The UK and Multi-level Financial Regulation examines the role of the United Kingdom (UK) in shaping post-crisis financial regulatory reform, and assesses the implications of the UK's withdrawal from the European Union (EU). It develops a domestic political economy approach to examine how the interaction of three domestic groups - elected officials, financial regulators, and the financial industry - shaped UK preferences, strategy, and influence in international and EU-level regulatory negotiations. The framework is applied to five case studies: bank capital and liquidity requirements; bank recovery and resolution rules; bank structural reforms; hedge fund regulation; and the regulation of over-the-counter derivatives. It concludes by reflecting on the future of UK financial regulation after Brexit. The book argues that UK regulators pursued more stringent regulation when they had strong political support to resist financial industry lobbying. UK regulators promoted international harmonisation of rules when this protected the competitiveness of industry or enabled cross-border externalities to be managed more effectively; but were often more resistant to new EU rules when these threatened UK interests. Consequently, the UK was more successful at shaping international standards by leveraging its market power, regulatory capacity, and alliance building (with the US). But it often met with greater political resistance at the EU level, forcing it to use legal challenges to block reform or secure exemptions. The book concludes that political and regulatory pressure was pivotal in defining the UK's 'hard' Brexit position, and so the future UK-EU relationship in finance will most likely be based on a framework of regulatory equivalence.
Les mer
The book examines the role of the United Kingdom in shaping the reform of financial regulation since the global financial crisis, and assesses the implications of the UK's withdrawal from the European Union.
Les mer
1: INTRODUCTION 2: STATE OF THE ART AND RESEARCH DESIGN 3: SETTING THE MULTI-LEVEL CONTEXT 4: BANK CAPITAL AND LIQUIDITY REQUIREMENTS 5: BANK RECOVERY AND RESOLUTION RULES 6: BANK STRUCTURAL REFORMS 7: REGULATION OF HEDGE FUNDS 8: REGULATION OF OVER-THE-COUNTER DERIVATIVES 9: BREXIT AND THE FUTURE UK-EU RELATIONSHIP 10: CONCLUSION
Les mer
Scott James and Lucia Quaglia do an outstanding job.
Provides a comprehensive and systematic analysis of UK, EU, and international regulation across a variety of financial services Based on extensive fieldwork, including over sixty in-depth interviews with senior policy-makers, regulators, and financial industry representatives conducted between 2012 and 2019 Develops a new 'domestic political economy' theoretical framework, contributing significantly to the existing comparative/international political economy literatures Provides a comprehensive overview of the UK and EU positions on finance during the Brexit negotiations, and the first assessment of the likely future UK-EU relationship in this area
Les mer
Dr Scott James joined King's College London in September 2008, and served as Deputy Head of the Department of Political Economy from 2015-16. From 2012 to 2016, he was Principal Investigator on the ESRC-funded 'Voices in the City' project, and since 2016 has been part of the UK research team for the nine-country Horizon 2020 'EMU Choices' project. In 2017 Dr James held a visiting position at the Blavatnik School of Government, University of Oxford. Dr James has published 14 articles in leading international journals, a monograph with Manchester University Press, and several book chapters with Palgrave Macmillan. Lucia Quaglia is a Professor of Political Science at the University of Bologna (IT). She was professor of Political Science at the University of York (2012-2017) (UK). She was awarded research fellowships by the Hanse-Wissenschafts Kolleg (DE), the University of Bremen (DE), the Fonds National de la Recherche (Luxembourg), the Max Planck Institute in Cologne (DE), the Scuola Normale Superiore (IT), and the European University Institute (IT). She has published 7 books, 4 of which with Oxford University Press. She has guest co-edited 4 special issues of highly ranked academic journals.
Les mer
Provides a comprehensive and systematic analysis of UK, EU, and international regulation across a variety of financial services Based on extensive fieldwork, including over sixty in-depth interviews with senior policy-makers, regulators, and financial industry representatives conducted between 2012 and 2019 Develops a new 'domestic political economy' theoretical framework, contributing significantly to the existing comparative/international political economy literatures Provides a comprehensive overview of the UK and EU positions on finance during the Brexit negotiations, and the first assessment of the likely future UK-EU relationship in this area
Les mer

Produktdetaljer

ISBN
9780198828952
Publisert
2020
Utgiver
Vendor
Oxford University Press
Vekt
494 gr
Høyde
230 mm
Bredde
160 mm
Dybde
18 mm
Aldersnivå
P, 06
Språk
Product language
Engelsk
Format
Product format
Innbundet
Antall sider
240

Om bidragsyterne

Dr Scott James joined King's College London in September 2008, and served as Deputy Head of the Department of Political Economy from 2015-16. From 2012 to 2016, he was Principal Investigator on the ESRC-funded 'Voices in the City' project, and since 2016 has been part of the UK research team for the nine-country Horizon 2020 'EMU Choices' project. In 2017 Dr James held a visiting position at the Blavatnik School of Government, University of Oxford. Dr James has published 14 articles in leading international journals, a monograph with Manchester University Press, and several book chapters with Palgrave Macmillan. Lucia Quaglia is a Professor of Political Science at the University of Bologna (IT). She was professor of Political Science at the University of York (2012-2017) (UK). She was awarded research fellowships by the Hanse-Wissenschafts Kolleg (DE), the University of Bremen (DE), the Fonds National de la Recherche (Luxembourg), the Max Planck Institute in Cologne (DE), the Scuola Normale Superiore (IT), and the European University Institute (IT). She has published 7 books, 4 of which with Oxford University Press. She has guest co-edited 4 special issues of highly ranked academic journals.