The Global Financial Crisis: Lessons and Opportunities for International Political Economy

Mosley, Layna; Singer, David A.

doi:10.1080/03050620903328993

Cited by 67 publications

(12 citation statements)

References 30 publications

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“…The current global financial crisis offers an important window to resolve puzzles in several realms of IPE research (Mosley and Singer 2009). Mass attitudes and behavior, such as the vein of self-interested pocketbook effects explored here, are another category of inquiry that has much to gain from studying public opinion data collected during this crisis context.…”

Section: Discussionmentioning

confidence: 98%

In Times of Crisis: The Conditions of Pocketbook Effects

Curtis

2014

International Interactions

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When and how will personal financial (aka "pocketbook") concerns drive citizens' political decisions? Scholars remain puzzled by the mismatch between the expectation that pocketbook voting should occur and the reality that, according to most findings, it usually does not. Using original survey data collected immediately after Iceland's second "Icesave" referendum (2011), I first report the results of an embedded experiment that successfully evokes greater pocketbook concern. Next, I analyze the determinants of retrospective pocketbook evaluations, showing that priming effects are conditioned by political sophistication such that high sophisticates are among the most likely to report negative economic assessments. I then turn to the consequences of these egocentric views for government approval. Mediation analysis confirms a significant indirect effect, suggesting that subjective pocketbook evaluations exert a strong influence on political attitudes that has been hidden in prior work. Results illuminate the contextual, cognitive, and causal circumstances under which pocketbook effects transpire and suggest new ways in which self-interest might matter for attitudes toward international political economy issues.To what extent do personal financial (aka "pocketbook") concerns motivate individual attitudes and behavior? Two rather disparate research programs surround this question but as yet yield inconclusive (if not null) results and engage in little discourse with one another. In one arena, international

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Section: Discussionmentioning

confidence: 98%

In Times of Crisis: The Conditions of Pocketbook Effects

Curtis

2014

International Interactions

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“…The Global Financial Crisis of 2008-? has put international financial crises back on the map for scholars of international and comparative political economy (Mosley and Singer 2009;Helleiner 2011; Bermeo and Pontusson 2012; Kahler and Lake 2013; Streeck and Schafer 2013).…”

Section: The Agenda Aheadmentioning

confidence: 99%

Financial crises and the politics of adjustment and reform

Pepinsky¹

2014

Handbook of the International Political Economy of Monetary Relations

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This chapter is a critical survey of the literature on international financial crises and their consequences for national politics, with a focus on national-level policy choices and political outcomes. After distinguishing conceptually among adjustment, reform, and political change as three broad families of political consequences to financial crises, it reviews three broad analytical approaches to the study of post-crisis political outcomes. Interest-based approaches center on the specific economic consequences of different kinds of financial crises, and look to policy outcomes as a consequence of the interaction between distributional pressures and national political-economic profiles. Institutional approaches address the ways in which institutions mediate the articulation of interest group pressures. Ideational approaches emphasize the constitutive power of ideas in making sense of financial crises. The concluding section identifies several promising areas for future research, highlighting in particular the importance of international context for conditioning the effects of international financial crises on domestic politics. It also highlights some general methodological problems with studying the highly complex economic and political consequences of financial crises.

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“…The experiences of Nigeria, Uganda and Kenya illustrate how capture, defined as "the control of the regulatory process by those whom it is supposed to regulate or by a narrow subset of those affected by regulation" (Mattli / Woods 2009, 13), has shaped central bank policy trajectories and prevented regulatory reform processes from fully attaining their objectives and intended scope. 7 Regulatory capture by banks and other groups has been a major challenge to reforms designed to improve the balance between the stabilising and transformative roles of central banks, not only in the three African case study countries, but globally (Mosley / Singer 2009;Beck et al 2003). Typical results of such capture are: absence of regulation where capture groups would otherwise incur costs (for example, credit bureau legislation would require banks to pay fees for accessing credit information and to invest in credit reporting capacities); absence of regulation where rules would eliminate privileges of particular groups (for example, regulation that would preclude subsidised credit schemes primarily to the benefit of politically connected groups); regulation that is not enforceable or enforced (for example, increases in prudential requirements without corresponding increases in supervisory capacity).…”

Section: Regulatory Capturementioning

confidence: 99%

The Politics of Central Banking and Implications for Regulatory Reform in Sub-Saharan Africa: The Cases of Kenya, Nigeria and Uganda

Dafe

2012

SSRN Journal

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Making Finance Work for Africa" and the GIZ financial sector development programmes in Nigeria and Uganda provided generous assistance and feedback during the preparation of this study. I would particularly like to thank Gabriela Braun, Robin Hofmeister and Saliya Kanathigoda. Special thanks are also due to Kathrin Berensmann, Birgit Schmitz and Peter Wolff for comments on an earlier draft and to Mick Moore, Stephen Spratt and Ulrich Volz for their consistent guidance and support for my larger research project on the comparative political economy of central banking in developing countries. Finally, while in the field, I benefited from the insights of a number of individuals, and I am very grateful to those who took the time to share some of their knowledge with me.

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The Global Financial Crisis: Lessons and Opportunities for International Political Economy

Cited by 67 publications

References 30 publications

In Times of Crisis: The Conditions of Pocketbook Effects

In Times of Crisis: The Conditions of Pocketbook Effects

Financial crises and the politics of adjustment and reform

The Politics of Central Banking and Implications for Regulatory Reform in Sub-Saharan Africa: The Cases of Kenya, Nigeria and Uganda

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