Tag Archives: regulation

The Growth of Shadow Banking and State-Finance Relations

Posted on August 15, 2019 by

by Matthias Thiemann* How can we understand the growth of a system of credit provisioning outside of the realm of bank regulation since the 1970s which linked non-banks and banks in a convoluted system of market-based banking, securitization and wholesale … Continue reading →

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Was Karl Polanyi wrong? Land, labor, and private authority in the global economy

Posted on May 26, 2018 by

by Tim Bartley* Karl Polanyi famously argued that land, labor, and money are “fictitious commodities.” They cannot be fully subjected to the dictates of the market without spurring backlashes that seek to re-embed them in society.  It is easy to … Continue reading →

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Corporate Governance — for the society and the environment

Posted on November 26, 2016 by

Our societies are all scarred by Milton Friedman’s creed that “the social responsibility of business is to increase its profits”; our economies are all wounded by corporations’ obsessive pursuit for short-term profit maximization; regrettably, we all pay the price of dodgy and excessive corporate … Continue reading →

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Fed with credit: financial “liberalization”, deregulation and the role of credit in Iceland’s collapse

Posted on August 19, 2015 by

Beginning in the 1990s, Iceland embarked on a major “liberalization” policy, privatizing its financial sector and reorganizing regulation. The resulting highly concentrated banking sector refocused on investment banking and international operations, while businesses, consumers and the finance industry itself borrowed … Continue reading →

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The political origins of the banking regulation and the international cooperation at the Federal Reserve and the European Central Bank

Posted on July 29, 2015 by

Neither the U.S. Federal Reserve nor the European Central Bank was created as a banking supervisory institution. Each has evolved into its current role, yet for different reasons. In “The Foundations Of Regulatory Convergence And Divergence Between The Federal Reserve And … Continue reading →

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Is ‘regulatory capture’ as powerful and unpreventable as the informed consensus suggests?

Posted on November 11, 2014 by

Regulatory capture happens when a regulatory agency, formed to act in the public’s interest, eventually acts in ways that benefit the industry it is supposed to be regulating, rather than the public. When regulations (or lack thereof) seem to detract … Continue reading →

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Why after three decades of economic reforms in Latin America labor laws remained rigidly protective and remarkably diverse?

Posted on October 29, 2014 by

Continuity Despite Change: The Politics of Labor Regulation in Latin America shows that after three decades of economic reforms labor laws have changed far less than many expected and remained both rigidly protective and remarkably diverse. Why? In this very … Continue reading →

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Why the Federal Reserve Failed to See the 2008 Financial Crisis: The Role of “Macroeconomics” as a Sensemaking and Cultural Frame

Posted on October 1, 2014 by

In this very interesting and enlightening paper by Neil Fligstein, Jonah Stuart Brundage & Michael Schultz (University of California, Berkeley), they tackle one of the puzzles about the crisis of 2008: why the regulators were so slow to recognize the … Continue reading →

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“Governance across Borders: Transnational Fields and Transversal Themes”

Posted on June 20, 2014 by

What is global and what is local in contemporary capitalism? What makes markets tick? How can we regulate finance? Who owns knowledge? What makes expertise? How can we protect the environment and fight poverty? Governance across Borders: Transnational Fields and … Continue reading →

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“Seeing, Knowing, and Regulating Financial Markets: Moving the Cognitive Framework from the Economic to the Social”

Posted on June 9, 2014 by

This (open access) interesing and comprehensive paper by Julia Black (LSE), argues that in order to regulate financial markets, we need a more sophisticated and realistic cognitive framework through which to analyse markets’ dynamics and on which to base their ‪regulation‬. To that … Continue reading →

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Congratulations to David Levi-Faur for receiving the Award for ‪Regulatory‬ Studies Development, by the European Consortium for Political Research Group on Regulatory Governance

Posted on June 2, 2014 by

David Levi-Faur (Hebrew University) is the first recipient of the Award for ‪Regulatory‬ Studies Development because of his successful efforts to create an academic regulatory governance community, as exemplified by his initiative to co-found the ECPR Standing Group on Regulation and … Continue reading →

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Financialization, New Investment Funds, and Labour: An International Comparison

Posted on May 30, 2014 by

Financialization, New Investment Funds, and Labour: An International Comparison provides a comprehensive analysis of the development of New Investment Funds —private equity, hedge funds, and sovereign wealth funds—and their impact upon labour and employment. Several countries are selected for in-depth treatment: US, UK, … Continue reading →

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How much did internationally promoted ideas about supervisory ‘best practice’ influence institutional design choices?

Posted on April 17, 2014 by

Who is watching the finance industry? There have been multiple waves of thought about whether the ministry of finance, the central bank, a specialized regulator or some combination of these should have supervisory authority. These waves have been associated with the convergence … Continue reading →

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“Bank Behaviour and Resilience: the Effect of Structures, Institutions and Agents” challenges conventional thinking about the varieties of capitalism

Posted on April 5, 2014 by

Why were banking sectors in ‘liberal’ and ‘coordinated’ market economies with similar financial systems, operating under the same set of global rules, more resilient than others during the Global Financial Crisis? Building on the rich body of knowledge in institutional analysis and … Continue reading →

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Why are banking systems unstable in some countries–but not in others? Since 1840, the US had 12 crises; Canada had none.

Posted on March 20, 2014 by

Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, “Fragile by Design” (Free access to the First chapter) demonstrates that chronic banking crises and scarce credit are not accidents … Continue reading →

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