Varieties of Economic Crisis, Varieties of Ideational Change: How and Why Financial Regulation and Macroeconomic Policy Differ

Baker, Andrew

doi:10.1080/13563467.2014.951431

Cited by 74 publications

(51 citation statements)

References 38 publications

(39 reference statements)

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“…Although some scholars from within the tradition might dispute the notion of one discursive institutionalism (see, for example, Schmidt, 2012), there is nonetheless, a basic foundation shared by most proponents of this approach. Peter Hall's (1993) seminal article on the role of policy paradigms is influential in this regard (see Blyth, 2013;Baker, 2015). Hall made a distinction between three orders of policy change: third order corresponds to the ideas and assumptions that structure 'the overarching hierarchical goals that guide policy' (Hall, 1993, p. 278); second order corresponds to the institutions and policy instruments that are used in pursuing these objectives; and first order corresponds to the precise settings of those instruments.…”

Section: Beyond Methodological Elitismmentioning

confidence: 99%

Introduction: Everyday narratives in world politics

Stanley

Jackson

2016

Politics

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Political science and international relations scholarship increasingly places substantive emphasis on, to put it broadly, the power of discourse in shaping world politics. This special issue develops a research agenda that seeks to consolidate a set of data collection and analysis strategies that can be used in studying the way in which elite-driven discourses are legitimated and challenged; in other words, an agenda for studying everyday narratives in world politics. In doing so, the special issue makes a threefold contribution: it analyses how key themes with world politics are reproduced and narrated; it demonstrates the need to go beyond 'methodological elitism' in understanding narratives, legitimacy and world politics;and it highlights some of the methodological and practical issues in researching everyday narratives. In this introductory article, we situate the special issue within a critique of constructivist methodology broadly conceived, conceptualise everyday sites of politics, and finally, provide an overview of the articles in the issue.

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Section: Beyond Methodological Elitismmentioning

confidence: 99%

Introduction: Everyday narratives in world politics

Stanley

Jackson

2016

Politics

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“…Γενικώς, οι προτεινόμενες αλλαγές έπρεπε να συνάδουν με το κυρίαρχο ιδεολογικό πλαίσιο που υποστηρίζουν τα ισχυρά κράτη-μέλη. Ανα-φορικά με τη διαμόρφωση της οικονομικής πολιτικής και τον τρόπο οικονο-μικής διακυβέρνησης στην ΟΝΕ το ιδεολόγημα του νεοφιλελευθερισμού φαί-νεται να είναι αρκετά ανθεκτικό (Baker 2015).…”

Section: ασυμμετρια και κριση στην ευρωζωνηunclassified

Ασύμμετρη Ισχύς, Ευρωπαϊκή Ολοκλήρωση Και Εθνική Κυριαρχία: Η Περίπτωση Της Ευρωζώνης

Μαρής

2018

HPSA

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Κύριος σκοπός αυτής της μελέτης είναι να προσφέρει μια διαφορετική ερμηνεία της διαδικασίας της ευρωπαϊκής ολοκλήρωσης, με την παράθεση ενός εναλλακτικού προτύπου συστηματικής εξέτασης του φαινομένου στο οποίο τονίζεται η σημασία της ασυμμετρίας ως προσδιοριστικού της παράγοντα. Εξετάζεται κυρίως πως η ανάπτυξη ασύμμετρων δυναμικών σχέσεων ανάμεσα στους κύριους δρώντες επηρεάζει τη διαδικασία της ευρωπαϊκής ολοκλήρωσης. Στο ιδιότυπο σύστημα της Ευρωπαϊκής Ένωσης η ασυμμετρία αποκτά τελείως διαφορετικά χαρακτηριστικά σε σχέση με την ασυμμετρία που παρατηρείται στο διεθνές πλαίσιο, συνθήκη η οποία αλλάζει τη φύση της ενοποιητικής διαδικασίας και του προτύπου διακυβέρνησης. Η σημασία της ασυμμετρίας γίνεται εντονότερη στην τρέχουσα περίοδο στην οποία η διαχείριση των ποικίλων κρίσεων και προκλήσεων που αντιμετωπίζει η ΕΕ αποτελεί πεδίο έντονου προβληματισμού και αντιπαράθεσης.

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“…Instead, policy makers increasingly adopt the macro-prudential approach which focus on the systemic risks generated by the collective behavior of financial institutions (Crockett 2000, 3) and attempt to maintain the stability of the financial system as a whole through controlling these risks (Hanson et al 2011, Bisias et al 2012. While this shift in financial regulation has not been accompanied yet by a consensus on the appropriate measures and policy instruments (Baker 2013, Claessens andKodres 2014), the trend towards macroprudential policy interventions seems irreversible (Baker 2015).…”

Section: Introductionmentioning

confidence: 99%

Understanding the Shift from Micro to Macro-Prudential Thinking: A Discursive Network Analysis

2016

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While some economists argued for macro-prudential regulation pre-crisis, the macro-prudential approach and its emphasis on endogenously created systemic risk have only gained prominence post-crisis. Employing discourse and network analysis on samples of the most cited scholarly works on banking regulation as well as on systemic risk (60 sources each) from 1985 to 2014, we analyze the shift from micro to macro-prudential thinking in the shift to the post crisis period. Our analysis demonstrates that the predominance of formalism, particularly, partial equilibrium analysis along with the exclusion of historical and practitioners' styles of reasoning from banking regulatory studies impeded economists from engaging seriously with the endogenous sources of systemic risk prior to the crisis. Post-crisis, these topics became important in this discourse, but the epistemological failures of banking regulatory studies precrisis were not sufficiently recognized. Recent attempts to conceptualize and price systemic risk as a negative externality point to the persistence of formalism and equilibrium thinking, with its attending dangers of incremental innovation due to epistemological barriers constrains theoretical progress, by excluding observed phenomena, which cannot yet be accommodated in mathematical models.

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Varieties of Economic Crisis, Varieties of Ideational Change: How and Why Financial Regulation and Macroeconomic Policy Differ

Cited by 74 publications

References 38 publications

Introduction: Everyday narratives in world politics

Introduction: Everyday narratives in world politics

Ασύμμετρη Ισχύς, Ευρωπαϊκή Ολοκλήρωση Και Εθνική Κυριαρχία: Η Περίπτωση Της Ευρωζώνης

Understanding the Shift from Micro to Macro-Prudential Thinking: A Discursive Network Analysis

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