From National Administrative Law to Globalisation: Economic Crisis, Governance
and Regulated Self-Regulation
In the present time of a global economic and financial crisis, both the withdrawal of the State from vast economic areas and its replacement by the self-regulating market have had a significant impact on Spanish Administrative Law. Accordingly, an intervention of public authorities as well as harsher regulation and an effective model of market supervision are to be requested so that trust in the system can be regained. However, this intervention should not only happen through national agencies but also through global bodies. In this context, the principle of cooperation is crucial in order to articulate the relationship between the new global administrative bodies and the existing ones (supranational, State, regional and local Administrations). We believe that a global regulation should consider a necessary compromise between the market and the government, between self-regulation and public regulation, all that in order to ensure that the economy goes on safely. Hence, the principles of regulated self-regulation (“autorregulación regulada”) are of particular significance: with their implementation the State does not renounce intervention in the society. Moreover, public interest can be safeguarded through them in a more effective manner than traditional instruments of intervention would allow.