This volume explores a variety of forms of transnational private governance where non-state actors cooperate across borders to establish rules and standards accepted as legitimate by other agents. Transnational private governance is a core feature of the devolution of power that we observe in the global realm and that is bringing about new forms of authority. Transnational Private Governance provides theoretically and empirically informed insights into the interactions between states and non-state actors including domains beyond intergovernmental organizations, conventional non-governmental organizations, and multinational enterprises, covering a wide range of arrangements, from highly formal devolutions of power to lax and informal platforms of interaction between private actors. Contributing to the latest generation of globalization studies, the authors consider the relationship between states and markets as closely integrated and seek to broaden the scope of enquiry by including new patterns and agents of change on a transnational basis. This book will be of great interest to researchers and students of political science, international political economy, economics, business studies, globalisation and law.

Outsourcing state functions and the limits of existing regulatory regimes -- Contract as transnational regulatory governance -- The emergence of a transnational private regime for the regulation of PMSCs -- Conclusion -- Notes -- References -- 14. Conclusion: Empire through contract: A private international law perspective -- Abstract -- Introduction -- Self-constituting regimes: Private international law's libertarian view of contract -- Possible antidotes: From the undiscovered DNA of contract law to new global forms of legal pluralism -- Notes -- References -- Index

Develops a new theory of public regulatory interventions in private sustainability governance based on policymaking in the European Union.

Stories and images of collapsed factories, burned down sweatshops, imprisoned migrant workers, child workers and many other violations of internationally recognized labour rights continue to spread across the globe. This highly topical book examines the different instruments which are intended to protect labour rights on a transnational scale, and asks whether they make a difference. With perspectives from law, management, sociology, political science and political economy, the topics discussed include the protection of international labour rights in a globalizing economy, the EU’s social dimension in its external trade relations, Asian and US perspectives on labour rights in international trade agreements, the role of (trade) unions in global labour governance and the transformative capacity of private labour governance regimes. Academics and advanced students from different disciplines will benefit from the up-to-date empirical material in this study. Policymakers, NGOs and Unions will find the discussions of the instruments used to protect labour rights of great value to their work.

'This book draws out the profound implications and transformational dynamics of multi-level global governance of natural resources, labour standards and particularly food safety. the hybrid private-public governance of these supply chains has in some contexts made large western retailer groups more dominant regulators than states. Yet the new regulatory governance is more pluralistic in its flux than a shift from state to retailer hegemony. Governance by contracts of global sway more than government by statutes of states drives regulatory innovation. Legal entrepreneurs and model mongers of many stripes inspire this innovation. Political theory is yet to come to grips with the significance of the shifts this thoughtful collection ably traces.' – John Braithwaite, Australian National University 'This edited volume represents a major contribution to scholarship on the role of private standards in global governance. It brings together a wealth of important new research written by a distinguished group of scholars. It is noteworthy not only for the breadth and depth of its case-studies, but by its extensive analysis of the legal dimensions of private standard setting and enforcement.' – David Vogel, University of California, Berkeley, US Private regulatory initiatives aim to govern supply chains across the globe according to a set of environmental, food safety and/or social standards. Until now, literature on the topic has been fragmented and divided by research fields. However, this unique and comprehensive book bridges these disciplinary and thematic research lines, bringing together an interdisciplinary group of leading scholars to identify key issues. the expert contributors assess the state-of-the-art with regard to private regulation of food, natural resources and labour conditions. They begin with an introduction to, and discussion of, several leading existing private standards, and go on to assess private food standards and their legitimacy and effectiveness in the context of the global trade regime. This truly multidisciplinary assessment of the scope and importance of private standards as a governance tool in a globalizing world will prove to be an enlightening read for a wide-ranging audience encompassing: academics, students, researchers, policymakers and analysts focusing on private forms of governance in several sectors including economics, law, politics, development, environment and agriculture.

Trans-national private regulation has become a prominent form of rulemaking in several domains, from advertising to financial services, food safety and environmental regulation, with alternate fortune so far. In some cases, private regulation emerges spontaneously, independently of any legislative or policy initiative. This report takes stock of the activities performed within the HIIL project on “Transnational private regimes - Constitutional Foundations and governance design”, and proposes a toolkit for the analysis of the effectiveness of private regulatory organizations from the standpoint of their members as well as society as a whole. The report aims to contribute to the current debate on the use of ex ante impact assessment and ex post evaluation of private regulatory schemes by academics, private regulatory organizations, non-governmental organizations and governments.

From the first stock markets of Amsterdam,London, and New York to the billions of electronic commerce transactions today, privately produced and enforced economic regulations are more common, more effective, and more promising than commonly considered. In Private Governance, prominent economist Edward Stringham presents case studies of the various forms of private enforcement, self-governance, or self-regulation among private groups or individuals that fill a void that government enforcement cannot. Through analytical narratives the book provides a close examination of the world's first stock markets, key elements of which were unenforceable by law; the community of Celebration, Florida, and other private communities that show how public goods can be bundled with land and provided more effectively; and the millions of credit-card transactions that occur daily and are regulated by private governance. Private Governance ultimately argues that while potential problems of private governance, such as fraud, are pervasive, so are the solutions it presents, and that much of what is orderly in the economy can be attributed to private groups and individuals. With meticulous research, Stringham demonstrates that private governance is a far more common source of order than most people realize, and that private parties have incentives to devise different mechanisms for eliminating unwanted behavior. Private Governance documents numerous examples of private order throughout history to illustrate how private governance is more resilient to internal and external pressure than is commonly believed. Stringham discusses why private governance has economic and social advantages over relying on government regulations and laws, and explores the different mechanisms that enable private governance, including sorting, reputation, assurance, and other bonding mechanisms. Challenging and rigorously-written, Private Governance will make a compelling read for those with an interest in economics, political philosophy, and the history of current Wall Street regulations.

"Regulation by public and private organizations can be hijacked by special interests or small groups of powerful firms, and nowhere is this easier than at the global level ... This is the first book to examine systematically how and why such hijacking or 'regulatory capture' happens, and how it can be averted."--P. [iv] of cover.

When we speak of global governance today, we no longer mean simply state-to-state diplomacy, international treaties, or intergovernmental organizations like the United Nations. Alongside these ‘traditional' elements of global politics are a host of new institutions ranging from global networks of governmental officials, to private codes of conduct for corporations, to action-oriented partnerships of NGOs, governments, corporations, and other actors. These innovative mechanisms offer intriguing solutions to pressing transnational challenges as diverse as climate change, financial governance, workers' rights, and public health. But they also raise new questions about the effectiveness and legitimacy of transnational governance. An expanding body of scholarship has sought to identify and assess these new forms of governance, but this young body of work has lacked a sense of the larger picture. This volume seeks to fill that need by presenting a comprehensive overview of new forms of transnational governance. This resource is essential for those who want to explain why transborder governance has changed and to understand what implications these changes have for global politics.