Premium
Global Governance through Private Organizations
Author(s) -
Ronit Karsten,
Schneider Volker
Publication year - 1999
Publication title -
governance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.46
H-Index - 76
eISSN - 1468-0491
pISSN - 0952-1895
DOI - 10.1111/0952-1895.00102
Subject(s) - corporate governance , sanctions , variety (cybernetics) , global governance , business , compliance (psychology) , industrial organization , public relations , political science , finance , law , computer science , psychology , social psychology , artificial intelligence
Governance at international and global levels is not only provided through states and markets but also through a variety of private organizations. The business world is well represented through this kind of organization and contributes to global governance through self‐regulation across a number of industries. This article examines these efforts in the encompassing organization of global commerce, in the pharmaceutical industry and among dye stuffs producers. Smaller organizations are generally better suited to monitor compliance and impose sanctions on members violating the codes and norms behind self‐regulation. Even small organizations, however, are confronted with problems and there is also evidence of large and very complex organizations having established effective mechanisms as alternatives to public regulation. These experiences can be built into theories on self‐regulation as a form of global governance.