This article discusses the concept and challenges to transnational regulatory governance in the context of the global financial crisis in 2008, and characterises the dynamics of transnational regulatory governance by analysing the nature of the actors involved and of the nature and dynamics of the rules produced. It suggests that increasing calls for reregulation today could bring us back to tighter forms of governance and oversight at the national level, and that calls for tighter governance and oversight would combine to preserve the advantages of transnationalization. The article also highlights the need for strong and centralized authority in matters of governance and the transfer of Westphalian state power to a number of international institutions.
Keywords: transnational regulatory governance; global financial crisis; reregulation; centralized authority; state power; international institutions
Article. 6259 words.
Subjects: Politics ; Public Policy ; Comparative Politics
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