IDEAS home Printed from https://ideas.repec.org/a/taf/rripxx/v19y2012i4p609-638.html
   My bibliography  Save this article

From failure to failure: The politics of international banking regulation

Author

Listed:
  • Ranjit Lall

Abstract

It is now clear that Basel III, a much discussed set of proposals to govern the international banking system drawn up by the Basel Committee on Banking Supervision, has fallen far short of its creators’ aims. Even more puzzlingly, this is not without precedent. Eleven years ago, partly in response to the Asian financial crisis of 1997, the Basel Committee attempted to overhaul global banking rules in order to enhance the stability of the global financial system. The culmination of its five-year efforts, the Basel II Accord, was abandoned by regulators before ever being fully implemented. In this paper, I ask why Basel II failed to meet the Basel Committee's original objectives and why Basel III has met a similar fate. Drawing on recent work on the politics of global regulation, I present a theoretical framework which emphasizes the importance of timing and sequencing in determining the outcome of rule-making in global finance. The success of this framework in explaining the failure of Basel II and Basel III is an invitation to scholars in the field of International Relations to take ‘time’ seriously as an analytical variable.

Suggested Citation

  • Ranjit Lall, 2012. "From failure to failure: The politics of international banking regulation," Review of International Political Economy, Taylor & Francis Journals, vol. 19(4), pages 609-638.
  • Handle: RePEc:taf:rripxx:v:19:y:2012:i:4:p:609-638
    DOI: 10.1080/09692290.2011.603669
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09692290.2011.603669
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/09692290.2011.603669?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    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:taf:rripxx:v:19:y:2012:i:4:p:609-638. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rrip20 .

    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.