Regulatory Regionalism

Description

Kanishka Jayasuriya:

"One of the interesting elements of the crisis is the way in which new forms of regional governance are being used to respond to the crisis — a process we describe as ‘regulatory regionalism’. Shahar Hameiri and myself have elaborated on this regulatory regionalism framework in a recent Special Issue of the Australian Journal of International Affairs (Hameiri 2009a; 2009b; and Jayasuriya, 2009). This has been expanded further in a forthcoming special issue of the journal Globalisation, Societies and Education on the topic ‘Regulatory Regionalism and the Governance of Higher Education’, which I have edited with Susan Robertson of the University of Bristol (Jayasuriya and Robertson, 2010)." (http://www.criticalglobalisation.com/Issue3/127_138_INTERVIEW_JAYASURIYA_JCGS3.pdf)

Example

Kanishka Jayasuriya:

"This is not simply a question of the global against the regional; it is about the way in which the regional is layered onto global and national regulation in the implementation of administrative rules. In the East Asian context, a particularly important role has been played by the Asia Development Bank (ADB) in providing the framework for financial and economic policy at the national and sub-national level. The ADB has also played a significant role in regional financial initiatives. These changes reinforce initiatives such as the Chiang Mai Initiative (CMI), which provided emergency funds for currency stabilization in the event of a financial tsunami sweeping through the region, such as the 1997-98 Asian crisis (or the 2008 credit crisis). The initiative is limited in scope as well as in terms of the volume of funds available for emergency funding. However, the very fact that a currency stabilization scheme such as the CMI is on the policy agenda is itself a major step away from the Asia-Pacific region’s traditional emphasis on trade liberalization." (http://www.criticalglobalisation.com/Issue3/127_138_INTERVIEW_JAYASURIYA_JCGS3.pdf)

More Information

• a comment from the same author on the Transnational Class

Bibliography:

Jayasuriya, K. & Robertson, S. 2010. Regulatory Regionalism and the Governance of Higher Education. Globalisation, Societies and Education, 8(1): pp. 1-6.

---. 2009. Regulatory Regionalism in the Asia-Pacific: Drivers, Instruments and Actors. Australian Journal of International Affairs, 63 (3): pp. 335-347.

---. 2010a. Learning By the Market: Regulatory Regionalism, Bologna, and Accountability Communities. Globalisation, Societies and Education, 8(1): pp. 7-22.