ABSTRACT
Deregulation has become a major cross-nation trend in the post-Bretton Woods era. The transformation from the welfare-state to the competition-state has resulted in a shift to micro-economic concerns reflected in deregulation, the search for competitive advantage and established partnerships with the private sector. Globalization, openness and competition have reduced staterepresentatives’ (regulators’) power to control fast-changing events. A multi tiered interactive system of regulatory competition shows regulators as being susceptible to newly surmounting pressures exerted by a set of ‘mobile’ actors. Capture arising from the proportional interests of players is desirable. If unchecked, regulatory competition in open market economies can result in either lax or escalating rules. The cutting edge for competing regulators is to draw a balance between both trends with an eye on the game’s potential hazards. I.
