2020
DOI: 10.1111/rego.12346
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Regulatory novelty after financial crises: Evidence from international banking and securities standards, 1975–2016

Abstract: Financial crises are often presented as triggers for important innovations in international regulation of financial markets, but existing evidence for this claim primarily derive from the analyses of individual initiatives, assessed against noncomparable benchmarks. In order to provide systematic evidence of financial crises' impact on international financial regulatory change, this paper develops a novel text-as-data approach to measure regulatory novelty. We use this approach to analyze the full population o… Show more

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Cited by 5 publications
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“… 6 Cosine similarity has been used, for example, to compare similarity among legislations (Garrett and Jansa, 2015), parliamentary speeches (Diodati et al., 2018), international financial regulation (Pagliari and Wilf, 2018) and parties’ manifestos (Menini et al., 2017). …”
mentioning
confidence: 99%
“… 6 Cosine similarity has been used, for example, to compare similarity among legislations (Garrett and Jansa, 2015), parliamentary speeches (Diodati et al., 2018), international financial regulation (Pagliari and Wilf, 2018) and parties’ manifestos (Menini et al., 2017). …”
mentioning
confidence: 99%