Innovations in Globalized Regulation : Opportunities and Challenges

Innovations in Globalized Regulation : Opportunities and Challenges

This paper lays out a comparative framework for assessing the potential, limitations and challenges of a variety of emerging institutional innovations in globalized regulation. The framework highlights two dimensions of effectiveness -- the...

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Bibliographic Details
Main Author:	Levy, Brian
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ABUSES ACCOUNTABILITY ACCREDITATION ADMINISTRATIVE REGULATION ADMINISTRATIVE REGULATIONS ADVOCACY ANTI-BRIBERY ANTI-CORRUPTION ANTIBRIBERY ANTICORRUPTION ANTICORRUPTION CONVENTIONS APPROACHES TO REGULATION AUDITING AUDITOR BANKS BEST PRACTICE BEST PRACTICES BRIBE BRIBERY CONVENTION BRIBERY LEGISLATION BRIBERY OF FOREIGN PUBLIC OFFICIALS BUILDING CONSENSUS BUSINESS PRINCIPLES CENTRAL BANK GOVERNORS CERTIFICATION CERTIFICATION BODIES CERTIFICATION SCHEME CERTIFIERS CHILD LABOR CIVIL SOCIETY CIVIL SOCIETY ACTORS CIVIL SOCIETY ENGAGEMENT CIVIL SOCIETY GROUPS CIVIL SOCIETY ORGANIZATION CIVIL SOCIETY ORGANIZATIONS CODE OF CONDUCT COLLAPSE COLLECTIVE BARGAINING COMBATING BRIBERY COMPETITORS COMPULSORY LABOR CONSENSUS CONSULTATION CONSUMERS CONTENT OF REGULATIONS CORE LABOR STANDARDS CORPORATE CONDUCT CORPORATE PRACTICE CORPORATE SOCIAL RESPONSIBILITY CORRUPT CORRUPTION INVESTIGATION CREDIBILITY DEPARTMENT OF JUSTICE DISCRIMINATION DRIVERS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMICS ENFORCEMENT MECHANISM ENVIRONMENTAL STANDARDS EXTERNALITIES EXTRACTIVE INDUSTRIES FACTORIES FAIR TRADE FIGHT AGAINST CORRUPTION FIGURES FINAL DECISION FINANCIAL MARKET FINANCIAL MARKETS FOREIGN CORRUPT PRACTICES FOREIGN CORRUPT PRACTICES ACT FRAUD FREEDOM OF ASSOCIATION GOVERNMENT OFFICIALS GOVERNMENTAL ORGANIZATION GOVERNMENTAL ORGANIZATIONS HUMAN RIGHTS INCOME INITIATIVE INNOVATION INNOVATIONS INSTITUTIONAL ANALYSIS INTEGRITY INTERNATIONAL AGREEMENTS INTERNATIONAL CERTIFICATION INTERNATIONAL LABOR INTERNATIONAL LAW INTERNATIONAL ORGANIZATIONS INTERNATIONAL STANDARDS INTERNATIONAL STANDARDS ORGANIZATION JURISDICTIONS JUSTICE LABOR ORGANIZATION LABOR REGULATIONS LABOR STANDARD LABOR STANDARDS LAWS LEADERSHIP MINISTER MOTIVATION NATIONAL LAW NATIONAL LAWS NEGOTIATIONS NONCOMPLIANCE POLICE POVERTY REDUCTION PREFERENTIAL PROCUREMENT PRODUCTION PROCESS PRODUCTIVITY PROSECUTIONS PUBLIC GOODS PUBLIC SECTOR RECONSTRUCTION REGULATORS REGULATORY APPROACHES REGULATORY AREAS REGULATORY EFFECTIVENESS REGULATORY INITIATIVES REGULATORY INSTITUTIONS REGULATORY OBJECTIVES REGULATORY REFORM REGULATORY REGIME REGULATORY RESPONSIBILITIES REGULATORY TOOL RENTS RULES RULES OF CONDUCT SAFETY SANCTION SCANDAL SCANDALS SELF-REGULATION SET OF RULES SOCIAL ACCOUNTABILITY SOCIAL RESPONSIBILITY SOCIAL STANDARDS STAKEHOLDER STAKEHOLDER ENGAGEMENT STAKEHOLDER GROUP STAKEHOLDERS SUPPLIERS SUPPLY CHAIN SUPPLY CHAIN MANAGEMENT SUPPLY CHAINS TECHNICAL ASSISTANCE TRADE LABOR TRANSACTIONS COSTS TRANSPARENCY WORKERS RIGHTS WORKING CONDITIONS WORKPLACE
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111011144542 http://hdl.handle.net/10986/3607

Description
Summary:	This paper lays out a comparative framework for assessing the potential, limitations and challenges of a variety of emerging institutional innovations in globalized regulation. The framework highlights two dimensions of effectiveness -- the comprehensiveness of coverage, and the credibility of the regulatory regime. Performance in relation to these two dimensions is assessed for three distinctive approaches to globalized regulation: i) Government-centric approaches, including treaties, extra-territorial regulation and government networks -- seven examples are assessed in the paper. ii) Civil regulation, including both joint initiatives by private firms and civil society, and wholly private self-regulatory approaches -- with eight examples assessed. iii) Hybrid approaches, involving multiple governmental and non-governmental stakeholders -- with three examples assessed. Overall, the assessment points to an abundance of innovation -- but a seeming failure of the many innovations to deliver more than, at best, partial successes in meeting the credibility and comprehensiveness criteria for effectiveness. The paper concludes by suggesting ways in which the distinct elements of different approaches might be combined so that the whole can be more, rather than less, than the sum of its parts. The way forward is likely to be incremental and cumulative, bottom-up as well as top down -- transcending a too neat, and ultimately unhelpful, bifurcation between civil society advocacy and technocratic rule-making.

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