Making Sense Out of the Global Approach of Competition Governance - An Analysis from Rationalist and Constructivist Approaches

This paper focuses on making sense out of the global approach of competition governance; it is based on the rationalist and constructivist literature of international relations theory. The rationalist argument explains its potential benefits by focusing on sovereignty and transaction costs, while the constructivist view highlights the shared perception of the common value of the consumer welfare objective, competition culture, and the contributory role of the global regulatory networks in the norm development process. It suggests that both perspectives may be useful in identifying and describing explanatory factors in the case study. These explanations are not mutually exclusive, and could open up a new diplomacy initiative