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This extensive research review conveys the leading scholarly ideas on modern regulatory governance since 1871. The review lays out the rationales for and critiques of technocratic governance in industrialized societies. It traces the evolution of regulatory institutions, highlighting the most recent era of globalization, deregulation, privatization and regulatory innovation before examining influential frameworks for understanding regulatory culture in action, assessing the impacts of regulatory policies, and explaining regulatory change. This review is a definitive source of reference for libraries, regulators, administrative lawyers, regulated businesses, NGOs and scholars of regulation from across the social sciences

Over the past decade, there has been increased interest in improving business regulations, in part because of the increased availability of data that can inform and monitor those improvements. This paper analyzes whether these regulatory changes are linked to economic outcomes. With panel data for 10 years across more than 180 countries, the paper establishes the link between business regulations, firm creation, and growth. It is found that an improvement of 10 points in the overall measure of business regulations is linked to an increase of around 0.5 new businesses per 1,000 adults. Moreover, the results show that although small changes in the overall level of business regulations may have a negligible link to growth, moving from the lowest quartile of improvement in business regulations to the highest quartile is associated with a significant increase in annual per capita growth of around 0.8 percentage points. In addition, the results highlight the importance of sound entry and exit regulations and sound credit market regulations and court enforcement for growth.

In the twenty-first century, global business regulation has come of age. In this article, we review the literature on globalization and business regulation from the angle of transnational governance, a recently evolving interdisciplinary field of research. Despite the multiplicity and plurality of regulatory platforms and products that have emerged over time, we identify common patterns of field structuration and parallel trajectories. We argue that a major trend, both in practice and in scholarly work, is a move away from an idealized convergence around a set of unified global rules; instead, our conceptualizations and our practices of transnational business regulation increasingly demonstrate a concern for the adaptability of transnational rules to resilient and resistant contextual specificities. Another important trend, both in practice and in scholarly fields, is a growing focus on the complex dynamics between rule making on the one hand and rule implementation and monitoring on the other.

Regulations that govern the social and environmental impacts of global firms and markets without state enforcement are a relatively new dimension of global business regulation. The growth of such voluntary "civil regulations" reflects both the expansion of legitimate authority in the global economy outside the state and the increasing use of alternative regulatory instruments to govern firms, including self-regulation, market-based instruments, and soft laws. In response to global social activism, many firms have adopted voluntary regulatory standards to avoid additional regulation and/or to protect their reputations and brands. Activists have targeted highly visible firms and have been willing to work cooperatively with them. The most important civil regulations are multi-stockholder codes, whose governance is shared by firms and nongovernmental organizations (NGOs), and which rely on product and producer certifications. Such codes face the challenge of acquiring legitimacy and of persuading both firms and NGOs of the value of their standards. The emergence of civil regulation addresses but does not resolve the challenge of making global firms and markets more effectively and democratically governed.