IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-01070524.html
   My bibliography  Save this paper

Transnational Civil Society and the Consumer-friendly Turn in Financial Regulation

Author

Listed:
  • Lisa Kastner

    (CEE - Centre d'études européennes et de politique comparée (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

Abstract

The literature on financial regulation has typically emphasized the role of the powerful financial industry in shaping regulatory outcomes. However, capture theories cannot explain the prominence of financial consumer protection in post-crisis reform agendas. By contrast, this paper argues that, despite their collective action disadvantage, a polymorphous network of civil society organizations was able to gain momentum after the financial crisis and to influence the financial reform process. In this policy window, where decision-makers were looking out for an alternative source of expertise, a transnationally connected civil society network successfully raised the issue of consumer protection on reform agendas in tandem with public entrepreneurs and on the back of a popular backlash against big finance. This argument will be explored through a comparative study of the impact of transnational pressures on policy-makers in Europe and the US in the immediate aftermath of the crisis. In the conclusion, the paper discusses the substance of the financial reforms that have been undertaken.

Suggested Citation

  • Lisa Kastner, 2013. "Transnational Civil Society and the Consumer-friendly Turn in Financial Regulation," Working Papers hal-01070524, HAL.
    • Handle: RePEc:hal:wpaper:hal-01070524
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-01070524
    as

    Download full text from publisher

    File URL: https://sciencespo.hal.science/hal-01070524/document
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Haas, Peter M., 1992. "Introduction: epistemic communities and international policy coordination," International Organization, Cambridge University Press, vol. 46(1), pages 1-35, January.
    2. World Bank, 2012. "Good Practices for Financial Consumer Protection," World Bank Publications - Reports 26861, The World Bank Group.
    3. Jacob S. Hacker & Paul Pierson, 2010. "Winner-Take-All Politics: Public Policy, Political Organization, and the Precipitous Rise of Top Incomes in the United States," Politics & Society, , vol. 38(2), pages 152-204, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zsuzsánna Biedermann & Ágnes Orosz, 2015. "Diverging financial regulations after the crisis? A comparison of the EU’s and the United States’ responses," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 14(1), pages 31-55.
    2. repec:cbh:journl:v:14:y:2015:i:1:p:31-55 is not listed 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. repec:hal:spmain:info:hdl:2441/cnic3v8rndpflfg9o2gbm8t25 is not listed on IDEAS
    2. Kastner, Lisa, 2013. "Transnational civil society and the consumer-friendly turn in financial regulation," MaxPo Discussion Paper Series 13/2, Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo).
    3. Lisa Kastner, 2013. "Transnational Civil Society and the Consumer-friendly Turn in Financial Regulation," Sciences Po publications 13/2, Sciences Po.
    4. Lisa Kastner, 2013. "Transnational Civil Society and the Consumer-friendly Turn in Financial Regulation," SciencePo Working papers Main hal-01070524, HAL.
    5. Claude Paraponaris, 2017. "Plateformes numériques, conception ouverte et emploi," Post-Print halshs-01614430, HAL.
    6. Barry Eichengreen and Fabio Ghironi., 1997. "European Monetary Unification and International Monetary Cooperation," Center for International and Development Economics Research (CIDER) Working Papers C97-091, University of California at Berkeley.
    7. Jeanie Bukowski, 2017. "A “new water culture†on the Iberian Peninsula? Evaluating epistemic community impact on water resources management policy," Environment and Planning C, , vol. 35(2), pages 239-264, March.
    8. Mateos-Garcia, Juan & Steinmueller, W. Edward, 2008. "The institutions of open source software: Examining the Debian community," Information Economics and Policy, Elsevier, vol. 20(4), pages 333-344, December.
    9. Catherine Long, 2017. "Delegated Service Authority: Institutional Evolution of PEPFAR Health-Based Program Implementing Units in Tanzania," Global Policy, London School of Economics and Political Science, vol. 8(3), pages 303-312, September.
    10. József Banyár & Petra Turi, 2019. "The Evolution of the Insurance Consumer Protection Approach in Hungary," Public Finance Quarterly, State Audit Office of Hungary, vol. 64(2), pages 189-207.
    11. Sandberg, Kristin Ingstad & Andresen, Steinar & Bjune, Gunnar, 2010. "A new approach to global health institutions? A case study of new vaccine introduction and the formation of the GAVI Alliance," Social Science & Medicine, Elsevier, vol. 71(7), pages 1349-1356, October.
    12. Sosay, Gül & Zenginobuz, Unal, 2005. "Independent regulatory agencies in emerging economies," MPRA Paper 380, University Library of Munich, Germany.
    13. Muriel Figuié & Tristan Fournier, 2010. "Risques sanitaires globaux et politiques nationales : la gestion de la grippe aviaire au Vietnam," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 91(3), pages 327-343.
    14. Lütz, Susanne, 1998. "Wenn Banken sich vergessen ...: Risikoregulierung im internationalen Mehr-Ebenen-System," MPIfG Discussion Paper 98/5, Max Planck Institute for the Study of Societies.
    15. Acosta, Matias & Szlamka, Zsofia & Mostajo-Radji, Mohammed A., 2020. "Transnational youth networks: an evolving form of public diplomacy to accelerate the Sustainable Development Goals," SocArXiv 8247s, Center for Open Science.
    16. Yannis Papadopoulos, 2018. "How does knowledge circulate in a regulatory network? Observing a European Platform of Regulatory Authorities meeting," Regulation & Governance, John Wiley & Sons, vol. 12(4), pages 431-450, December.
    17. Theine, Hendrik, 2019. "The media coverage of wealth and inheritance taxation in Germany," Department of Economics Working Paper Series 290, WU Vienna University of Economics and Business.
    18. Elsässer, Lea & Hense, Svenja & Schäfer, Armin, 2018. "Government of the people, by the elite, for the rich: Unequal responsiveness in an unlikely case," MPIfG Discussion Paper 18/5, Max Planck Institute for the Study of Societies.
    19. Thor Olav Iversen, 2023. "Boundary experts: Science and politics in measuring the Sustainable Development Goals," Global Policy, London School of Economics and Political Science, vol. 14(4), pages 600-610, September.
    20. Ole Danielsen & Kutsal Yesilkagit, 2014. "The Effects of European Regulatory Networks on the Bureaucratic Autonomy of National Regulatory Authorities," Public Organization Review, Springer, vol. 14(3), pages 353-371, September.
    21. Gough, Ian & Abu Sharkh, Miriam, 2010. "Financing welfare regimes: a literature review and cluster analysis," LSE Research Online Documents on Economics 41208, London School of Economics and Political Science, LSE Library.

    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:hal:wpaper:hal-01070524. 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: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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.