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Explaining the EU’s Uneven Influence Across the International Regime Complex in Shadow Banking

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  • Lucia Quaglia

    (Department of Political Science, University of Bologna, Italy)

  • Aneta Spendzharova

    (Department of Political Science, Maastricht University, The Netherlands)

Abstract

This article shows that the EU has exerted uneven influence within the global regime complex in shadow banking. Why? We seek to explain the variation in the EU’s ability to exert influence across different elemental regimes—those on hedge funds and securitization—in the broader regime complex over time. In hedge funds regulation, the EU has pursued more stringent international rules, to no avail. In securitization, the EU has been more successful in promoting more lenient regulation at the international level. We focus on the EU’s internal cohesiveness (which can change over time) as the key explanatory variable.

Suggested Citation

  • Lucia Quaglia & Aneta Spendzharova, 2023. "Explaining the EU’s Uneven Influence Across the International Regime Complex in Shadow Banking," Politics and Governance, Cogitatio Press, vol. 11(2), pages 6-16.
    • Handle: RePEc:cog:poango:v:11:y:2023:i:2:p:6-16
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    References listed on IDEAS

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    3. Lucia Quaglia & Aneta Spendzharova, 2017. "Post‐crisis reforms in banking: Regulators at the interface between domestic and international governance," Regulation & Governance, John Wiley & Sons, vol. 11(4), pages 422-437, December.
    4. Tom Delreux & Joseph Earsom, 2023. "The European Union as an Actor Navigating International Regime Complexes," Politics and Governance, Cogitatio Press, vol. 11(2), pages 1-5.
    5. Howarth, David & Quaglia, Lucia, 2016. "The Political Economy of European Banking Union," OUP Catalogue, Oxford University Press, number 9780198727927.
    6. Raustiala, Kal & Victor, David G., 2004. "The Regime Complex for Plant Genetic Resources," International Organization, Cambridge University Press, vol. 58(2), pages 277-309, April.
    7. Cornelia Woll, 2013. "Lobbying under Pressure: The Effect of Salience on European Union Hedge Fund Regulation," Post-Print hal-02186537, HAL.
    8. Roman Goldbach, 2015. "Asymmetric influence in global banking regulation," Review of International Political Economy, Taylor & Francis Journals, vol. 22(6), pages 1087-1127, December.
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    Cited by:

    1. Tom Delreux & Joseph Earsom, 2023. "The European Union as an Actor Navigating International Regime Complexes," Politics and Governance, Cogitatio Press, vol. 11(2), pages 1-5.

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