Banking regulation and globalization:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
New York [u.a.]
Oxford Univ. Press
2009
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references and index |
| Physical Description: | X, 282 S. graph. Darst. |
| ISBN: | 9780199218813 |
Staff View
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| 100 | 1 | |a Busch, Andreas |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Banking regulation and globalization |c Andreas Busch |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a New York [u.a.] |b Oxford Univ. Press |c 2009 | |
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| 650 | 4 | |a Banks and banking - State supervision | |
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Record in the Search Index
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| adam_text | Titel: Banking regulation and globalization
Autor: Busch, Andreas
Jahr: 2009
Contents
Foreword ix
List of Figures xi
List of Tables xi
1. Introduction: Globalization and State Capacity 1
1.1. The Central Question 5
1.2. Theoretical Approaches 7
1.3. Theory and Reality 11
1.4. The Design of the Study 12
1.5. The Plan of the Book 20
2. The State and the Regulation of the Banking Sector 23
2.1. Why the Banking Sector is Special 23
2.2. State Regulation of the Banking Sector 26
2.3. The Challenges of Last Three Decades 28
3. The United States: Deadlock Through Fragmentation 33
3.1. Historical Background 34
3.1.1. The Establishment of the Banking System 34
3.1.2. Development of State Regulation 37
3.1.3. The Political Context Until 1970 42
3.2. The Challenges 43
3.3. The Policy Network 45
3.3.1. The American Banking Industry 45
3.3.2. The Regulatory Agencies 49
3.3.3. The Legal Framework 55
3.4. The Battle for Reform 55
3.4.1. The First Phase of Deregulation 57
3.4.2. Legislative Deadlock and Administrative Action 59
3.4.3. Legislative Re-Regulation 64
3.4.4. Ratified Deregulation 66
3.5. Characteristics of the Policy Field 67
3.5.1. High Politicization 67
3.5.2. Confrontational and Legalistic Policy Approaches 68
3.5.3. Variety of Players 69
vi Contents
3.5 .4. Circumventing Deadlock at the Administrative
and Judicial Level 72
3.6. Summary: The American Case 72
4. The Federal Republic of Germany: Keeping the State at
Arm s Length 75
4.1. The Historical Background 76
4.1.1. The Establishment of the Banking System 76
4.1.2. The Emergence of State Regulation 82
4.1.3. Key Aspects of the Policy Field Until 1970 85
4.2. New Challenges Facing Bank Regulators 87
4.2.1. Liberalization and Depositor Protection 87
4.2.2. Left- and Right-Wing Critiques of the
Power of the Banks 89
4.3. The Policy Network 91
4.3.1. The German Banking Industry 91
4.3.2. The Regulatory Agencies 95
4.3.3. The Legal Framework 97
4.4. The Calm After the Storm: Continuity Rather than
Fundamental Change 99
4.4.1. The Herstatt Crisis and its Consequences 100
4.4.2. Gradual Europeanization: Further Amendments
totheKWG 111
4.5. Characteristics of the Policy Field 113
4.5.1. Integration and Consultation 113
4.5.2. Successful Policy-Outcomes 115
4.5.3. Ongoing Debate about the Power of the Banks 117
4.5.4. Institutional Continuity 118
4.6. Summary: The German Case 120
5. The United Kingdom: Late Codification, Early Reform 123
5.1. Historical Background 124
5.1.1. Creation of the Banking System 124
5.1.2. The Development of State Regulation 128
5.1.3. The Policy Field Until 1970 130
5.2. New Challenges for Bank Regulators 131
5.3. The Policy Network 133
5.3.1. The British Banking Industry 133
5.3.2. The Regulatory Agencies 135
5.3.3. The Legislative Process 139
Contents vii
5.4. The Interaction Between Crisis and Reform 141
5.4.1. The Secondary Banking Crisis and Codification 141
5.4.2. Johnson Matthey Bankers and Reform of the
Regulation System 146
5.4.3. BCCI and Barings Bank: Impulses for
Fundamental Reform 149
5.5. Characteristics of the Policy Field 156
5.5.1. Changes in the Style of Regulation 156
5.5.2. Reactive Policy-making 158
5.5.3. The Weak Role of Parliament 159
5.5.4. The Easy Implementation of Fundamental Reform 160
5.6. Summary: The British Case 160
6. Switzerland: High Risks, Joint Responsibilities 163
6.1. The Historical Background 164
6.1.1. Formation of the Banking System 164
6.1.2. The Development of State Regulation 169
6.1.3. The Policy Field Until 1970 175
6.2. New Challenges for Bank Regulators 176
6.3. The Policy Network 177
6.3.1. The Swiss Banking Industry 177
6.3.2. The Regulatory Agencies 185
6.3.3. The Legislative Framework 188
6.4. Liberal Consensus and Partial Politicization 190
6.4.1. The Chiasso Scandal and the Politicization of
Banking Issues 190
6.4.2. Banking Problems in the 1990s 200
6.5. Characteristics of the Policy Field 206
6.5.1. Consensual Approach 206
6.5.2. Strong Self-Regulation 208
6.5.3. Autonomous Convergence 208
6.5.4. Specific Domestic Problems 209
6.6. Summary: The Swiss Case 209
7. State and Banking Regulation in Comparative Perspective 213
7.1. Policy Networks in Comparison 213
7.1.1. Industry and Interest Groups 213
7.1.2. The Executive Branch 215
7.1.3. The Legislative Branch 216
7.1.4. The Need for Reform and Policy Outcomes 218
viii Contents
7.2. Political Systems in Comparison 219
7.3. Anglo-Saxon and Rhenish Capitalism in Comparison 224
8. Conclusion: National Institutions as Filters of Globalization 227
8.1. Convergence or Divergence? 228
8.2. History, Institutions, and Path Dependence 234
8.3. The Case of the Missing Model 238
8.4. Conclusion 241
Postscriptum: The 2007/8 Subprime Mortgage Crisis and
Banking Regulation 245
Bibliography 257
Index 279
List of Figures
1.1. Publications per year on globalization, 1985-2004 5
2.1. The liberalization of capital movements, 1973-95 29
2.2. Growth of cross-border bank credits and loans, 1972-92
(in bn. US dollars) 30
3.1. Conflict formation in the financial sector by the end of the
nineteenth century 42
3.2. Bank insolvencies per year, 1934-99 44
3.3. Overlapping jurisdiction in the regulation of different types of banks 54
4.1. External shocks and domestic reactions in banking regulation policy,
1973-99 112
8.1. Typology of possible policy outcomes 229
List of Tables
1.1. Political and economic characteristics of the countries covered 18
2.1. Costs of banking crises in per cent of GDP 31
3.1. Number of American retail banks, 1934-93 46
3.2. Indicators of American retail banks, 1979-94 47
3.3. US federal banking supervision agencies and their responsibilities 53
3.4. Selection of important American banking laws 58
4.1. Banking industry sectoral market share, 1957-97 92
6.1. Banking employment as share of total workforce (in per cent, 1994) 164
6.2. Market share of Swiss bank groups, 1880 167
6.3. Market share of Swiss banking sectors (by balance sheet), 1930-98
(in per cent) 178
6.4. Number of institutions in each banking sector, 1973-98 179
7.1. State banking regulation: The case studies in comparison 220
|
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| spelling | Busch, Andreas Verfasser aut Banking regulation and globalization Andreas Busch 1. publ. New York [u.a.] Oxford Univ. Press 2009 X, 282 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Banking law Banks and banking - State supervision Globalization Bank Globalisierung Banks and banking State supervision Kreditmarkt (DE-588)4073788-3 gnd rswk-swf Regulierung (DE-588)4201190-5 gnd rswk-swf Internationaler Vergleich (DE-588)4120509-1 gnd rswk-swf Globalisierung (DE-588)4557997-0 gnd rswk-swf Bankrecht (DE-588)4004473-7 gnd rswk-swf Bankrecht (DE-588)4004473-7 s Globalisierung (DE-588)4557997-0 s Internationaler Vergleich (DE-588)4120509-1 s DE-604 Kreditmarkt (DE-588)4073788-3 s Regulierung (DE-588)4201190-5 s HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017082762&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Busch, Andreas Banking regulation and globalization Banking law Banks and banking - State supervision Globalization Bank Globalisierung Banks and banking State supervision Kreditmarkt (DE-588)4073788-3 gnd Regulierung (DE-588)4201190-5 gnd Internationaler Vergleich (DE-588)4120509-1 gnd Globalisierung (DE-588)4557997-0 gnd Bankrecht (DE-588)4004473-7 gnd |
| subject_GND | (DE-588)4073788-3 (DE-588)4201190-5 (DE-588)4120509-1 (DE-588)4557997-0 (DE-588)4004473-7 |
| title | Banking regulation and globalization |
| title_auth | Banking regulation and globalization |
| title_exact_search | Banking regulation and globalization |
| title_full | Banking regulation and globalization Andreas Busch |
| title_fullStr | Banking regulation and globalization Andreas Busch |
| title_full_unstemmed | Banking regulation and globalization Andreas Busch |
| title_short | Banking regulation and globalization |
| title_sort | banking regulation and globalization |
| topic | Banking law Banks and banking - State supervision Globalization Bank Globalisierung Banks and banking State supervision Kreditmarkt (DE-588)4073788-3 gnd Regulierung (DE-588)4201190-5 gnd Internationaler Vergleich (DE-588)4120509-1 gnd Globalisierung (DE-588)4557997-0 gnd Bankrecht (DE-588)4004473-7 gnd |
| topic_facet | Banking law Banks and banking - State supervision Globalization Bank Globalisierung Banks and banking State supervision Kreditmarkt Regulierung Internationaler Vergleich Bankrecht |
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