REGIONAL INSTITUTIONS IN AN ERA OF GLOBALIZATION AND CRISIS: ASIA IN COMPARATIVE CONTEXT.

Although new and strengthened regional institutions have emerged in most regions of the global economy, institutional variation has persisted. The key dimensions of institutional variation considered here are decision rules; commitment devices, such as legalization and enfranchisement; and membership rules, which influence the success of both deepening and widening regional institutions. On these dimensions, Asian regional institutions share a common institutional design: consensus decision rules; limited delegation of authority from national governments; refusal to enfranchise non-state actors; and adoption of convoy membership rules. In addition, economics and security are not linked institutionally. Comparisons to Europe and Latin America offer explanations for the distinctiveness of Asian regional institutions. Regional characteristics-greater heterogeneity; strategic rivalries; and openness to external influence-have reinforced the existing institutional model. Dynamics of regional politics and economic integration have also contributed: peace building and economic collaboration are not linked, and demands for liberalization have been largely satisfied by unilateral measures and global commitments. Neither sovereignty costs nor the effectiveness of existing Asian institutions is a convincing explanation for Asia's distinctiveness. The likeliest route to a new model of Asian regional institutions is a calculation that the agenda of deeper integratio-creating an Asian common market- is essential to economic growth (and political survival) and that deeper integration in turn requires new regional institutions. [ABSTRACT FROM AUTHOR]