International Financial Cooperation and the Number of Adherents: The Basel Committee and Capital Regulation
Theoretical analyses of international cooperation point to cooperation being optimized with a small number of participants. History is consistent with this view. However an anomaly is the international capital standards created by the Basel Committee on Banking Supervision (BCBS). Basel I has over 100 adherents, and approximately that number of countries have been identified in a survey as candidates for Basel II. The author demonstrates that this is not an anomaly. First, Basel I was a product of a duopoly and then an oligopoly prior to approval by the BCBS. Secondly, self-interest and other factors explain why more than 100 countries have agreed to accept these standards. Copyright Springer Science + Business Media, LLC 2006
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Volume (Year): 17 (2006)
Issue (Month): 4 (December)
Pages: 443-458
| Handle: | RePEc:kap:openec:v:17:y:2006:i:4:p:443-458 |
| DOI: | 10.1007/s11079-006-0358-6 |
| Contact details of provider: | Web page: http://www.springer.com
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| Order Information: | Web: http://www.springer.com/economics/international+economics/journal/11079/PS2 |
References listed on IDEAS
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