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The meltdown of a financial system, for instance, may be regarded as a failure of regulatory instrument choice and de Institutional theories (of different ilks) tend to agree that institutional structures and arrangements, as well as social processes Another possible cause of failure that different institutionalists might note is the overlapping of different organizational understandings and Problems of over- and under-regulation are often associate Looking across these three widely advocated «solutions» to regulatory failure suggests that any remedy is associated with inherent trade-of