Private Ratings Public Regulations

Author: A. Kruck
Publisher: Springer
ISBN: 0230307388
Format: PDF
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Credit rating agencies play a powerful and contentious role in the governance of global financial markets. Introducing an original framework for delegating political authority to private actors, this book explains common trends in the regulatory use of private ratings for public purposes and analyzes regulatory changes after the Financial Crisis.

Transparency in International Law

Author: Andrea Bianchi
Publisher: Cambridge University Press
ISBN: 1107470242
Format: PDF, Docs
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While its importance in domestic law has long been acknowledged, transparency has until now remained largely unexplored in international law. This study of transparency issues in key areas such as international economic law, environmental law, human rights law and humanitarian law brings together new and important insights on this pressing issue. Contributors explore the framing and content of transparency in their respective fields with regard to proceedings, institutions, law-making processes and legal culture, and a selection of cross-cutting essays completes the study by examining transparency in international law-making and adjudication.

The New Regulatory State

Author: L. Leisering
Publisher: Springer
ISBN: 0230343503
Format: PDF
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Explores the role of governments in creating and regulating private pensions in the UK and Germany since the 1980s. Private pensions have given rise to a new regulatory state in this area. The contributing authors compare pension regulation and utility regulation, while others analyse the regulatory role of the EU.

Regulating Capitalism

Author: J. Zimmermann
Publisher: Springer
ISBN: 1137309288
Format: PDF, ePub
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By exploring how financial, legal and wider socio-economic systems can accelerate or decelerate the harmonization in financial markets, this book connects issues both of contemporary political science and accounting research.

The Foundations and Future of Financial Regulation

Author: Mads Andenas
Publisher: Routledge
ISBN: 113504337X
Format: PDF, ePub, Docs
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Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al’s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

The Many Hands of the State

Author: Kimberly J. Morgan
Publisher: Cambridge University Press
ISBN: 131684188X
Format: PDF, ePub, Docs
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The state is central to social scientific and historical inquiry today, reflecting its importance in domestic and international affairs. States kill, coerce, fight, torture, and incarcerate, yet they also nurture, protect, educate, redistribute, and invest. It is precisely because of the complexity and wide-ranging impacts of states that research on them has proliferated and diversified. Yet, too many scholars inhabit separate academic silos, and theorizing of states has become dispersed and disjointed. This book aims to bridge some of the many gaps between scholarly endeavors, bringing together scholars from a diverse array of disciplines and perspectives who study states and empires. The book offers not only a sample of cutting-edge research that can serve as models and directions for future work, but an original conceptualization and theorization of states, their origins and evolution, and their effects.

Common goods

Author: Adrienne Windhoff-Héritier
Publisher: Rowman & Littlefield Pub Inc
ISBN:
Format: PDF, Docs
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As European countries become more interdependent, the provision of common goods increasingly must be organized across national boundaries, levels of government, and sectors. In addition, former adversaries in the public and private sectors must learn to collaborate rather than compete. These changing paradigms call for new institutional and instrumental arrangements that move beyond existing modes of national governance. Offering a unique focus on the emerging role of private actors, this volume explores the evolving challenge of governing common goods in an increasingly transnational environment.

The Systemic Regulation of Credit Rating Agencies and Rated Markets

Author: Mr. Amadou N. R. Sy
Publisher: International Monetary Fund
ISBN: 1452765200
Format: PDF, Mobi
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Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency and competition. In contrast, this paper argues that macro-prudential regulation is necessary to address the systemic risk inherent to ratings. The paper illustrates how financial markets have increasingly relied on ratings. It shows how downgrades have led to systemic market losses and increased illiquidity. The paper suggests the use of "ratings maps" and stress-tests to assess the systemic risk of ratings, and increased capital or liquidity buffers to manage such risk.

The Regulatory Responses to the Global Financial Crisis Some Uncomfortable Questions

Author: Stijn Claessens
Publisher: International Monetary Fund
ISBN: 1484336658
Format: PDF, Mobi
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We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ goals; and acknowledging that risks of crises will always remain, in part due to (unknown) unknowns – be they tipping points, fault lines, or spillovers. Corresponding to these three tenets, specific areas for further reforms are identified. Policy makers need to resist, however, fine-tuning regulations: a “do not harm” approach is often preferable. And as risks will remain, crisis management needs to be made an integral part of system design, not relegated to improvisation after the fact.

The Oxford Handbook of Transformations of the State

Author: Stephan Leibfried
Publisher: OUP Oxford
ISBN: 0191643254
Format: PDF, ePub, Docs
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This Handbook offers a comprehensive treatment of transformations of the state, from its origins in different parts of the world and different time periods to its transformations since World War II in the advanced industrial countries, the post-Communist world, and the Global South. Leading experts in their fields, from Europe and North America, discuss conceptualizations and theories of the state and the transformations of the state in its engagement with a changing international environment as well as with changing domestic economic, social, and political challenges. The Handbook covers different types of states in the Global South (from failed to predatory, rentier and developmental), in different kinds of advanced industrial political economies (corporatist, statist, liberal, import substitution industrialization), and in various post-Communist countries (Russia, China, successor states to the USSR, and Eastern Europe). It also addresses crucial challenges in different areas of state intervention, from security to financial regulation, migration, welfare states, democratization and quality of democracy, ethno-nationalism, and human development. The volume makes a compelling case that far from losing its relevance in the face of globalization, the state remains a key actor in all areas of social and economic life, changing its areas of intervention, its modes of operation, and its structures in adaption to new international and domestic challenges.