Public-Private Co-Regulation in the making of the capital markets union

IF 3.3 3区经济学 Q1 DEVELOPMENT STUDIES

Journal of Economic Policy Reform Pub Date : 2022-05-30 DOI:10.1080/17487870.2022.2076677

Giuseppe Montalbano

引用次数: 0

Abstract

ABSTRACT This contribution investigates the conditions and dynamics of a public-private regulatory partnership in the making of the Capital Markets Union. According to our argument, structural interdependence and the strategic use of market narratives in a low salient policy domain allowed the EU financial industry to frame their interests as a solution to Europe’s missing recovery. Under the pressures of the Eurozone crisis and the EMU constraints, the goals of critical financial industry sectors and EU policy-makers met together, leading to a renewed regulatory cooperation. Such a mechanism is unveiled through a process-tracing case-study analysis on the EU covered bonds framework.

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资本市场联盟形成过程中的公私共同监管

摘要本文研究了资本市场联盟成立过程中公私监管伙伴关系的条件和动态。根据我们的论点，结构性的相互依存和在一个不太突出的政策领域战略性地使用市场叙事，使欧盟金融业能够将其利益作为欧洲缺失复苏的解决方案。在欧元区危机和欧洲货币联盟限制的压力下，关键金融业部门和欧盟决策者的目标一致，导致了新的监管合作。这一机制是通过对欧盟债券框架的过程追踪案例研究分析揭示的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Economic Policy Reform Multiple-

CiteScore

6.60

自引率

0.00%

发文量

期刊介绍： The Journal of Economic Policy Reform focuses on the analysis of economic policy reform. The journal draws upon what lessons can be learned from the successes and failures of countries undertaking reforms and how existing theories can be developed to shed light on positive as well as normative aspects of the reform process. The Journal of Economic Policy Reform encourages work from economists and political economy analysts on policies to promote growth and reduce poverty, intellectual property rights, aid versus trade, debt and debt relief, taxation and social security systems, surveys of key reform issues, as well as on corruption, democracy, emerging markets and the role of multilateral institutions.