Governing Finance in Europe 2020
DOI: 10.4337/9781839101120.00015
|View full text |Cite
|
Sign up to set email alerts
|

The emergence of transnational hybrid governance: how private risks trigger public intervention

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
3
1
1

Citation Types

0
11
0

Year Published

2021
2021
2024
2024

Publication Types

Select...
2
1

Relationship

0
3

Authors

Journals

citations
Cited by 3 publications
(11 citation statements)
references
References 11 publications
0
11
0
Order By: Relevance
“…“In this transformation, OTC derivatives became increasingly complex instruments involving multiple payment exchanges, with credit exposures being increasingly associated with time-varying derivatives” (Schinasi et al ., 2000, pp. 3, 16 cited in Karremans and Hé ritier, 2020, p. 140). In their complexity, they became difficult to understand and predict.…”
Section: Illustrative Empirical Casesmentioning
confidence: 99%
See 2 more Smart Citations
“…“In this transformation, OTC derivatives became increasingly complex instruments involving multiple payment exchanges, with credit exposures being increasingly associated with time-varying derivatives” (Schinasi et al ., 2000, pp. 3, 16 cited in Karremans and Hé ritier, 2020, p. 140). In their complexity, they became difficult to understand and predict.…”
Section: Illustrative Empirical Casesmentioning
confidence: 99%
“…OTC derivatives deriving their value from other assets were largely unregulated until 2000 (Awrey, 2010, p. 162). The underlying contracts represent the right or obligation to buy or sell certain security, commodity, currency or another financial instrument at some future point in time at a defined settlement rate (Karremans and Héritier, 2020, p. 139; Biggins and Scott, 2012, p. 312). They are not traded on exchanges, but “over-the-counter”, directly between buyers and sellers, hence are not centrally cleared in CCPs (Karremans and Héritier, 2020, p. 139).…”
Section: Illustrative Empirical Casesmentioning
confidence: 99%
See 1 more Smart Citation
“…In the context of transnational financial regulation there are many non-state or private actors engaged in self-regulation or co-regulation with state actors (Karremans and Héritier 2020) which in their transnational regulatory activities escape the vertical control of state actors when holding them accountable (Black and Rouch 2008). This raises complex problems like how to use accountability mechanisms in such a way as to challenge the effects of regulation.…”
Section: Procedural Accountabilitymentioning
confidence: 99%
“…More precisely, the recent regulatory reforms of European financial market regulation have resulted in different patterns of centralised, de-centralised and even fragmented rulemaking, with regulatory standards mostly set at the European level and effective market supervision carried out at the member-state level (Héritier and Schoeller 2020). In parallel, as always in financial regulation, through self-regulation, co-regulation with regulators and lobbying by interest groups, private actors have provided substantial inputs to the content of European regulations (Helleiner et al 2018;Karremans and Héritier 2020;Smolenska et al 2020).…”
Section: Introductionmentioning
confidence: 99%