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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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Private Regulators in Global Product Markets

Private Regulators in Global Product Markets

Institutional Structure and Complementarity in Product Regulation

(p.126) Chapter Six Private Regulators in Global Product Markets
The New Global Rulers

Tim Büthe

Walter Mattli

Princeton University Press

This chapter examines the role of private regulators in global product markets, with particular emphasis on institutional structure and institutional complementarity in product regulation. It first provides an overview of how the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) became, for most industries, the focal rule-making institutions for setting international product standards. It then considers the global institutional structure and decision-making procedures before describing the domestic structures in Europe and the United States. It shows that the institutional structure for setting product standards in the United States is characterized by institutional fragmentation and contestation among competing standard-setters. In Europe, by contrast, the domestic standard-setting institutions are characterized by a high degree of coordination and organizational hierarchy.

Keywords:   private regulators, global product markets, institutional structure, product regulation, International Organization for Standardization, International Electrotechnical Commission, rule-making institutions, product standards, institutional complementarity, United States

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