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Trade Agreements, Regulatory Sovereignty and Democratic Legitimacy

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  • Bernard Hoekman
  • Charles Sabel

Abstract

Governments increasingly are seeking to use bilateral and regional trade agreements to reduce the cost-increasing effects of differences in product market regulation. They also pursue regulatory cooperation independent of trade agreements. It is important to understand what is being done through bilateral or plurilateral mechanisms to address regulatory differences, and to identify what, if any, role trade agreements can play in supporting international regulatory cooperation. This paper reflects on experience to date in regulatory cooperation and the provisions of recent trade agreements involving advanced economies that have included regulatory cooperation. We argue for a re-thinking by trade officials of the modalities and design of trade negotiations and the incorporation of institutional mechanisms that draw on insights of experimentalist governance approaches to enhance the scope for international regulatory cooperation.

Suggested Citation

  • Bernard Hoekman & Charles Sabel, 2017. "Trade Agreements, Regulatory Sovereignty and Democratic Legitimacy," RSCAS Working Papers 2017/36, European University Institute.
    • Handle: RePEc:rsc:rsceui:2017/36
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    References listed on IDEAS

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    Cited by:

    1. Matteo Fiorini & Bernard Hoekman, 2017. "Economic Governance, Regulation and Services Trade Liberalization," RSCAS Working Papers 2017/27, European University Institute.
    2. Bernard Hoekman & Douglas R Nelson, 2018. "Reflecting on populism and the economics of globalization," Journal of International Business Policy, Palgrave Macmillan, vol. 1(1), pages 34-43, June.
    3. Bernard Hoekman & Douglas Nelson, 2018. "21st Century Trade Agreements and the Owl of Minerva," RSCAS Working Papers 2018/04, European University Institute.

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    More about this item

    Keywords

    Trade agreements; regulation; international cooperation; sovereignty; legitimacy;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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