Transnational economic activism and private regulatory power

ABSTRACT Private bodies involved in global regulatory governance shape and monitor economic behaviour. Their power has greatly increased over the last several decades. Thanks to an impressive apparatus of standard-setting, they have transformed activity. The dominance private standard-setting continued despite crises which themselves contributed. Existing literature suggests that State ‘orchestrates’ activity, thereby retaining a high level control. Yet, this article shows opposite occurred: crises, broadly defined as disruptive events, make more resilient or generate new transnational ones. lack control ushered era authority. use opportunities reorganize become assertive norm-creation, overriding substituting powers. Free from organizational hierarchies, formal accountability structures, scrutiny, pressure, obligations, expand their domain, enhance collective memory identity, grow stronger through crises. Future empirical work on interaction between public supervisory authorities rule-makers can difference ensuring rule-making serves interest.