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Lobbying under Pressure: The Effect of Salience on European Union Hedge Fund Regulation

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  • Cornelia Woll

    (Centre de recherches internationales (CERI))

Abstract

The virulent European Union hedge fund debate led many observers to suspect a paradigmatic battle between liberal market economies and countries in favour of tighter regulation. By contrast, this article points to the economic interests that drove government agendas. However, national preferences were not defined by the aggregate of a country's economic interests, but by very specific stakeholders only, despite the existence of opponents with considerable resources. This article argues that the unequal success of financial lobbyists depended on how their demands fitted into the government's overarching negotiation strategy. The primacy of government objectives, in turn, resulted from the high saliency of financial regulation and hedge funds in particular.

Suggested Citation

  • Cornelia Woll, 2013. "Lobbying under Pressure: The Effect of Salience on European Union Hedge Fund Regulation," Sciences Po publications info:hdl:2441/6ggbvnr6mun, Sciences Po.
    • Handle: RePEc:spo:wpmain:info:hdl:2441/6ggbvnr6munghes9og5h9g9qi
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    References listed on IDEAS

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    1. James Buckley & David Howarth, 2010. "Internal Market: Gesture Politics? Explaining the EU's Response to the Financial Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 48(s1), pages 119-141, September.
    2. Culpepper,Pepper D., 2011. "Quiet Politics and Business Power," Cambridge Books, Cambridge University Press, number 9780521118590, November.
    3. Jonathan Story & Ingo Walter, 1997. "Political Economy of Financial Integration in Europe: The Battle of the Systems," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262692031, December.
    4. Frieden, Jeffry A., 1991. "Invested interests: the politics of national economic policies in a world of global finance," International Organization, Cambridge University Press, vol. 45(4), pages 425-451, October.
    5. Culpepper,Pepper D., 2011. "Quiet Politics and Business Power," Cambridge Books, Cambridge University Press, number 9780521134132, November.
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    Keywords

    Lobbying; Economic interests;

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