Global Governance

Abstract

Global governance is the purposeful order that emerges from institutions, processes, norms, formal agreements, and informal mechanisms that regulate action for the common good. Global governance encompasses activities that transcend national boundaries at the international, transnational, and regional levels and is based on rights and rules that are enforced through a combination of economic and moral incentives. Mechanisms of global governance are composed of elements and methods from both the public and private sectors. These elements include agreed upon standards, evolving norms based on shared values, and directives issued by private authorities and ultimately enforced by states. Methods of global governance include harmonization of laws among states, international regimes, global policy issue networks, and hybrid institutions that combine functions of state agencies and private sector organizations.