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Political economy and financial regulation: a comparative analysis of the consumer default debt market in the United States of America and the European Union

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  • Dawn Burton

Abstract

This article advances a politically informed approach to studying the geographical unevenness of the development financial markets by undertaking a comparative analysis of the operation, governance, and regulation of the debt sale and purchase market (DSPM) for default consumer debt in the USA and the European Union. The findings demonstrate regional and interregional variations are attributable to distinctive political economies that determine whether a DSPM becomes embedded or is repelled. A more nuanced approach to financial policy development that is more sensitive to the distinctive geographical context of regulatory spaces is proposed.

Suggested Citation

  • Dawn Burton, 2019. "Political economy and financial regulation: a comparative analysis of the consumer default debt market in the United States of America and the European Union," Journal of Economic Geography, Oxford University Press, vol. 19(3), pages 705-722.
    • Handle: RePEc:oup:jecgeo:v:19:y:2019:i:3:p:705-722.
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    File URL: http://hdl.handle.net/10.1093/jeg/lby036
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    More about this item

    Keywords

    Consumer debt; debt buyers; debt collectors; non-performing loans;
    All these keywords.

    JEL classification:

    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration

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