary to reach a level of judicial control that is consistent with the requirements of fairness and reasonableness in this area and with proper respect for the rights of the parties involved. This alternative approach is particularly founded on the principle of proportionality, which entails a greater judicial attenuation of administrative autonomy in order to ensure that actions do not go beyond what it is strictly necessary to achieve the desired outcome.
Howard Sklamberg and Jennifer Devine
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780231171182
- eISBN:
- 9780231540070
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231171182.003.0004
- Subject:
- Law, Medical Law
This chapter offers an insider’s view from within FDA, focusing on the way in which the supply chain for therapeutics has become globalized, thrusting FDA into a new world of regulatory challenges. ...
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This chapter offers an insider’s view from within FDA, focusing on the way in which the supply chain for therapeutics has become globalized, thrusting FDA into a new world of regulatory challenges. After describing this phenomenon, the chapter turns to how FDA has tried to manage these developments, including through congressional changes to agency authority, partnerships with other national regulators, and additional steps.Less
This chapter offers an insider’s view from within FDA, focusing on the way in which the supply chain for therapeutics has become globalized, thrusting FDA into a new world of regulatory challenges. After describing this phenomenon, the chapter turns to how FDA has tried to manage these developments, including through congressional changes to agency authority, partnerships with other national regulators, and additional steps.
Robert P. Inman and Daniel L. Rubinfeld
- Published in print:
- 2020
- Published Online:
- January 2021
- ISBN:
- 9780691202129
- eISBN:
- 9780691202136
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691202129.003.0008
- Subject:
- Business and Management, Political Economy
This chapter outlines the principles for the efficient regulation of market activities in a federal economy. As with the provision of public services and the assignment of taxing powers, the aim is ...
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This chapter outlines the principles for the efficient regulation of market activities in a federal economy. As with the provision of public services and the assignment of taxing powers, the aim is to allocate regulatory responsibilities between local, state, and national governments so as to ensure efficient allocations. There may be too little regulation as a result of competition by local and state governments for private business and the compensating benefits for residents that those firms might provide, a competition known as “the race to the bottom.” The result will be lax environmental, competitive, or financial regulations imposing damages on residents of other localities or states. If those damages are significant and widespread, then national regulation of such activities will be appropriate. On the other hand, national regulations that preempt local regulations may restrict the ability of state and local governments to tailor their own environment or competitive marketplace to meet the specific needs of their residents. Allowing local regulatory choice that benefits only local residents and imposes only local costs, and may be copied by other states, may lead to a “race to the top.” The chapter provides a template for separating the two “races” and facilitating an informed national debate on federal regulatory policies.Less
This chapter outlines the principles for the efficient regulation of market activities in a federal economy. As with the provision of public services and the assignment of taxing powers, the aim is to allocate regulatory responsibilities between local, state, and national governments so as to ensure efficient allocations. There may be too little regulation as a result of competition by local and state governments for private business and the compensating benefits for residents that those firms might provide, a competition known as “the race to the bottom.” The result will be lax environmental, competitive, or financial regulations imposing damages on residents of other localities or states. If those damages are significant and widespread, then national regulation of such activities will be appropriate. On the other hand, national regulations that preempt local regulations may restrict the ability of state and local governments to tailor their own environment or competitive marketplace to meet the specific needs of their residents. Allowing local regulatory choice that benefits only local residents and imposes only local costs, and may be copied by other states, may lead to a “race to the top.” The chapter provides a template for separating the two “races” and facilitating an informed national debate on federal regulatory policies.
Miriam Allam
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199934386
- eISBN:
- 9780199333028
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199934386.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The Organisation for Economic Co-operation and Development (OECD) has played a key role in supporting the expansion of governance capabilities in Arab countries. Focusing on the work of the Middle ...
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The Organisation for Economic Co-operation and Development (OECD) has played a key role in supporting the expansion of governance capabilities in Arab countries. Focusing on the work of the Middle Eastern and North African (MENA)-OECD Governance Programme and its Working Group on Regulatory Reform, this chapter chronicles the progress of administrative reform in light of recent developments. The Arab Spring has highlighted the urgency with which MENA governments must improve regulatory policy tools in order to achieve ambitious reform goals. The key to improving policymaking in the MENA region is the enhancement of organizational capacities. This can be achieved by peer learning and the sharing of technical expertise, which can integrate evidence-based decision-making tools into regulatory management.Less
The Organisation for Economic Co-operation and Development (OECD) has played a key role in supporting the expansion of governance capabilities in Arab countries. Focusing on the work of the Middle Eastern and North African (MENA)-OECD Governance Programme and its Working Group on Regulatory Reform, this chapter chronicles the progress of administrative reform in light of recent developments. The Arab Spring has highlighted the urgency with which MENA governments must improve regulatory policy tools in order to achieve ambitious reform goals. The key to improving policymaking in the MENA region is the enhancement of organizational capacities. This can be achieved by peer learning and the sharing of technical expertise, which can integrate evidence-based decision-making tools into regulatory management.
N. Reichman
- Published in print:
- 1998
- Published Online:
- March 2012
- ISBN:
- 9780198765295
- eISBN:
- 9780191695292
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198765295.003.0012
- Subject:
- Law, Philosophy of Law
This chapter explicates the business sector's influence on the definition and distribution of white-collar crime within specific regulatory contexts. It argues that business sectors influence the ...
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This chapter explicates the business sector's influence on the definition and distribution of white-collar crime within specific regulatory contexts. It argues that business sectors influence the distribution of white-collar crime not only through their influence on the enactment and administration of law, but also through their relative abilities to define what regulatory law is, how it is violated, and enforced. The chapter weaves a model of regulatory authority and its effect on regulatory policy and practice around the context of deal making in the securities industry.Less
This chapter explicates the business sector's influence on the definition and distribution of white-collar crime within specific regulatory contexts. It argues that business sectors influence the distribution of white-collar crime not only through their influence on the enactment and administration of law, but also through their relative abilities to define what regulatory law is, how it is violated, and enforced. The chapter weaves a model of regulatory authority and its effect on regulatory policy and practice around the context of deal making in the securities industry.
Daniel DiSalvo
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199891702
- eISBN:
- 9780199949410
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199891702.003.0008
- Subject:
- Political Science, American Politics
The trajectory of state building since the Civil War has often been the result of factional struggles within the major parties rather than the result of conflict between the two parties. Sometimes ...
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The trajectory of state building since the Civil War has often been the result of factional struggles within the major parties rather than the result of conflict between the two parties. Sometimes factions have thrust wholly new initiatives onto the national agenda, providing the critical jolt needed to enact institutional reforms that had long been considered but not acted upon. On the other hand, some factions sought to preserve the status quo or dismantle existing government programs. Their aim was to block, dilute, or otherwise modify initiatives proposed by others or, going further, to roll back pieces of the state. Whether as catalysts for change or as an impediment to it, factions have consistently played an important state-building role. This chapter treats the conditions under which factions have had a powerful influence on the development of the American state.Less
The trajectory of state building since the Civil War has often been the result of factional struggles within the major parties rather than the result of conflict between the two parties. Sometimes factions have thrust wholly new initiatives onto the national agenda, providing the critical jolt needed to enact institutional reforms that had long been considered but not acted upon. On the other hand, some factions sought to preserve the status quo or dismantle existing government programs. Their aim was to block, dilute, or otherwise modify initiatives proposed by others or, going further, to roll back pieces of the state. Whether as catalysts for change or as an impediment to it, factions have consistently played an important state-building role. This chapter treats the conditions under which factions have had a powerful influence on the development of the American state.
C.B. Jones, C.J. Lee, and S.M.W. Rajaratnam
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780199566594
- eISBN:
- 9780191595066
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199566594.003.0020
- Subject:
- Public Health and Epidemiology, Public Health, Epidemiology
This chapter focuses on the intersection between sleep, law, and policy. It briefly discusses the types of actions some governments around the world have taken in response to some of the societal ...
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This chapter focuses on the intersection between sleep, law, and policy. It briefly discusses the types of actions some governments around the world have taken in response to some of the societal problems and issues related to sleep. Because governments have a legitimate interest in protecting public and occupational health and safety in their respective societies, it is unsurprising that they have addressed drowsiness-related risks as a matter of law and public policy, particularly in populations and occupational groups that can be identified as being more likely to be affected by these risks. Although a variety of challenges exist for designing and implementing effective regulatory and policy schemes, greater ‘scientifically informed’ decision-making by stakeholders from relevant disciplines may lead to more effective efforts to manage the risks associated with drowsiness as a matter of law and policy in the future.Less
This chapter focuses on the intersection between sleep, law, and policy. It briefly discusses the types of actions some governments around the world have taken in response to some of the societal problems and issues related to sleep. Because governments have a legitimate interest in protecting public and occupational health and safety in their respective societies, it is unsurprising that they have addressed drowsiness-related risks as a matter of law and public policy, particularly in populations and occupational groups that can be identified as being more likely to be affected by these risks. Although a variety of challenges exist for designing and implementing effective regulatory and policy schemes, greater ‘scientifically informed’ decision-making by stakeholders from relevant disciplines may lead to more effective efforts to manage the risks associated with drowsiness as a matter of law and policy in the future.
Marise Cremona
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199659654
- eISBN:
- 9780191748189
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199659654.003.0011
- Subject:
- Law, EU Law, Public International Law
The Common Commercial Policy, while asserting liberalization as a primary objective, has no corresponding explicit regulatory dimension. Nevertheless, the uniform principles which it mandates, ...
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The Common Commercial Policy, while asserting liberalization as a primary objective, has no corresponding explicit regulatory dimension. Nevertheless, the uniform principles which it mandates, together with powers derived from the internal market provisions, have provided a basis for developing an external regulatory policy through both autonomous measures and the conclusion of international agreements. In a recent policy document, the Commission recognized the need to ‘examine how to strengthen the mutual links between internal and external regulatory actions and how to improve coordination between the two’. This chapter outlines the components of this external regulatory policy: the basis and scope of EU external regulatory competence; and the EU's objectives in developing an external regulatory policy. Taking as an example the Anti-Counterfeiting Trade Agreement, the chapter examines its role in shaping EU external regulatory policy, and how the interaction between the EU's internal and external regulatory policy affects the EU's policy choices in contributing to global governance.Less
The Common Commercial Policy, while asserting liberalization as a primary objective, has no corresponding explicit regulatory dimension. Nevertheless, the uniform principles which it mandates, together with powers derived from the internal market provisions, have provided a basis for developing an external regulatory policy through both autonomous measures and the conclusion of international agreements. In a recent policy document, the Commission recognized the need to ‘examine how to strengthen the mutual links between internal and external regulatory actions and how to improve coordination between the two’. This chapter outlines the components of this external regulatory policy: the basis and scope of EU external regulatory competence; and the EU's objectives in developing an external regulatory policy. Taking as an example the Anti-Counterfeiting Trade Agreement, the chapter examines its role in shaping EU external regulatory policy, and how the interaction between the EU's internal and external regulatory policy affects the EU's policy choices in contributing to global governance.
Julia Black
- Published in print:
- 1997
- Published Online:
- March 2012
- ISBN:
- 9780198262947
- eISBN:
- 9780191682421
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198262947.003.0004
- Subject:
- Law, Constitutional and Administrative Law
This chapter investigates the three main phases of rule making: the creation of the initial rules, rules revision and statutory amendments to the rule making powers of the Securities and Investments ...
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This chapter investigates the three main phases of rule making: the creation of the initial rules, rules revision and statutory amendments to the rule making powers of the Securities and Investments Board (SIB) through which the New Settlement was formed, and the changes in the role of rules trailing SIB chairman Sir Andrew Large's report. It demonstrates how rules have been instrumental in determining the roles of the SIB and the self-regulating organisations in the regulatory structure and in achieving legitimacy for the regulatory system in general in an attempt to give political and media observers, such as the regulated, a different perspective of the regulation. Rules have been used to influence conduct, change perceptions and convey expectations. Two principal themes in using rules were identified: the interaction of rules within a regulatory system, the aggregation of various rule types, and the formation of a tiered rule system; and the shift in the uses of rules.Less
This chapter investigates the three main phases of rule making: the creation of the initial rules, rules revision and statutory amendments to the rule making powers of the Securities and Investments Board (SIB) through which the New Settlement was formed, and the changes in the role of rules trailing SIB chairman Sir Andrew Large's report. It demonstrates how rules have been instrumental in determining the roles of the SIB and the self-regulating organisations in the regulatory structure and in achieving legitimacy for the regulatory system in general in an attempt to give political and media observers, such as the regulated, a different perspective of the regulation. Rules have been used to influence conduct, change perceptions and convey expectations. Two principal themes in using rules were identified: the interaction of rules within a regulatory system, the aggregation of various rule types, and the formation of a tiered rule system; and the shift in the uses of rules.
Howard C. Kunreuther and Erwann O. Michel-Kerjan
- Published in print:
- 2009
- Published Online:
- August 2013
- ISBN:
- 9780262012829
- eISBN:
- 9780262255431
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262012829.003.0002
- Subject:
- Political Science, Political Economy
This chapter examines important regulatory institutions and policies, the advantages and disadvantages of different regulatory policies, the responses of regulators to market developments, and how ...
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This chapter examines important regulatory institutions and policies, the advantages and disadvantages of different regulatory policies, the responses of regulators to market developments, and how they may act in the future. It first outlines the government framework that governs property insurance markets, including insurance regulation, before turning to market and financial regulation and their impact on property insurance markets subject to catastrophe risk. It then compares market conditions and regulatory policies in four states: Texas, Florida, New York, and South Carolina. The chapter also considers the wind-versus-water controversy and related litigation and concludes with a discussion of the administration of residual market facilities and other government insurance and reinsurance mechanisms in the four states.Less
This chapter examines important regulatory institutions and policies, the advantages and disadvantages of different regulatory policies, the responses of regulators to market developments, and how they may act in the future. It first outlines the government framework that governs property insurance markets, including insurance regulation, before turning to market and financial regulation and their impact on property insurance markets subject to catastrophe risk. It then compares market conditions and regulatory policies in four states: Texas, Florida, New York, and South Carolina. The chapter also considers the wind-versus-water controversy and related litigation and concludes with a discussion of the administration of residual market facilities and other government insurance and reinsurance mechanisms in the four states.
Bronwen Morgan, Morag McDermont, and Martin Innes
- Published in print:
- 2020
- Published Online:
- September 2020
- ISBN:
- 9781447348016
- eISBN:
- 9781447348061
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447348016.003.0011
- Subject:
- Political Science, Public Policy
This concluding chapter seeks to build inductively from the findings of the research projects discussed in previous chapters, summarising their collective implications to address what makes it ...
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This concluding chapter seeks to build inductively from the findings of the research projects discussed in previous chapters, summarising their collective implications to address what makes it possible to regulate for engagement. It argues that the answer is a processual one. A threefold dynamic process underpins effective regulation for engagement, constituted by three factors that build upon and support each other. The chapter first elaborates on this threefold process, drawing on micro-illustrations from the preceding chapters. It follows by acknowledging the limits and perils of these dynamics, especially if they are institutionalised through traditional regulatory policy or legally enforceable programmes. Responding to these limits is the aim of the chapter's conclusion, where it is argued that embedding these practices and processes in experientially sensitive infrastructure is the key to preserving and stabilising their creative potential.Less
This concluding chapter seeks to build inductively from the findings of the research projects discussed in previous chapters, summarising their collective implications to address what makes it possible to regulate for engagement. It argues that the answer is a processual one. A threefold dynamic process underpins effective regulation for engagement, constituted by three factors that build upon and support each other. The chapter first elaborates on this threefold process, drawing on micro-illustrations from the preceding chapters. It follows by acknowledging the limits and perils of these dynamics, especially if they are institutionalised through traditional regulatory policy or legally enforceable programmes. Responding to these limits is the aim of the chapter's conclusion, where it is argued that embedding these practices and processes in experientially sensitive infrastructure is the key to preserving and stabilising their creative potential.
Robert Baldwin, Martin Cave, and Martin Lodge
- Published in print:
- 2011
- Published Online:
- April 2015
- ISBN:
- 9780199576081
- eISBN:
- 9780191806698
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199576081.003.0015
- Subject:
- Business and Management, Political Economy
This chapter examines the role of regulatory impact assessment and other forms of economic analysis as a means of evaluating and influencing regulatory policy. It first considers the growing ...
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This chapter examines the role of regulatory impact assessment and other forms of economic analysis as a means of evaluating and influencing regulatory policy. It first considers the growing importance of regulatory impact analyses in government before turning to a discussion of the general challenges of using cost-benefit analysis to evaluate regulatory proposals and actions. It then outlines the difficulties of incorporating economic impact analysis within policymaking and legislative processes. Finally, it asks whether the use of impact analysis is likely to lead to ‘better’ regulation.Less
This chapter examines the role of regulatory impact assessment and other forms of economic analysis as a means of evaluating and influencing regulatory policy. It first considers the growing importance of regulatory impact analyses in government before turning to a discussion of the general challenges of using cost-benefit analysis to evaluate regulatory proposals and actions. It then outlines the difficulties of incorporating economic impact analysis within policymaking and legislative processes. Finally, it asks whether the use of impact analysis is likely to lead to ‘better’ regulation.
Julia Black
- Published in print:
- 1997
- Published Online:
- March 2012
- ISBN:
- 9780198262947
- eISBN:
- 9780191682421
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198262947.003.0002
- Subject:
- Law, Constitutional and Administrative Law
Several potential techniques on how to use rules can be developed to deal with the limitations of rules, based on a theoretical study and interpretation of rules. The strategies may be the use of ...
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Several potential techniques on how to use rules can be developed to deal with the limitations of rules, based on a theoretical study and interpretation of rules. The strategies may be the use of various types of rules, structuring the condition in which rules are applied or modifying the way rules operate. Although the analysis and proposals in this chapter are not limited to the use of rules in regulating financial services, an analysis suggests that rule makers in financial services have adopted two of the proposed rule use, rule type and interpretive communities development. The analysis also reflects that the reasons for rule use could go beyond addressing rules' limits. Different rule types have been adopted by regulators to achieve various goals, and the issue of how rules should be used has at times been a concern of regulatory policy.Less
Several potential techniques on how to use rules can be developed to deal with the limitations of rules, based on a theoretical study and interpretation of rules. The strategies may be the use of various types of rules, structuring the condition in which rules are applied or modifying the way rules operate. Although the analysis and proposals in this chapter are not limited to the use of rules in regulating financial services, an analysis suggests that rule makers in financial services have adopted two of the proposed rule use, rule type and interpretive communities development. The analysis also reflects that the reasons for rule use could go beyond addressing rules' limits. Different rule types have been adopted by regulators to achieve various goals, and the issue of how rules should be used has at times been a concern of regulatory policy.
PERRY GAUCI
- Published in print:
- 1996
- Published Online:
- October 2011
- ISBN:
- 9780198206057
- eISBN:
- 9780191676956
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198206057.003.0007
- Subject:
- History, British and Irish Early Modern History
One of the more surprising gap in the historiography of the 1690s remains the fate of the corporations in the aftermath of the regulatory policies of the later Stuarts. The Glorious Revolution has ...
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One of the more surprising gap in the historiography of the 1690s remains the fate of the corporations in the aftermath of the regulatory policies of the later Stuarts. The Glorious Revolution has rightly been accredited as a watershed in the crown's relationship with its local governors. Despite this early success, the town had good cause to fear for its privileged position. The Yarmouth Corporation's prospects were not dissimilar to those of the suspect earl. Further financial decline was likely while haven blockage continued to threaten the trade of the port. The outbreak of hostilities in 1665 and 1672 had been greeted with trepidation by the mercantile community at Yarmouth. Despite the upheavals of war, Yarmouth's parliamentary election of October 1695 suggested that mercantile difficulties had far from dissolved local unity.Less
One of the more surprising gap in the historiography of the 1690s remains the fate of the corporations in the aftermath of the regulatory policies of the later Stuarts. The Glorious Revolution has rightly been accredited as a watershed in the crown's relationship with its local governors. Despite this early success, the town had good cause to fear for its privileged position. The Yarmouth Corporation's prospects were not dissimilar to those of the suspect earl. Further financial decline was likely while haven blockage continued to threaten the trade of the port. The outbreak of hostilities in 1665 and 1672 had been greeted with trepidation by the mercantile community at Yarmouth. Despite the upheavals of war, Yarmouth's parliamentary election of October 1695 suggested that mercantile difficulties had far from dissolved local unity.