When do autonomous banking regulators promote stability
Datos Bibliográficos
| ID | 6258583 |
|---|---|
| Autores | Jacint Jordana (0000-0003-2700-6747, Universitat Pompeu Fabra and Institut Barcelona d'Estudis Internacionals Spain, autor de correspondencia), Guillermo Rosas (0000-0001-9166-3296, Washington University in St Louis USA) |
| Año | 2014 |
| Volumen | 53 |
| Número | 4 |
| Páginas | 672-691 |
| Fecha de publicación | 2014-11-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | European Journal of Political Research (JOURNAL) |
| Identificadores de la revista | ISSN: 0304-4130 • E-ISSN: 1475-6765 |
| Editorial | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1475-6765.12059 |
| OpenAlex | W2155166608 |
| Idioma | EN |
| Citas recibidas | 7 |
| Referencias citadas | 30 |
Can autonomous banking regulatory agencies reduce the odds that a country will suffer a crippling banking crisis? We investigate the impact that agencies charged with banking regulation and prudential supervision can have on financial stability in the banking sector. We argue that the potential benefits of autonomy are hard to realise because banking regulators face incentives to shirk in their mandate to secure banking stability. These incentives are strongest in political systems with high numbers of veto players, where the autonomy of a banking agency is difficult to undo even if the agency is derelict in promoting banking sector stability. We test an implication of this argument, namely, that the probability of bank crisis onset should diminish with the level of autonomy of the banking agency, but only in polities with low numbers of veto points. We base our analysis of this conditional hypothesis on an original dataset of 79 countries observed between 1971 and 2009 that captures the degree of autonomy of banking agencies from political principals. Our findings confirm that the impact of banking agency autonomy on the risk of bank crisis onset is conditional on the political structure in which the agency is embedded
Agency (philosophy · Argument (complex analysis · Autonomy · Business · Economics · Financial crisis · Financial regulation · Financial system · Incentive · Macroeconomics · Mandate · Market economy · Monetary economics · Political science · Politics · Retail banking · Sociology · Veto · Banking stability, regulation, efficiency · Credit Risk and Financial Regulations · Global Financial Crisis and Policies · Law
When all is said and done
Asymmetric influence in global banking regulation
Can we have it all? The evolution of regulatory frameworks in Latin America
Managing pandemics as super wicked problems
Themulti‐agenciesdilemma of delegation
Does formal independence of regulators change? Evidence from Portuguese agencies
Political Independence, Accountability, and the Quality of Regulatory Decision-Making
This Time Is Different
Deliberate Discretion?
Delegating Powers
Measuring the Independence of Central Banks and Its Effect on Policy Outcomes
The Institutional Environment for Economic Growth
Veto Players
Choosing Not To Choose
The Same, But Different
Theme Section
Taking Time Seriously
Federalism and Central bank Independence
Financial Regulation, Monetary Policy, and Inflation in the Industrialized World
The Politics of Financial Regulatory Agency Replacement
De facto independence after delegation
Back to the Future
Political Learning from Rare Events
Elections, Special Interests, and Financial Crisis
The Global Diffusion of Regulatory Agencies
The Calculus of Consensus Democracy
The Political Evolution of Principal-Agent Models
Theories Ofdelegation
A Macroprudential Approach to Financial Regulation
The Limits of Delegation
| Obras citantes distintas | 7 |
|---|---|
| Citas por año | 0,64 |
| Intervalo de citas | 2015 - 2022 (8) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 7 |