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There are two assumptions regarding regulatory instruments under the globalizing economy. These are: increasing role of private standards in shaping the economic activities of developing countries; and diminishing role of national institutions in "Open" and "Liberal" markets. In other words it was considered that global private standards would eventually replace already weak or absent national and local institutions in developing countries. The purpose of the authors' paper is to suggest an alternative interpretation to this widely held view about national regulations and institutions in developing countries under the 'New standard regime' in the food and agricultural sector where the regulatory framework is traditionally stronger at national level.
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