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Industrial crisis and the open economy: politics, global trade and the textile industry in the advanced economies
In: International political economy series
The new world order in international finance
In: International political economy series
The Emerging Post-Crisis Financial Architecture: The Path-Dependency of Ideational Adverse Selection
In: The British journal of politics & international relations: BJPIR, Band 17, Heft 3, S. 461-493
ISSN: 1467-856X
Research Highlights and Abstract This article Contributes to the debate on policy change and economic ideas after the crisis, finding ideas and material interests to be closely aligned and introducing the notion of 'ideational adverse selection'. Establishes that pre-crisis financial governance failed to provide financial stability yet provided benefits to precisely those whose advocacy underpinned its emergence. Argues that despite the adoption of a 'macroprudential approach', the post-crisis reform of financial governance promulgated by the Basel Commitee and IOSCO does not (yet) admit of a 'paradigm shift'. Concludes that if ideational change and a shift in policy approach is to take place, the nature of the policy community as 'input' must also change. This article focuses on two cases of transnational financial governance that confirm that ideas and material interests are closely aligned in the construction of regulatory institutions at the international level: the Basel-II/III international capital adequacy standards and the IOSCO-based regulatory processes that underpin cross-border securities markets. The article first establishes that the pre-crisis system of financial regulation and supervision left public authorities dependent on private sector expertise and information provision such that policy idea-sets became increasingly aligned with private sector preferences. Secondly, this market-based system of financial governance provided benefits to precisely those whose advocacy underpinned its emergence while facilitating neither financial stability nor resolving the weaknesses of national-level governance in a context of cross-border integration. Lastly, it remains unclear if either pre-crisis alternatives or the lessons of the crisis itself have been applied properly to the reforms. The reform debate continues to pursue an essentially market-based approach to the problem of financial governance at the national, regional and global levels. Policy failure endogenous to a pre-crisis regulatory coalition has so far failed to disturb the tenacity of material interests and inertia of institutional path dependency.
Deel 2 — Rubrieken - Essay: Van sprookjesverklaringen voor de eurocrisis naar reëel inzicht: Waaraan schort het werkelijk in de eurozone?
In: Res publica: politiek-wetenschappelijk tijdschrift van de Lage Landen ; driemaandelijks tijdschrift, Band 56, Heft 2, S. 231-252
ISSN: 0486-4700
Paved with Good Intentions: Global Financial Integration and the Eurozone's Response
In: European political science: EPS, Band 10, Heft 3, S. 366-374
ISSN: 1682-0983
Political Economy, the 'US School', and the Manifest Destiny of Everyone Else
In: New political economy, Band 14, Heft 3, S. 347-356
ISSN: 1469-9923
Financial Markets, Institutions, and Transaction Costs: The Endogeneity of Financial Governance
In: APSA 2009 Toronto Meeting Paper
SSRN
Working paper
The Politics of Economic and Monetary Union: Integration and Idiosyncrasy
In: Acta politica: AP ; international journal of political Science, Band 38, Heft 4, S. 369-372
ISSN: 1741-1416
States, Markets and Governance for Emerging Market Economies: Private Interests, the Public Good and the Legitimacy of the Development Process
In: International affairs, Band 79, Heft 4, S. 755-781
ISSN: 1468-2346
States, markets and governance for emerging market economies: Private interests, the public good and the legitimacy of the development process
In: International affairs, Band 79, S. 755-781
ISSN: 0020-5850
World Affairs Online
States, Markets and Governance for Emerging Market Economies: Private Interests, the Public Good and the Legitimacy of the Development Process
In: International affairs, Band 79, Heft 4, S. 755-782
ISSN: 0020-5850
The Politics of Economic and Monetary Union: Integration and Idiosyncrasy
In: Acta politica: AP ; international journal of political science ; official journal of the Dutch Political Science Association (Nederlandse Kring voor Wetenschap der Politiek), Band 38, Heft 4, S. 369-372
ISSN: 0001-6810
Global Integration, EMU, and Monetary Governance in the European Union: The Political Economy of the ‘Stability Culture’
In: European States and the Euro, S. 31-52
State, market, and global political economy: genealogy of an (inter-?) discipline
In: International affairs, Band 76, Heft 4, S. 805-824
ISSN: 1468-2346