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Financial Regulation Debates in Hard Times: A Comparative Analysis of Insider and Outsider Pressure during the Global Financial Crisis
Journal of Comparative Policy Analysis: Research and Practice ( IF 2.126 ) Pub Date : 2020-12-20 , DOI: 10.1080/13876988.2020.1859931
Roy Gava 1 , Oriol Sabaté 2 , Laura Morales 3
Affiliation  

Abstract

This article analyses the nature of policy debates on financial regulation during the onset of the Global Financial Crisis (GFC) by considering three elements that shape them: the salience of the debate, the actors that dominate the debate, and the degree of anti-status quo pressure. Theoretically, it contributes to Culpepper’s quiet/noisy politics framework by clarifying its multidimensionality and explicitly introducing the degree of contestation. Empirically, it focuses on two regulatory issues: (1) the restriction of banking and financial activities and (2) the debate on the remuneration of bankers. The data captures political claims during the first 12 months of the GFC and covers 19 established democracies. The findings indicate that policy debates were unevenly politicized across countries and issues, and that structural factors are not enough to account for the observed variation in pressure for reform for all types of actors, thus constituting a puzzle for further research.



中文翻译:

艰难时期的金融监管辩论:全球金融危机期间内外部压力的比较分析

摘要

本文分析了全球金融危机 (GFC) 爆发期间有关金融监管的政策辩论的性质,考虑了塑造这些辩论的三个要素:辩论的重要性、主导辩论的参与者以及反地位的程度现状压力。从理论上讲,它通过阐明其多维性并明确引入竞争程度,有助于 Culpepper 的安静/嘈杂的政治框架。从经验上看,它侧重于两个监管问题:(1)对银行和金融活动的限制;(2)关于银行家薪酬的争论。这些数据收集了全球金融危机前 12 个月的政治主张,涵盖了 19 个成熟的民主国家。调查结果表明,不同国家和问题的政策辩论政治化程度不均,

更新日期:2020-12-20
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