a r t i c l e i n f o This paper investigates the effect of governance on levels of water pollution for all industrial activities as well as by some specific industry category in a sample of OECD economies. Using an institutional ecological economic conceptual framework, the effects of several measures of governance are empirically examined. Our findings reveal that the rule of law, regulatory ...

Relational governance works well in relatively small communities, which may be too small to allow perfect competition. This paper explores this idea using two models. In a spatial model with monopolistic competition, relational governance constrains the size of firms and can lead to inefficiently excessive entry. In a model where high quality is self-enforcing because its providers get a suffic...

There has not been a retreat but a transformation of the state, involving significant changes in both the public sphere of politics and the so-called private sphere of economic activity, and in their modes of interaction, especially law. The privatization of state-owned assets and the reduction of direct state economic intervention have not led to a reduced role of the state but to changes in i...

This paper forms part of a larger project examining governance 'beyond the regulatory state'. Three core assumptions of the regulatory state movement are scrutinized using theoretical and empirical literatures which challenge one or more of these central ideas: regulation is instrumental in character; the state is necessarily central to regulatory governance; state law is a central instrument o...

Economic performance depends crucially on how parties adapt to changing circumstances. We therefore study how the organization of economic activity can facilitate such adaptation. Where spot transactions would produce inefficient adaptation, we ask how governance structures (allocations of control) can facilitate relational contracts that improve on spot adaptation. We show that the optimal gov...

Modern times see an increased emphasis on the importance of sound governance in and by the local sphere of government. This holds particularly true for South Africa where, since the coming into effect of the Constitution of the Republic of South Africa, 1996, a number of objectives, critical functions and developmental duties have been laid before the door of local authorities. A comprehensive ...

Recently, many respected business leaders have voiced concern that corporate governance in American public companies has moved toward CEO primacy or a "dictatorship of the CEO," and away from traditional notions of shareholder primacy. This article shows that this concern is well-founded. The current system of corporate governance tends toward management indulgences. This is clearly reflected i...

The recent governance and anticorruption initiative of the World Bank1 (the Bank) has come under intense fire from developing nations and some corners of Europe. There is little disagreement that corruption and poor governance in developing nations represent substantial impediments to sustainable growth. The issue is whether the Bank’s continuing efforts to root out corruption and promote good ...

This article examines the role of political leadership within the realm of global governance. Drawing upon relevant theories of political agency, particular attention is given to addressing the relationship between leadership and collective action. A two-level analysis of institution building in relation to maritime security and economic trade and investment reveals both strengths and weaknesse...

The balance between the potential benefits and risks of nanotechnology is discussed based on judgments expressed by leading industry, academe and government experts at a U.S. National Nanotechnology Initiative (NNI) sponsored meeting. The results are summarized in various themes related to: economic impacts and commercialization; social scenarios; technological convergence; quality of life; eth...