Convergence or Diversification?Building The Regulatory State From a Comparative Perspective
The global diffusion of regulatory states implies that many countries have adopted similar strategies to govern markets,therefore there exists some commonalities in the institutional development of regulatory states across different countries.However,more often than not,regulatory state building is a different phenomenon,varying across regions,countries,and industries.Regulatory states can serve the purpose of enhancing state intervention,emerge as a new market governance strategy to replace Keynesianism,or be transplanted and learned by states due to external pressures.The differences in regulatory state building will primarily manifest in the diverse characteristics of independent regulatory agencies in terms of their establishment time,covered industries,level of independence,functions,behaviors,and so on.Exploring the connection between these differences in regulatory state building and their regulatory outcomes,and analyzing the theoretical position and unique contributions of Chinese regulatory state building,will contribute to the further development of comparative theories on regulatory states.
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