Does Economic Governance Matter?

‘This book is a welcome addition to the lively field of economic governance. The editors give a thoughtful review of ideas and landmarks in the literature and an organizing framework; the other chapters are a good mixture of theoretical, empirical, and case studies. The whole will significantly advance our understanding of institutions and economic performance.’
– Avinash Dixit, Princeton University, US

Economic governance institutions (rules, norms and enforcement practices) define the cost and incentive structures that influence the decisions of economic actors. They therefore have a significant impact on micro and macro economic performance across countries and time.

This book contributes to the growing governance literature in three ways. First, it extends the analysis to new areas such as power asymmetry, regulation, transnational company strategies, and law enforcement. Secondly, it examines the role of formal institutions that shape and enforce the rules/norms codified in law; but also private-ordering institutions that function under the umbrella of the State; and private institutions (such as market rules/norms) that provide reputational and other information that foster compliance. Finally, the book extends and enriches the governance debate, addressing issues such as the determinants of institutional quality and efficiency, and the interaction between actor networks and institutional norms.

Does Economic Governance Matter? brings together state-of-the-art research and analysis that will appeal to academics and undergraduate and postgraduate students of economics, public policy, network analysis, corporate governance and business law. The book will also appeal to a wide range of practitioners and policymakers in areas such as regulation, competition, international development, corporate law and macroeconomic policy design.

Contents:

1. Does Economic Governance Matter? New Contributions to the Debate
Mehmet Ugur and David Sunderland

PART I: GOVERNANCE INSTITUTIONS AND MICRO-LEVEL BEHAVIOUR
2. Governance and Asymmetric Power
Korkut Alp Ertürk

3. Norms, Advice Networks and Joint Economic Governance: The Case of Conflicts Among Shareholders at the Commercial Court of Paris
Emmanuel Lazega, Lise Mounier and Paola Tubaro

4. Legal versus Reputational Penalties in Deterring Corporate Misconduct
Peter-Jan Engelen

5. Strategies of Transnational Companies in the Context of the Governance Systems of Nation-states
Grazia Ietto-Gillies

PART II: GOVERNANCE INSTITUTIONS AND MACROECONOMIC OUTCOMES
6. The Effects of Convergence in Governance on Capital Accumulation in the Black Sea Economic Cooperation Countries
Ahmet Faruk Aysan, Ömer Faruk Baykal and Marie-Ange Véganzonès–Varoudakis

7. Taxes, Foreign Aid and Quality of Governance Institutions
José Antonio Alonso, Carlos Garcimartín and Luis Rivas

8. Economic Governance and Full Employment
Constantine E. Passaris

PART III: THE GOVERNANCE AND REGULATION INTERFACE
9. The Political Economy of Deregulation in the US Gas Distribution Market
Vladimir Hlasny

10. Electricity Sector Reforms and the Tariff Review Process in Brazil
Cláudio de Araújo Wanderley, John Cullen and Mathew Tsamenyi

Index