Corporate Governance

Regulatory Governance

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My work is an analysis of the regulatory state in the development. The study focuses on diffusion of privatization and regulatory authority around Europe. The contemporary regulatory state has developed as a result of political struggle that accompanied and increasingly globalized world and was in the beginning a response to the serious international economic crisis that emerged in the 1970s.Two major functions of governance are at stage: steering (leading, guiding) and rowing (enterprises, service provision). The regulatory state is said to be characterized by ‘steering without rowing’. The new order of regulatory capitalism represents a new division of labor between state and society and in particular between state and business: ‘Steering by State’ and ‘Rowing by Business’. However, in my opinion something is missing here. There are arguments for another division of functions: 1) Steering by State, 2) Rowing by Business and 3) Rowing by Self-regulatory Business-like state Agencies. The process of regulatory agencification has indeed exploded, and in this process regulation has become a distinct and salient function in the institutions of policy making. Regulatory governance, i.e. heavy involvement of self-regulatory unelected business-like state agencies in government, has become a universal concept. This conclusion might very well be documented clearly through empirical facts

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Series Title

Regulatory Governance

Call Number

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Publisher

: Bookboon.com., 2015

Collation

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Language

English

ISBN/ISSN

978-87-403-0904-1

Classification

NONE

Content Type

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Edition

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Subject(s)

Corporate Governance

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