Explaining Policy Responses to Danish and Irish Banking Failures during the Financial Crisis

Kluth, Michael Friederich; Lynggaard, Kennet

doi:10.1080/01402382.2013.783358

Cited by 12 publications

(13 citation statements)

References 14 publications

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“…Second, a number of comparative country studies deal with the provision of liquidity during phases of boom and bust in the CEECs (Jacoby, ) and the adoption (or not) of the euro in these countries (Epstein and Johnson, ). Thorhallsson and Kirby () compare Ireland and Iceland, while Kluth and Lynggaard () compare Ireland and Denmark.…”

Section: Discussionmentioning

confidence: 99%

Political Science and the Eurozone Crisis. A Review of Scientific Journal Articles 2004–15

Höing

Kunstein

2018

J of Common Market Studies

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We take a closer look at how political science engaged with Economic and Monetary Union (EMU) over a period of 12 years (2004–15). How intensively, and with what focus, have political science journals dealt with EMU? How has the scientific discourse on the topic changed with the outbreak of the global financial crisis, which led to a eurozone crisis? Our systematic, qualitative analysis of articles (N=161) dealing with EMU in selected peer‐reviewed political science journals yields a number of interesting findings. First, we observe marked differences between the pre‐ and post‐crisis period. Specifically, political science has increasingly taken up issues of financial regulation and questions of trust in a monetary union. Second, political scientists did not engage as much as expected with the democratic ramifications of the crisis management. Finally, different crisis narratives persist, and none have been completely refuted.

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Section: Discussionmentioning

confidence: 99%

Political Science and the Eurozone Crisis. A Review of Scientific Journal Articles 2004–15

Höing

Kunstein

2018

J of Common Market Studies

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“…This finding hints at the fact that the common conception of the nature of a given global crisis may offer a platform for exercising regulatory power Arguably, the United States-led "war-on-terror" has given United States a forceful frame of reference in international negotiations in the area of data protection. On the other hand, the financial and economic crisis, which is typically viewed as originating from the United States (Kluth & Lynggaard, 2013), has presented the EU with an opportunity to play a more significant role in global banking regulation, an area where the EU (whether actual or not) traditionally is seen as having a more prudential approach to regulation. It is beyond the scope of this article, but a more systematic mapping of global crisis discourses and an investigation of how such discourses may favor particular actors in exercising regulatory power is certainly a promising avenue for future research.…”

Section: Discussionmentioning

confidence: 99%

Assessing the EU’s Transatlantic Regulatory Powers Using the Choice of Policy Instruments as Measurement of Preference Attainment

Löfgren

Lynggaard

2015

International Journal of Public Administration

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To what extent is the European Union (EU) exercising global regulatory power? This article investigates this question through a comparative study of two significant global policy fields: data-protection and banking with a special focus on the choice of policy instruments. Both cases suggest that the actual role of the EU is more complex than either exercising or being subjected to global regulatory power. This concerns not only the relationship between the EU and the member-states. The article suggests that the EU is in a better position to conclude global regulatory deals when the negotiating competencies sit with one EU institutional actor.

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“…The aim of the association is to support the takeover of distressed banks by stronger competitors, for example by issuing guarantees on some of the assets acquired. The association was a continuation of the facility under the deposit guarantee scheme, which could assist members in covering extraordinary charges in relation to takeovers or mergers in distressed institutions (Kluth and Lynggaard, 2013). The association can thus be viewed as an integrated part of solving banking crises in Denmark and constitutes the institutionalization of an old tradition of cooperation between banking sector and state in Danish banking crises.…”

Section: Special Bank Resolution Policies In the United States And Dementioning

confidence: 99%

Institutional bricolage in times of crisis

Carstensen

2015

Eur. Pol. Sci. Rev.

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How may we understand the occurrence of gradual but significant change following economic crisis? Theories of gradual institutional transformation offer important insights to analyses of long-term institutional change, but have so far shied away from dealing with institutional change during and following crisis, leaving the issue to more traditional critical juncture models. Instead of seeing gradual institutional change originating only in the efforts of rule takers to circumvent existing institutions – potentially leading to gradual change over longer periods of time – the paper suggests that in more abrupt processes of change characteristic of economic crisis, rule makers may also reinterpret the meaning of rules and redeploy them under significantly altered circumstances leading to gradual change. The paper suggests that the concept of bricolage is useful for understanding how policymakers create new institutional setups through the re-ordering of existing institutional elements. The empirical relevance of these arguments is demonstrated with a study of post-crisis special bank insolvency policies in Denmark and the United States, showing how in both polities new institutions were created from existing institutional elements.

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Explaining Policy Responses to Danish and Irish Banking Failures during the Financial Crisis

Cited by 12 publications

References 14 publications

Political Science and the Eurozone Crisis. A Review of Scientific Journal Articles 2004–15

Political Science and the Eurozone Crisis. A Review of Scientific Journal Articles 2004–15

Assessing the EU’s Transatlantic Regulatory Powers Using the Choice of Policy Instruments as Measurement of Preference Attainment

Institutional bricolage in times of crisis

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