Suchergebnisse

Policy processes in transnational settings are shaped by actors whose approval and consent are required for reform to take place. These 'transnational veto players' frame and delimit policy options. The concept of 'transnational veto players' is developed through an empirical analysis of global reforms in the regulatory treatment of large financial institutions deemed 'too big to fail'. Actors debating and developing policy on 'too big to fail' may have formal defined constituencies, as regulators, academics or lobbying organisations, but in their transnational interactions they are also informed by a diffuse constituency of peers through their multiple associations within policy communities. These interactions determine which policy ideas are permissible and how they are adopted. The 'too big to fail' case shows how reform activity to curtail the risks posed by large financial institutions may also inadvertently strengthen their position as transnational veto players. Adapted from the source document.

An essay in a special journal section on 'Fields of Global Governance: How Transnational Power Elites Can Make Global Governance Intelligible'. Adapted from the source document.

AbstractThough the list of reforms following the onset of the financial crisis is long, we should resist the temptation to view the emerging regulatory framework in terms of a paradigm shift. Many key features of the system, including the privileged position of financial institutions, remain unchanged. This is not merely due to obstruction or capacity shortcomings but can be explained by considering the sources of ideas and the governance setting. Ideas and policy programmes for reform were generated by a policy community also responsible for shaping the pre‐crisis governance framework. Moreover, the ideas and preferences of these players are moulded by their transnational interactions and the club‐like mechanisms in place for determining what (and who) is to be included in discussions. These settings have produced policy programmes that helped address the immediate, 'fast‐burning' elements of the crisis, but have so far failed to put together a comprehensive reform programme.

Fields of Global Governance: How Transnational Power Elites Can Make Global Governance Intelligible (pages 324-330) Niilo Kauppi and Mikael R. Madsen. - Knowledge Warfare: Social Scientists as Operators of Global Governance (pages 330-332) Niilo Kauppi. - The International Judiciary as Transnational Power Elite (pages 332-334) Mikael R. Madsen. - Identity Switching and Transnational Professionals (pages 335-337) Leonard Seabrooke. - The International Civil Servant (pages 338-340) Ole Jacob Sending. - Power Elites and Club-Model Governance in Global Finance (pages 340-342) Eleni Tsingou