Conclusion: Governance and Market‐Building

Michelle P. Egan

in Constructing a European Market

Published in print June 2001 | ISBN: 9780199244058
Published online November 2003 | e-ISBN: 9780191599132 | DOI:
 Conclusion: Governance and Market‐Building

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The conclusion summarizes the difficulties of achieving some form of accommodation between the interests of government, business, and society in constructing a single integrated market. The politics of market building is often a contentious process about the best ways to reconcile regulation and free trade. This involves not only the allocation of authority between different levels of government but also an acknowledgement that the corporate strategies are a major determinant of the nature and direction of European market integration. Using private actors for public purposes, the EU has delegated certain regulatory functions to European standards bodies as a substitute for direct government action. Comparisons with the construction of the American single market reveal a counterpart in the European Union, as both legal and regulatory intervention have been crucial in removing persistent obstacles to trade, and institutional arrangements have involved the strategic use of the private sector to integrate ‘uncommon’ markets.

Keywords: corporate strategy; delegation; European standards; European Union; free trade; governance; market integration; regulation; single market; USA

Chapter.  5039 words. 

Subjects: European Union

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