The European Union as a global regulator? Context and comparison

Abstract:

The European Union's (EU's) regulations affect how business is conducted and consumers and the environment protected in parts of the world far beyond its borders. Moreover, the external impact of its regulations informs understandings of the EU as a global actor. This contribution makes three main arguments. First, the EU's regulatory influence varies systematically across different forms of regulatory interaction: regulatory competition and different forms of regulatory co-operation. The form of regulatory interaction, therefore, is a critical intervening variable between the EU's regulatory power resources and its influence. Second, within the different forms of regulatory co-operation the EU's influence varies in line with expectations derived from the literature. But, third, the magnitude of the EU's influence seems to be considerably less in regulatory co-operation than suggested by the literature on regulatory competition; a finding that reinforces the first argument. The contribution also introduces the rest of the special issue, identifying three overarching conclusions: the utility of the EU's regulatory power resources is context specific; debates about what kind of power the EU is, at least as previously conceived, are unproductive; and that the EU's engagement in the world is better explained through general theories of international political economy.