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The Financial Lobby and Impact of Other Stakeholders in the EU: A good model for emancipation of the financial system in Kosovo

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  • govori, fadil

Abstract

Lobbying is a phenomenon which is already present in all political systems and it is not surprising if you consider the issue of lobbying within the formal structures of governance of financial markets and financial industry in the EU and Kosovo. However, the complex and inscrutable institutional structures in EU inevitably result in an inevitable quality of lobbying, which give more influence to the stakeholders that have the resources to organize and develop systematic lobbying activities. This paper describes how lobbying of influential institutions groups in EU, involved in decision making about financial services and markets, occurs through official channels, such as public consultations, and through informal means, such as close meetings between lobbyists and decision makers or officials within EU institutions. In this context we intend to rationalize such a behavior pattern in the regulation of the financial system in Kosovo. Kosovo has some fundamental problems in the field of regulation of the financial system and financial industry in conformity with the rules of functioning of the market economies. Instead of formal and official conversation between interest groups about the regulation of financial system, frequently are used corrupt models of influence which later are classified as criminal, and often classified as organized crime activities. From this point of view lobbying should be considered as a reasonable option within the formal structures of governance of financial markets and financial industry in Kosovo.

Suggested Citation

  • govori, fadil, 2012. "The Financial Lobby and Impact of Other Stakeholders in the EU: A good model for emancipation of the financial system in Kosovo," MPRA Paper 38866, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:38866
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    File URL: https://mpra.ub.uni-muenchen.de/38866/1/MPRA_paper_38866.pdf
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    References listed on IDEAS

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    1. Benink, Harald A. & Schmidt, Reinhard H., 2004. "Europe's single market for financial services: views by the European Shadow Financial Regulatory Committee," Journal of Financial Stability, Elsevier, vol. 1(2), pages 157-198, December.
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    More about this item

    Keywords

    Financial lobbying; financial system; financial markets; financial industry; financial regulation; stakeholder; European Union; European Institutions;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G3 - Financial Economics - - Corporate Finance and Governance
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • G2 - Financial Economics - - Financial Institutions and Services
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates

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