Law and globalization

Abstract

The aim of this study was to examine global regulatory governance and its impact on legal and economic development. This study was normative legal research using primary and secondary legal materials. The technique of collecting legal materials used was literature study and processed by deduction. Furthermore, it was analyzed qualitatively. The results of the study indicated that global regulatory governance was basically sovereignty. Global regulatory governance appeared as a milestone that had a positive impact on the development of Indonesian law, namely the simplification of existing regulations to build a good regulatory management system. The existing ones are effective in addressing policy issues, and were kept as intended. Besides, global regulatory governance also had a positive impact on the Indonesian economy. Thus, global regulatory governance through the Omnibus Law, licensing investment to Indonesia will be faster and easier and the economy is expected to turn around soon. Rapid investment will also encourage the growth of small, micro, and medium enterprises to absorb labor. That way the Indonesian economy after the Covid-19 pandemic will return to stability.