IDEAS home Printed from https://ideas.repec.org/a/sae/anname/v649y2013i1p76-97.html
   My bibliography  Save this article

Innovation-Framing Regulation

Author

Listed:
  • Cristie Ford

Abstract

This article provides insights into the effective regulation of private sector innovation. It coins a term—“innovation-framing regulation†—to describe a particular quality of much of financial regulation in the recent era. It sketches a particular financial innovation (securitization and the marketing of securitized assets on derivatives markets), and describes three regulatory interactions having to do with that innovation. I identify three key assumptions that are ripe for re-evaluation: the notion that private sector innovation is beneficial, virtually by definition; the assumption that the regulatory moment is the crucial moment in regulatory design; and the belief that regulation somehow sits outside innovation and can be untouched by it. I argue that effective regulation of private sector innovation requires a clearer and more nuanced understanding of innovation, and engagement with the normative choices underpinning innovation-framing regulation.

Suggested Citation

  • Cristie Ford, 2013. "Innovation-Framing Regulation," The ANNALS of the American Academy of Political and Social Science, , vol. 649(1), pages 76-97, September.
    • Handle: RePEc:sae:anname:v:649:y:2013:i:1:p:76-97
    DOI: 10.1177/0002716213489249
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0002716213489249
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0002716213489249?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Lessig, Lawrence, 1998. "The New Chicago School," The Journal of Legal Studies, University of Chicago Press, vol. 27(2), pages 661-691, June.
    2. Adrian Blundell-Wignall & Paul Atkinson, 2010. "Thinking beyond Basel III: Necessary Solutions for Capital and Liquidity," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2010(1), pages 9-33.
    3. Black, Julia, 2008. "Forms and paradoxes of principles-based regulation," LSE Research Online Documents on Economics 23103, London School of Economics and Political Science, LSE Library.
    4. Parker,Christine, 2002. "The Open Corporation," Cambridge Books, Cambridge University Press, number 9780521818902, November.
    5. Kahn, Alfred E, 1971. "Evaluation of Economic Regulation of Industry: Discussion," American Economic Review, American Economic Association, vol. 61(2), pages 235-237, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sharon Gilad, 2011. "Institutionalizing fairness in financial markets: Mission impossible?," Regulation & Governance, John Wiley & Sons, vol. 5(3), pages 309-332, September.
    2. Kenneth Patrick Vincent O'Sullivan & Stephen Kinsella, 2013. "Financial and regulatory failure: The case of Ireland," Journal of Banking Regulation, Palgrave Macmillan, vol. 14(1), pages 1-15, January.
    3. Sharon Gilad, 2010. "It runs in the family: Meta‐regulation and its siblings," Regulation & Governance, John Wiley & Sons, vol. 4(4), pages 485-506, December.
    4. Janda, Karel & Kravtsov, Oleg, 2016. "Interdependencies between Leverage and Capital Ratios in the Central and Eastern European Banks," MPRA Paper 74560, University Library of Munich, Germany.
    5. Meixing Dai & François Barry, 2013. "La dimension macro-prudentielle de la régulation financière introduite par Bâle III," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 28(1), pages 25-35, June.
    6. Simplice A. Asongu & Nicholas M. Odhiambo, 2019. "Size, efficiency, market power, and economies of scale in the African banking sector," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 5(1), pages 1-22, December.
    7. Shyam Sunder & Michael Maier & Karim Jamal, 2004. "Enforced Standards Versus Evolution by General Acceptance: A Comparative Study of E-Commerce Privacy Disclosure and Practice in the U.S. and the U.K," Yale School of Management Working Papers amz2630, Yale School of Management, revised 01 Nov 2004.
    8. Braithwaite, John, 2006. "Responsive regulation and developing economies," World Development, Elsevier, vol. 34(5), pages 884-898, May.
    9. Rob Imrie & Emma Street, 2009. "Risk, Regulation and the Practices of Architects," Urban Studies, Urban Studies Journal Limited, vol. 46(12), pages 2555-2576, November.
    10. Pečarič Mirko, 2020. "Regulatory Cybernetics: Adaptability and Probability in the Public Administration’s Regulations," NISPAcee Journal of Public Administration and Policy, Sciendo, vol. 13(1), pages 133-156, June.
    11. Jodi L. Short & Michael W. Toffel & Andrea R. Hugill, 2016. "Code Contingencies: Designing Monitoring Regimes to Promote Improvement in Supply Chain Working Conditions," Harvard Business School Working Papers 17-001, Harvard Business School, revised Mar 2019.
    12. Luc Brès & Sébastien Mena & Marie‐Laure Salles‐Djelic, 2019. "Exploring the formal and informal roles of regulatory intermediaries in transnational multistakeholder regulation," Regulation & Governance, John Wiley & Sons, vol. 13(2), pages 127-140, June.
    13. Calmès, Christian & Théoret, Raymond, 2014. "Bank systemic risk and macroeconomic shocks: Canadian and U.S. evidence," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 388-402.
    14. Ingo Pies & Philipp Schreck & Karl Homann, 2021. "Single-objective versus multi-objective theories of the firm: using a constitutional perspective to resolve an old debate," Review of Managerial Science, Springer, vol. 15(3), pages 779-811, April.
    15. Roland Benabou & Jean Tirole, 2011. "Laws and Norms," NBER Working Papers 17579, National Bureau of Economic Research, Inc.
    16. Nepal, Rabindra & Jamasb, Tooraj, 2015. "Incentive regulation and utility benchmarking for electricity network security," Economic Analysis and Policy, Elsevier, vol. 48(C), pages 117-127.
    17. Sanne R. Van Duin & Henri C. Dekker & Jacco L. Wielhouwer & Juan P. Mendoza, 2018. "The Tone from Above: The Effect of Communicating a Supportive Regulatory Strategy on Reporting Quality," Journal of Accounting Research, Wiley Blackwell, vol. 56(2), pages 467-519, May.
    18. Benjamin Van Rooij & Adam Fine, 2018. "Toxic Corporate Culture: Assessing Organizational Processes of Deviancy," Administrative Sciences, MDPI, vol. 8(3), pages 1-38, June.
    19. Colin J. Bennett & Charles D. Raab, 2020. "Revisiting the governance of privacy: Contemporary policy instruments in global perspective," Regulation & Governance, John Wiley & Sons, vol. 14(3), pages 447-464, July.
    20. Korte, Josef, 2015. "Catharsis—The real effects of bank insolvency and resolution," Journal of Financial Stability, Elsevier, vol. 16(C), pages 213-231.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:anname:v:649:y:2013:i:1:p:76-97. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.