Legitimacy of Decentered Regulatory Models in the Age of Global Governance[1], Author Goran Sumkoski, International Journal of Global Ideas, VOL. 6, June 2016, pp.42-64
INTERNATIONAL JOURNAL OF GLOBAL IDEAS: VOL. 6 (2016, June) 42
LEGITIMACY OF REGULATION IN THE AGE OF GLOBAL GOVERNANCE
Goran Sumkoski
Meiji University, Global Governance School, Japan
sumkoski@meiji.jp.ac
Abstract
The regulation models in a de-centered system of global governance are characterized by eroding states’ powers through the process of creation of independent regulatory agencies in charge of infrastructure regulation, something that was until not very distant past a sole and only power and mandate of the states. The analysis of the legitimacy of such regulatory models in the age of global governance is empirically tested for a set of OECD countries and separately for Bangladesh as a developing country, using data for the period between 1975/1985 and 2013. The results show that citizens in OECD countries and Bangladesh have been legitimizing their governments’ relinquishing such powers in the last several decades. The support, especially in Bangladesh, may be tentative and given in exchange not for the current but for expected
improvement of services in infrastructure since the jury is still out whether the independent regulatory agencies will deliver the promised results.
Key words: legitimacy, regulation, independent regulatory agency, global governance, developing country.
[1] http://journalglobalideas.com/?page_id=11
