Transnational policy networks and regional public goods in Latin America

Abstract

This chapter argues that a particular and distinctive driver for regionalism has been emerging in Latin America. It develops a conceptual framework for the analysis of transnational regulatory networks in regional environments. The myriad nonhierarchical policy network-based mode of regional integration has been firmly on the rise over the last three decades, and has become capable of providing some level of regional public goods (RPGs), while also contributing to many successful processes of policy diffusion in the region. The chapter focuses on the governance of regulation at the regional level by means of networks, as an example of public good provision, to exemplify and develop the arguments. It explores some of the reasons behind the weakness of regulatory networks in providing RPGs, while recognizing their contributions to a basic level of provision. The chapter examines regional policy networks in banking in Latin America as an example of a regulatory context in which there are multiple global governance shortcomings.