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Keywords:

  • fuel economy;
  • globalization;
  • online gambling;
  • regulation;
  • sovereignty

Abstract

Globalization is sometimes taken as a synonym for market liberalization, because it is claimed that power has flowed from states to markets. Whether happening as a result of undeniable “forces” or some hegemonic consensus, many on both the left and right of politics agree that this is a reality. However, this article argues that states which share sovereignty with market actors are able to influence outcomes beyond their borders. The cases of fuel economy and online gambling regulations are used to illustrate the point. In the former case, Japanese and European industry-driven regulations are being “exported” in the attributes of the products of their car industries. In the latter, UK market-friendly regulations are likely to be “exported” to the European region and beyond because of industry support, and market liberalization principles embodied in European Union institutions. Both cases indicate that sharing sovereignty in the process of making and implementing national regulations produces opportunities for global regulation.