Victims of their own success abroad? Why the withdrawal of US transparency rules is hindered by diffusion to the EU and Canada

Dados Bibliográficos

ID6289316
AutoresBjorn Kleizen (0000-0002-3818-682X, University of Antwerp, autor correspondente)
Ano2019
Volume26
Fascículo3
Páginas446-467
Data de publicação2019-03-04
Peer ReviewedSim
Open AccessNão
TipoARTICLE
PeriódicoJournal of European Public Policy (JOURNAL)
Identificadores do periódicoISSN: 1350-1763 • E-ISSN: 1466-4429
EditoraInforma UK Limited (PUBLISHER • GB)
DOI10.1080/13501763.2018.1443490
OpenAlexW2790230392
IdiomaEN
Citações recebidas1
Referências citadas29

Recent years have seen significant efforts to reduce corruption in the oil, gas and mineral industries. Under the Obama administration, rules were adopted obliging stock-exchange-listed extraction companies to disclose payments to domestic and foreign governments, an initiative which soon spread to the European Union and Canada. Under Trump, however, policy preferences changed, and the disclosure requirements were withdrawn. This article investigates how diffusion of United States (US) disclosure rules has mitigated the effects of the withdrawal process through insights on norm diffusion, market power and rules applicable beyond states’ territorial borders. It is argued that when (1) rules with broad external applicability (2) diffuse to multiple influential jurisdictions and (3) address large multinationals in (4) an internationally interdependent sector, global standards of regulation may emerge. As these conditions are largely (although not entirely) fulfilled, it is likely that most large US multinationals will remain at least partially subject to payment disclosure obligations

Business · Economics · European union · Interdependence · International economics · International trade · Norm (philosophy · Payment · Political science · Stock (firearms · Transparency (behavior · International Arbitration and Investment Law · Law · Regulation and Compliance Studies · State Capitalism and Financial Governance · Accounting · Finance