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Politically Robust Financial Regulation

2021-01-08 Business & Economics
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Release : 2021-01-08
Genre : Business & Economics
Kind : eBook
Book Rating : 377/5 ( reviews)

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Book Synopsis Politically Robust Financial Regulation by : Mr.Itai Agur

Download or read book Politically Robust Financial Regulation written by Mr.Itai Agur. This book was released on 2021-01-08. Available in PDF, EPUB and Kindle. Book excerpt: The deferred recognition of COVID-induced losses at banks in many countries has reignited the debate on regulatory forbearance. This paper presents a model where the public's own political pressure drives regulatory policy astray, because the public is poorly informed. Using probabilistic game stages, the model parameterizes how time consistent policy is. The interaction between political motivations and time consistency is novel and complex: increased policy credibility can entice the politically-motivated regulator to act in the public's best interest, or instead repel it from doing so. Considering several regulatory instruments, the paper probes the nexus of political pressure, perverse bank incentives and time inconsistent policy.

The Political Economy of Financial Regulation

2019-01-31 Law
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Release : 2019-01-31
Genre : Law
Kind : eBook
Book Rating : 403/5 ( reviews)

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Book Synopsis The Political Economy of Financial Regulation by : Emilios Avgouleas

Download or read book The Political Economy of Financial Regulation written by Emilios Avgouleas. This book was released on 2019-01-31. Available in PDF, EPUB and Kindle. Book excerpt: This collection of cutting-edge scholarship examines the law and policy of financial regulation using a combination of conceptual analysis and strong empirical research. The book's authors range from global leaders to rising stars in the field, all of whom shed light on complex questions of financial sector regulation theory and practice in key economies ranging from the EU to China. Key topics include the role of law in constituting financial markets, the efficiency of markets, the role of interest groups in shaping financial regulation, the interdependence and interactions of international financial regulation with international trade and monetary regimes, and problems of regulation in state capitalism economies. This exciting volume opens the road for further enrichment of the academic and policy-making dialogue on financial regulation and regulatory practice, and reflects new trends in legal and social-science scholarship.

Beyond Legal Origin and Checks and Balances

2007 Bank Balance Sheets
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Release : 2007
Genre : Bank Balance Sheets
Kind : eBook
Book Rating : 045/5 ( reviews)

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Book Synopsis Beyond Legal Origin and Checks and Balances by : Philip Keefer

Download or read book Beyond Legal Origin and Checks and Balances written by Philip Keefer. This book was released on 2007. Available in PDF, EPUB and Kindle. Book excerpt: The existing literature emphasizes and contrasts the role of political checks and balances and legal origin in determining the pace of financial sector development. This paper expands substantially on one aspect of this debate: the fact that government actions that promote financial sector development, whether prudent financial regulation or secure property and contract rights, are public goods and sensitive to political incentives to provide public goods. Tests of hypotheses emanating from this argument yield four new conclusions. First, two key determinants of those incentives-the credibility of pre-electoral political promises and citizen information about politician decisions-systematically promote financial sector development. Second, these political factors, along with political checks and balances, operate in part through their influence on the security of property rights, an argument asserted but not previously tested. Third, contrary to findings elsewhere in the literature, the political determinants of financial sector development are significant even in the presence of controls for legal origin. Finally, and again in contrast to the literature, the evidence here suggests that legal origin primarily proxies for political phenomena. Legal origin is a largely insignificant determinant of financial sector development when those phenomena are fully taken into account.

The Handbook of the Political Economy of Financial Crises

2013-01-07 Business & Economics
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Release : 2013-01-07
Genre : Business & Economics
Kind : eBook
Book Rating : 077/5 ( reviews)

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Book Synopsis The Handbook of the Political Economy of Financial Crises by : Martin H. Wolfson

Download or read book The Handbook of the Political Economy of Financial Crises written by Martin H. Wolfson. This book was released on 2013-01-07. Available in PDF, EPUB and Kindle. Book excerpt: The Great Financial Crisis that began in 2007 reminds us with devastating force that financial instability and crises are endemic to capitalist economies, and that it is only strong and dynamically-changing financial regulations that can keep the damage caused by these crises within bounds. The international financial system and individual national economies, including that of the United States, are suffering from the aftermath of the worst financial crisis since the Great Depression. Economists are struggling to understand the origins and implications of the crisis. The Handbook of the Political Economy of Financial Crises uses a political economy theoretical framework to analyze the crisis. After an opening chapter that describes the dimensions of the current crisis, the next section provides relevant theoretical frameworks. Subsequent sections apply these theoretical frameworks to analyze the background, dimensions, and implications of the crisis for the world economy. Leading scholars push forward our understanding of how and why our international and domestic economies are susceptible to financial breakdown and what can be done to mitigate this problem in the future. The methodology throughout applies theoretical concepts in the context of an historical and institutional understanding of the real world. By emphasizing the historical and institutional aspects of financial crises, the authors advance economic knowledge and provide insights into how we can manage our financial system to improve the lives of ordinary people.

The Political Economy of Bank Regulation in Developing Countries

2020 Political Science
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Release : 2020
Genre : Political Science
Kind : eBook
Book Rating : 99X/5 ( reviews)

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Book Synopsis The Political Economy of Bank Regulation in Developing Countries by : Emily Jones

Download or read book The Political Economy of Bank Regulation in Developing Countries written by Emily Jones. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations.International banking standards are intended for the regulation of large, complex, risk-taking international banks with trillions of dollars in assets and operations across the globe. Yet they are being implemented in countries with nascent financial markets and small banks that have yet to ventureinto international markets. Why is this? This book develops a new framework to explain regulatory interdependence between countries in the core and the periphery of the global financial system. Drawing on in-depth analysis of eleven countries across Africa, Asia, and Latin America, it shows howfinancial globalisation generates strong reputational and competitive incentives for developing countries to converge on international standards. It explains how specific cross-border relations between regulators, politicians, and banks within developing countries, and international actors includinginvestors, peer regulators, and international financial institutions, generate regulatory interdependence. It explains why some configurations of domestic politics and forms of integration into global finance generate convergence with international standards, while other configurations lead todivergence. This book contributes to our understanding of the ways in which governments and firms in the core of global finance powerfully shape regulatory decisions in the periphery, and the ways that governments and firms from peripheral developing countries manoeuvre within the constraints andopportunities created by financial globalisation.

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