Jump to ContentJump to Main Navigation
From Mercenaries to MarketThe Rise and Regulation of Private Military Companies$
Users without a subscription are not able to see the full content.

Simon Chesterman and Chia Lehnardt

Print publication date: 2007

Print ISBN-13: 9780199228485

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780199228485.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 19 August 2019

The emerging market for private military services and the problems of regulation

The emerging market for private military services and the problems of regulation

(p.181) 10 The emerging market for private military services and the problems of regulation
From Mercenaries to Market

Deborah Avant

Oxford University Press

The fourth and last part turns on the role of market mechanisms in regulation. The commercial military sector falls short of being a fully developed market in several areas. This chapter examines the emergence of this market, focusing on the peculiarities of the industry — in particular the lack of competition and transparency, and the tendency of individuals to move easily between firms — and the limitations of market mechanisms when applied to extreme situations where the security of a state is threatened. The lack of other regulatory tools has increased the importance of the market, but this potential tool is too weak to maintain specific standards, since clients tend to disagree about the relevant benchmarks. The diversity of interests among PMC clients therefore significantly diminishes the importance of reputational costs of the industry.

Keywords:   market mechanisms in regulation, commercial military sector, competition, transparency

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .