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Private sector influence and the international political economy of banking regulation: The formation of the Basel II Accord 1998-2004.

Young, Kevin Lloyd (2010) Private sector influence and the international political economy of banking regulation: The formation of the Basel II Accord 1998-2004. PhD thesis, London School of Economics and Political Science (United Kingdom).

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Abstract

This study undertakes an empirical investigation of private sector influence over transnational financial regulatory policymaking. I examine the relationship between the content, context, and success of private sector attempts to influence the formation of the Basel II Accord between 1998 and 2004. I call these efforts 'private sector campaigns', and engage in an empirical analysis of campaigns organized at both the transnational level and at the national levels in Canada, Germany, Japan, the United Kingdom and the United States. The analysis employs a mixed-method research design involving process tracing analysis, fuzzy-set Qualitative Comparative Analysis (fsQCA) and statistical regression analysis. Using extensive primary source material, I test a number of different hypotheses prevalent within relevant academic literatures regarding the specific means that private sector groups use to influence their regulators, as well as the transnational and national pathways by which private sector influence translates into actual regulatory policy change. While I find evidence for a number of important instances of private sector influence over the content of the Basel II Accord, I find that this influence is much more contingent and context-dependent than depictions of 'regulatory capture' in the IPE of finance literature suggest. In particular, the presence of business conflict strongly affects the success of private sector campaigns. Furthermore, I find that while there are a number of necessary conditions that have to be in place for influence to occur, there is no individually sufficient condition for influence. Rather, only a particular combination of conditions is sufficient in generating private sector influence. This particular set of conditions is, however, highly fragile.

Item Type: Thesis (PhD)
Uncontrolled Keywords: Business Administration, Banking
Sets: Collections > ProQuest Etheses
Departments > Government
URI: http://etheses.lse.ac.uk/id/eprint/3034

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