|Since the 1980s several economic sectors based on network structures (telecommunications, electricity, railways) have been liberalised. In these markets the role of the state has changed from a monopolistic provider of products and services to a regulatory authority deemed to ensure that new market entrants get a chance to compete against the former state-owned incumbent and that the market forces provide a satisfying level of services for reasonable prices. In telecommunications this transformation has proved to be quite successful. The paper looks at the institutional factors that support this development. It states that in the telecommunications sector a transnational regulatory regime has evolved in which the capacity to govern a liberalised market is based on different forms of transgovernmental interactions which are “activated” by private actors.
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