Relational dynamics under close supervision: Examining transnational cooperation in regulatory oversight

The increasing institutionalization of regulatory oversight worldwide has not resulted in the creation of numerous formal channels of transnational regulatory oversight cooperation. Despite its puzzling nature, this circumstance has barely attracted scholarly attention. Additionally, the study of cooperation across transgovernmental regulatory networks with actors having low autonomy from central governments remains under‐researched. We fill these literature gaps by applying insights from the policy networks literature to identify drivers of transnational regulatory oversight cooperation. Combining Exponential Random Graph Models with semi‐structured interviews, we show that commonalities in administrative traditions drive cooperation. Innovative bodies become sources of best practices. Conversely, exchanges between countries with similar regulatory oversight settings or preferences are rare, perhaps due to their low independence from their political principals. These results suggest that regulatory oversight actors use relational opportunities and general country features as cues for transnational cooperation, instead of adopting strategic partnerships with better matches.