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The Political Economy of Financial Regulation Policies Following the Global Crisis

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  • Hale Balseven

    (Department of Public Finance, Faculty of Economics and Administrative Science, Akdeniz University, Antalya, Turkey)

Abstract

This paper analyses the efficiency of financial regulation reforms that are being supported in a variety of theoretical approaches after the 2007/2008 global crisis. The main challenges that prevent the efficiency of the reforms are; (i) Maintaining the Basel approach that is argued to have led to the financial crisis, (ii) its limited content, (iii) its lack of global and national financial infrastructure, (iv) not being designed in a framework that comprises the macro policies. Due to the reasons mentioned above, this paper argues that the regulation policy can neither fulfill its stability role nor its distributive role and that in this way, it restructures forthcoming crisis, not the financial sector. In order to prevent crises, a critical approach is required on the mode of regulation of the economy and a reorganization of capitalism is necessary on a larger scale

Suggested Citation

  • Hale Balseven, 2016. "The Political Economy of Financial Regulation Policies Following the Global Crisis," International Journal of Economics and Financial Issues, Econjournals, vol. 6(2), pages 607-616.
    • Handle: RePEc:eco:journ1:2016-02-33
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    References listed on IDEAS

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    Cited by:

    1. Meier, Samira & Rodriguez Gonzalez, Miguel & Kunze, Frederik, 2021. "The global financial crisis, the EMU sovereign debt crisis and international financial regulation: lessons from a systematic literature review," International Review of Law and Economics, Elsevier, vol. 65(C).
    2. Sophia Beckett Velez, 2021. "Idiosyncratic Viral Loss Theory: Systemic Operational Losses in Banks," JRFM, MDPI, vol. 14(2), pages 1-13, February.

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    More about this item

    Keywords

    Government Policy and Regulation; Financial Crises; Crisis Management;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G01 - Financial Economics - - General - - - Financial Crises
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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