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Title: | European supranational financial supervision : a system forged in crisis |
Authors: | Buttigieg, Christopher P. |
Keywords: | European System of Financial Supervision Financial services industry -- State supervision -- European Union countries Financial services industry -- Law and legislation -- Europe Union countries Financial institutions, International -- State supervision Independent regulatory commissions -- Europe Union countries |
Issue Date: | 2023 |
Publisher: | World Federation of Exchanges |
Citation: | Buttigieg, C. P. (2023). European Supranational Financial Supervision: A System Forged in Crisis. WFE Focus, https://focus.world-exchanges.org/articles/european-supranational. |
Abstract: | International and Regional Regulatory Institutions (IRIs) have, throughout history, been created and reshaped by crises. This article argues that this phenomenon can be explained through rational choice neo-institutionalism, which argues that crises shift policy equilibrium and allow for greater political will towards solving the root causes of the crisis – in turn, this usually involves some degree of power delegation from the national to the supranational. This article applies this theory to the creation and further development of the European System of Financial Supervision (ESFS) in two cases: (1) the post-2009 crisis; and (2) the post-sovereign debt crisis. |
URI: | https://focus.world-exchanges.org/articles/european-supranational https://www.um.edu.mt/library/oar/handle/123456789/116299 |
Appears in Collections: | Scholarly Works - FacEMABF |
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European_supranational_financial_supervision_a_system_forged_in_crisis(2023).pdf | 153.5 kB | Adobe PDF | View/Open |
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