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How the W orld T rade O rganization shapes regulatory governance
Author(s) -
Shaffer Gregory
Publication year - 2015
Publication title -
regulation and governance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.417
H-Index - 45
eISSN - 1748-5991
pISSN - 1748-5983
DOI - 10.1111/rego.12057
Subject(s) - corporate governance , normative , accountability , state (computer science) , scope (computer science) , political science , liberalization , global governance , order (exchange) , regulatory authority , international trade , public administration , economic system , law and economics , political economy , economics , law , management , finance , algorithm , computer science , programming language
The W orld T rade O rganization ( WTO ) arguably shapes regulatory governance in more countries to a greater extent than any other international organization. This article provides a new framework for assessing the broader transnational regulatory implications of the WTO as part of a transnational legal order ( TLO ) in terms of four dimensions of regulatory change that permeate the state: (i) changes in the boundary between the market and the state (involving concomitantly market liberalization and growth of the administrative state); (ii) changes in the relative authority of institutions within the state (promoting bureaucratized and judicialized governance); (iii) changes in professional expertise engaging with state regulation (such as the role of lawyers); and (iv) changes in normative frames and accountability mechanisms for national regulation (which are trade liberal and transnational in scope). In practice, these four dimensions of change interact and build on each other. The article presents what we know to date and a framework for conducting further study of such transnational legal ordering.