Reference : Bank power and public policy since the financial crisis
Scientific journals : Article
Law, criminology & political science : Political science, public administration & international relations
Bank power and public policy since the financial crisis
Howarth, David mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Identités, Politiques, Sociétés, Espaces (IPSE) >]
James, Scott mailto [King's College London > Political Economy]
Macartney, Huw mailto [University of Birmingham > Political Science]
Business and Politics
Cambridge University Press
Ten Years of Regulatory Reform Since the International Financial Crisis: Understanding Bank Influence in the European and International Context
Yes (verified by ORBilu)
United Kingdom
[en] banks ; public policy ; financial regulation ; interest groups ; financial crisis ; regulatory capture
[en] Despite much commentary in the media and the popular assumption that the banking industry exerts undue influence on government policy-making, the academic literature on the role of the banks since the 2008 financial crisis remains theoretically and empirically under-specified. In particular, we argue that different forms of financial power are often conflated, while favorable policy outcomes are too-readily assumed to be evidence of regulatory capture. In short, we still know relatively little about how bank influence varies over time and in different national contexts, the extent to which banking interests are unified or divided, and the conditions under which banks are capable of producing meaningful variation in policy outcomes. This article has three objectives: 1) to explain why the debate on bank influence matters; 2) to examine the evidence of bank influence since the international financial crisis; and 3) to set out a range of conceptual tools for thinking about bank power.
Researchers ; Professionals ; Students ; General public

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