IDEAS home Printed from https://ideas.repec.org/a/fle/journl/v53y2019i2p229-246.html
   My bibliography  Save this article

The UK as a Conflicted Pacesetter in Trading Up Post-crisis International Derivatives Regulation

Author

Listed:
  • Scott James

    (King’s College, London)

  • Lucia Quaglia

    (Università di Bologna)

Abstract

The United Kingdom (UK) hosts a leading international financial centre and has a large financial sector. This jurisdiction has traditionally been very influential in international standard-setting bodies in finance. Whereas prior to the international financial crisis, the UK was often keen to ‘trade-down’ international standards, after the crisis, the UK has pursued increasingly stringent financial regulation in certain financial sectors, such as derivatives. What accounts for this ‘trading up’ approach? In order to address this question, we adopt a two-step analytical framework. The first step examines the process of national preference formation by identifying three sets of key domestic players: elected officials (namely, government ministers and members of parliament); unelected officials (central bankers and financial regulators); and the financial industry. The second step explains the UK’s regulatory strategies and influence over regulatory outcomes at the international level.

Suggested Citation

  • Scott James & Lucia Quaglia, 2019. "The UK as a Conflicted Pacesetter in Trading Up Post-crisis International Derivatives Regulation," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 53(2), pages 229-246, December.
    • Handle: RePEc:fle:journl:v:53:y:2019:i:2:p:229-246
    DOI: 10.26331/1092
    as

    Download full text from publisher

    File URL: https://www.annalsfondazioneluigieinaudi.it/images/LIII/2019-2-014-quaglia.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.26331/1092?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
    ---><---

    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:fle:journl:v:53:y:2019:i:2:p:229-246. 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: Mario Aldo Cedrini (email available below). General contact details of provider: https://edirc.repec.org/data/fleinit.html .

    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.