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Transatlantic Regulatory CooperationLegal Problems and Political Prospects$
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George A. Bermann, Matthias Herdegen, and Peter L. Lindseth

Print publication date: 2001

Print ISBN-13: 9780198298922

Published to Oxford Scholarship Online: March 2012

DOI: 10.1093/acprof:oso/9780198298922.001.0001

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The ‘demand’ for international regulatory cooperation: a public-choice perspective

The ‘demand’ for international regulatory cooperation: a public-choice perspective

(p.146) (p.147) The ‘demand’ for international regulatory cooperation: a public-choice perspective
Transatlantic Regulatory Cooperation

Jonathan R. Macey

Oxford University Press

This chapter decisively adopts a ‘public-choice’ perspective, holding that what matters most in determining which international regulatory processes will emerge and prove effective is not some neutral institutional assessment, but rather the political motivations of regulators, bureaucrats, and other public officials. According to this view, regulators enter into international arrangements if and to the extent they determine that it is in their interest to do so. Under some circumstances, regulators may eschew commitments because the latter entail sacrifices in autonomy; increasingly, under contemporary technological and globalized conditions, regulators find that international arrangements enhance rather than weaken their authority within a national regulatory environment in which they may otherwise find their authority sharply challenged.

Keywords:   United Nations, Basle Accords, Monetary Union, public-choice view

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