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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 Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691144795.001.0001

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Conclusions and Implications for Global Governance

Conclusions and Implications for Global Governance

Chapter:
(p.214) Chapter Nine Conclusions and Implications for Global Governance
Source:
The New Global Rulers
Author(s):

Tim Büthe

Walter Mattli

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691144795.003.0009

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.

Keywords:   global private governance, rule-making institutions, International Accounting Standards Board, International Organization for Standardization, International Electrotechnical Commission, global private regulation, public policy, institutional reform, rule-making, legitimacy

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