This paper critically compares and evaluates regulationist and governance approaches to the transformation of the local state. It is prompted by the close connection often made between the transition from Fordism to post-Fordism and new forms of economic and political governance. The paper first reviews the conceptual background to current concerns with regulation and governance. It then considers the basic (meta-) theoretical assumptions and core concepts of the two paradigms and identifies parallels and convergences and well as some important differences in theoretical or substantive focus. Attention then shifts to posible conflicts or tensions between regulation and governance as axes of crisis-management and crisis-resolution in local economies and states. The paper notes some problems in attempts to combine concepts and arguments relating to governance and regulation and highlights the importance of the organization of inter-organizational relations in resolving regulation and governance problems. It concludes with suggestions for subsequent research on these issues.
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