Bank power and public policy since the financial crisis

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Bank power and public policy since the financial crisis. / Macartney, Huw; Howarth, David; James, Scott.

In: Business and Politics, 21.11.2019.

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@article{9e84d7391c09422a8616f06d459a67b4,
title = "Bank power and public policy since the financial crisis",
abstract = "Despite much commentary in the media and the popular assumption thatthe banking industry exerts undue influence, the academic literature onthe role of the banks since the crisis remains theoretically andempirically under-specified. In particular, we argue that different formsof bank power are often conflated, while favourable policy outcomes aretoo-readily assumed to be evidence of regulatory capture. In short, westill know relatively little about how bank influence varies over time andbetween different national contexts, the extent to which bankinginterests are unified or divided, and the conditions under which banksare capable of producing meaningful variation in policy outcomes. Thisarticle has three objectives: 1) to explain why the debate on bankinfluence matters; 2) to examine the evidence of bank influence sincethe financial crisis; and 3) to set out a range of conceptual tools forthinking about bank power. ",
keywords = "bank power, financial crisis, public policy, financial regulation, interest groups",
author = "Huw Macartney and David Howarth and Scott James",
year = "2019",
month = nov,
day = "21",
language = "English",
journal = "Business and Politics",
issn = "1369-5258",
publisher = "De Gruyter",

}

RIS

TY - JOUR

T1 - Bank power and public policy since the financial crisis

AU - Macartney, Huw

AU - Howarth, David

AU - James, Scott

PY - 2019/11/21

Y1 - 2019/11/21

N2 - Despite much commentary in the media and the popular assumption thatthe banking industry exerts undue influence, the academic literature onthe role of the banks since the crisis remains theoretically andempirically under-specified. In particular, we argue that different formsof bank power are often conflated, while favourable policy outcomes aretoo-readily assumed to be evidence of regulatory capture. In short, westill know relatively little about how bank influence varies over time andbetween different national contexts, the extent to which bankinginterests are unified or divided, and the conditions under which banksare capable of producing meaningful variation in policy outcomes. Thisarticle has three objectives: 1) to explain why the debate on bankinfluence matters; 2) to examine the evidence of bank influence sincethe financial crisis; and 3) to set out a range of conceptual tools forthinking about bank power.

AB - Despite much commentary in the media and the popular assumption thatthe banking industry exerts undue influence, the academic literature onthe role of the banks since the crisis remains theoretically andempirically under-specified. In particular, we argue that different formsof bank power are often conflated, while favourable policy outcomes aretoo-readily assumed to be evidence of regulatory capture. In short, westill know relatively little about how bank influence varies over time andbetween different national contexts, the extent to which bankinginterests are unified or divided, and the conditions under which banksare capable of producing meaningful variation in policy outcomes. Thisarticle has three objectives: 1) to explain why the debate on bankinfluence matters; 2) to examine the evidence of bank influence sincethe financial crisis; and 3) to set out a range of conceptual tools forthinking about bank power.

KW - bank power

KW - financial crisis

KW - public policy

KW - financial regulation

KW - interest groups

M3 - Article

JO - Business and Politics

JF - Business and Politics

SN - 1369-5258

ER -