2,168
Views
28
CrossRef citations to date
0
Altmetric
Original Articles

Limits of legitimacy and the primacy of politics in financial governance

Pages 52-74 | Published online: 08 Feb 2011

REFERENCES

  • Abbott , K. and Snidal , D. 2001 . International “Standards” and International Governance . Journal of European Public Policy , 8 ( 3 ) : 345 – 70 .
  • Abdelal , R. 2007 . Capital Rules: The Construction of Global Finance , Cambridge, MA : Harvard University Press .
  • Alexander , K. , Eatwell , J. , Persaud , A. and Reoch , R. 2007 . Financial Supervision and Crisis Management in the EU , Brussels : Policy Department Economic and Scientific Policy of the European Parliament .
  • Axelrod , R. 1984 . The Evolution of Cooperation , New York : Basic Books .
  • Barnett , M. and Finnemore , M. 2004 . Rules for the World: International Organizations in Global Politics , Ithaca : Cornell University Press .
  • Bergström , C. 2005 . Comitology: Delegation of Powers in the European Union and the Committee System , Oxford : Oxford University Press .
  • Bovens , M. 2007 . New Forms of Accountability and EU-Governance . Comparative European Politics , 5 ( 1 ) : 104 – 20 .
  • Bryant , R. 2003 . Turbulent Waters: Cross-border Finance and International Governance , Washington, DC : The Brookings Institution .
  • Buchanan , A. and Keohane , R. 2006 . The Legitimacy of Global Governance Institutions . Ethics & International Affairs , 20 ( 4 ) : 405 – 37 .
  • Buck , T. 2007 . “ Rating Agencies Hit by Subprime Probe ” . In Financial Times
  • Cabral , I. , Dierick , F. and Vesala , J. 2002 . Banking Integration in the Euro Area , Frankfurt : ECB .
  • Cerny , P. 1995 . Globalization and the Changing Logic of Collective Action . International Organization , 49 ( 4 ) : 595 – 625 .
  • Coen , D. 2007 . Empirical and Theoretical Studies in EU Lobbying . Journal of European Public Policy , 14 ( 3 ) : 333 – 45 .
  • Coleman , W. and Porter , T. 2000 . International Institutions, Globalisation and Democracy: Assessing the Challenges . Global Society , 14 ( 3 ) : 377 – 98 .
  • Committee of Wise Men . 2001 . Final Report of the Committee of Wise Men on the Regulation of European Securities Markets , Brussels .
  • Curtin , D. 2003 . Private Interest Representation or Civil Society Deliberation? A Contemporary Dilemma for European Union . Social & Legal Studies , 12 ( 1 ) : 55 – 75 .
  • Dahl , R. 1994 . A Democratic Dilemma: System Effectiveness versus Citizen Participation . Political Science Quarterly , 109 ( 1 ) : 23 – 34 .
  • Dehousse , R. 2003 . Comitology: Who Watches the Watchmen? . Journal of European Public Policy , 10 ( 5 ) : 798 – 813 .
  • de Larosière , J. , Balcerowicz , L. , Issing , O. , Masera , R. , McCarthy , C. , Nyberg , L. , Pérez , J. and Ruding , O. 2009 . Report by the High-level Group on Financial Supervision in the EU , Brussels .
  • de Visscher , C. , Maiscocq , O. and Varone , F. 2007 . The Lamfalussy Reform in the EU Securities Markets: Fiduciary Relationships, Policy Effectiveness and Balance of Power . Journal of Public Policy , 28 ( 1 ) : 19 – 47 .
  • Eberlein , B. and Grande , E. 2005 . Beyond Delegation: Transnational Regulatory Regimes and the EU Regulatory State . Journal of European Public Policy , 12 ( 1 ) : 89 – 112 .
  • Egan , M. 2001 . Constructing a European Market: Standards, Regulation and Governance , Oxford : Oxford University Press .
  • Epstein , G. , ed. 2005 . Financialization and the World Economy , Cheltenham : Edward Elgar .
  • Eriksen , E. and Fossum , J. 2002 . Democracy through Strong Publics in the European Union? . Journal of Common Market Studies , 40 ( 3 ) : 401 – 24 .
  • European Commission . 1988a . “ Creating a European Financial Area ” . In European Economy 36
  • European Commissio . 1988b . Services Case-studies. Financial Services . European Economy , 35 : 86 – 94 .
  • European Commissio . 1999 . Financial Services: Implementing the Framework for Financial Markets: Action Plan , Brussels : European Commission .
  • European Commissio . July 2001 . Revision of the Investment Services Directive (93/22). Summary of the Responses to the Preliminary Orientations of Commission Services , July , Brussels : European Commission .
  • European Commissio . 2002 . Investment Services: Constructive Open Hearing on Revision of Directive , Brussels : European Commission . Press Release MEMO/02/80, 24 April
  • European Commissio . 2003 . Tracking EU Financial Integration , Brussels : European Commission . Commission Staff Working Paper SEC(2003) 628
  • European Commissio . 2005 . Financial Integration Monitor – 2005 Update – Annex to Background document , Brussels : European Commission .
  • European Commissio . June 2006a . European Securities Markets Expert Group (ESME): Terms of Reference , June , Brussels : European Commission .
  • European Commissio . 2006b . European Securities Markets Expert Group (ESME) , Brussels : European Commission . (List of Members), June
  • Financial Services Authorit . 2009 . The Turner Review: Regulatory Response to the Global Banking Crisis , London : FSA .
  • Føllesdal , A. 2004 . “ Legitimacy Theories of the European Union ” . Oslo : Centre for European Studies, University of Oslo . ARENA Working Paper 04/15
  • Germain , R. 2001 . Global Financial Governance and the Problem of Inclusion . Global Governance , 7 : 411 – 26 .
  • Germain , R. 2004 . Globalising Accountability within the International Organisation of Credit: Financial Governance and the Public Sphere . Global Society , 18 ( 3 ) : 217 – 42 .
  • Glyn , A. 2006 . Capitalism Unleashed: Finance, Globalization and Welfare , Oxford : Oxford University Press .
  • Gottwald , J.-C. 2006 . Die politische Gestaltung des europäischen Finanzmarktes, unpublished habilitation manuscript , University of Trier .
  • Greenwood , J. 2003 . Interest Representation in the European Union , New York : Palgrave Macmillan .
  • Grossman , E. 2004 . Bringing Politics Back in: Rethinking the Role of Economic Interest Groups in European Integration . Journal of European Public Policy , 11 ( 4 ) : 637 – 54 .
  • Haas , P. 1992 . Introduction: Epistemic Communities and International Policy Coordination . International Organization , 46 ( 1 ) : 1 – 35 .
  • Habermas , J. 1997 . Between Facts and Norms , Cambridge : Polity Press .
  • Hall , P. 1993 . Policy Paradigms, Social Learning and the State: The Case of Economic Policy Making in Britain . Comparative Politics , 25 : 275 – 96 .
  • Héritier , A. 2003 . Composite Democracy in Europe: The Role of Transparency and Access to Information . Journal of European Public Policy , 10 ( 5 ) : 814 – 33 .
  • Holman , O. 2004 . Asymmetrical Regulation and Multidimensional Governance in the European Union . Review of International Political Economy , 11 ( 4 ) : 714 – 35 .
  • Jabko , N. 2006 . “ Playing the Market ” . In A Political Strategy for Uniting Europe, 1985–2005 , Ithaca : Cornell University Press .
  • Joerges , C. and Neyer , J. 1997 . From Intergovernmental Bargaining to Deliberative Political Process: The Constitutionalization of Comitology . European Law Journal , 3 ( 3 ) : 273 – 99 .
  • Kaul , I. , ed. 2003 . Providing Global Public Goods: Managing Globalization , New York : Oxford University Press .
  • Keohane , R. 1984 . After Hegemony: Cooperation and Discord in the World Political Economy , Princeton : Princeton University Press .
  • Newman , E. , Thakur , R. and Triman , J. 2007 . “ The Contingent Legitimacy of Multilateralism ” . In Multilateralism under Challenge? Power, International Order, and Structural Change , 56 – 66 . New York : United Nations University Press .
  • King , M. and Sinclair , T. 2003 . Private Actors and Public Policy: A Requiem for the New Basel Capital Accord . International Political Science Review , 24 ( 3 ) : 345 – 62 .
  • Kirshner , J. 2003 . Money is Politics . Review of International Political Economy , 10 ( 4 ) : 645 – 60 .
  • Krasner , S. , ed. 1983 . International Regimes , Ithaca : Cornell University Press .
  • Krippner , G. 2005 . The Financialization of the American Economy . Socio-Economic Review , 3 ( 2 ) : 173 – 208 .
  • Leyshon , A. and Thrift , N. 2007 . The Capitalization of Almost Everything: The Future of Finance and Capitalism . Theory, Culture & Society , 24 ( 7–8 ) : 97 – 115 .
  • Lord , C. and Beetham , D. 2001 . Legitimizing the EU: Is There a “Post-parliamentary Basis” for its Legitimation? . Journal of Common Market Studies , 39 ( 3 ) : 443 – 62 .
  • Lord , C. and Magnette , P. 2004 . E Pluribus Unum? Creative Disagreement about Legitimacy in the EU . Journal of Common Market Studies , 42 ( 1 ) : 183 – 202 .
  • Majone , G. , ed. 1996 . Regulating Europe , London : Routledge .
  • Majone , G. 2000 . The Credibility Crisis of Community Regulation . Journal of Common Market Studies , 38 ( 2 ) : 273 – 302 .
  • Marcussen , M. 2005 . “ ‘Transcending Politics: A New Stage in Management Transformation? The Scientization of Central Banking as Case’, paper prepared for the SCANCOR/SOG Workshop on Autonomization of the State: From Integrated Administrative Models to Single Purpose Organizations ” . Stanford University .
  • Mijs , W. and Puebla , A. 2002 . “ Making the Single Market in Financial Services a Reality ” . In European Union Lobbying: Changes in the Arena , Edited by: Pedler , R. 257 – 68 . Houndmills : Palgrave Macmillan .
  • Moravcsik , A. 2002 . In Defence of the “Democratic Deficit”: Reassessing Legitimacy in the European Union . Journal of Common Market Studies , 40 ( 4 ) : 603 – 24 .
  • Morris , C. 2008 . The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash , New York : Public Affairs .
  • Mügge , D. 2006a . Reordering the Market Place: Competition Politics in European Finance . Journal of Common Market Studies , 44 ( 5 ) : 991 – 1022 .
  • Mügge , D. 2006b . Private–Public Puzzles: Inter-firm Competition and Transnational Private Regulation . New Political Economy , 11 ( 2 ) : 177 – 200 .
  • Niemann , A. 2004 . Between Communicative Action and Strategic Action: The Article 113 Committee and the Negotiations on the WTO Basic Telecommunications Services Agreement . Journal of European Public Policy , 11 ( 3 ) : 379 – 407 .
  • Olson , M. 1965 . The Logic of Collective Action: Public Goods and the Theory of Groups , Cambridge, MA : Harvard University Press .
  • Partnoy , F. 1999 . The Siskel and Ebert of Financial Markets: Two Thumbs Down for the Credit Ratings Agencies . Washington University Law Quarterly , 77 ( 3 ) : 619 – 712 .
  • Pierson , P. 2000 . The Limits of Design: Explaining Institutional Origins and Change . Governance , 13 ( 4 ) : 475 – 99 .
  • Pollack , M. 1997 . Delegation, Agency and Agenda Setting in the European Community . International Organization , 51 ( 1 ) : 99 – 134 .
  • Rhinard , M. 2002 . The Democratic Legitimacy of the European Union Committee System . Governance , 15 ( 2 ) : 185 – 210 .
  • Ruggie , J. 1993 . Territoriality and Beyond: Problematizing Modernity in International Relations . International Organization , 47 ( 1 ) : 139 – 74 .
  • Scharpf , F. 1997 . Introduction: the Problem-solving Capacity of Multi-level Governance . Journal of European Public Policy , 4 ( 4 ) : 520 – 38 .
  • Scharpf , F. 1999 . Governing in Europe: Effective and Democratic? , Oxford : Oxford University Press .
  • Schmidt , V. 2004 . The European Union: Democratic Legitimacy in a Regional State? . Journal of Common Market Studies , 42 ( 5 ) : 975 – 97 .
  • Seabrooke , L. 2006 . The Social Sources of Financial Power: Domestic Legitimacy and International Financial Orders , Ithaca : Cornell University Press .
  • Shirreff , D. 1999 . “ Disgrace at the Heart of Europe ” . In Euromoney 75 – 78 .
  • Sinclair , T. 2005 . The New Masters of Capital: American Bond Rating Agencies and the Politics of Creditworthiness , Ithaca : Cornell University Press .
  • Snidal , D. 1985 . Coordination versus Prisoners’ Dilemma: Implications for International Cooperation and Regimes . American Political Science Review , 79 ( 4 ) : 923 – 42 .
  • Story , J. and Walter , I. 1997 . The Political Economy of Financial Integration in Europe: The Battle of the Systems , Cambridge : MIT Press .
  • Streeck , W. 1996 . “ Public Power Beyond the Nation-state: The Case of the European Community ” . In States Against Markets , Edited by: Boyer , R. and Drache , D. 225 – 37 . London : Routledge .
  • Tallberg , J. 2002 . Delegation to Supranational Institutions: Why, How, and with What Consequences? . West European Politics , 25 ( 1 ) : 23 – 46 .
  • Thatcher , M. and Stone , Sweet A. 2002 . Theory and Practice of Delegation to Non-Majoritarian Institutions . West European Politics , 25 ( 1 ) : 1 – 22 .
  • The Banker . 2004 . “ Rating Agencies – EU's Plan to Regulate is Fiercely Opposed ” . In The Banker
  • Tsingou , E. 2003 . “ Transnational Policy Communities and Financial Governance: The Role of Private Actors in Derivatives Regulation ” . CSGR Working Paper 111/03, Warwick
  • Underhill , G. 1997 . “ The Making of the European Financial Area: Global Market Integration and the EU Single Market for Financial Services ” . In The New World Order in International Finance , Edited by: Underhill , G. 101 – 23 . Basingstoke : Macmillan .
  • Underhill , G. and Zhang , X. 2006 . “ Norms, Legitimacy, and Global Financial Governance ” . London : World Economy and Finance Research Programme Working Paper 0013 .
  • van Schendelen , R. 2005 . Machiavelli in Brussels: The Art of Lobbying the EU , Amsterdam : Amsterdam University Press .
  • van Tatenhove , J. , Mak , J. and Liefferink , D. 2006 . The Inter-play between Formal and Informal Practices . Perspectives on European Politics and Society , 7 ( 1 ) : 8 – 24 .
  • Werle , R. and Iversen , E. 2006 . Promoting Legitimacy in Technical Standardization . Science, Technology & Innovation Studies , 2 : 19 – 39 .
  • Wilks , S. and Bartle , I. 2002 . The Unanticipated Consequences of Creating Independent Competition Agencies . West European Politics , 25 ( 1 ) : 148 – 72 .
  • Woll , C. 2008 . Firm Interests: How Governments Shape Business Lobbying on Global Trade , Ithaca : Cornell University Press .
  • Woods , N. 2006 . The Globalizers: The IMF, the World Bank, and Their Borrowers , Ithaca : Cornell University Press .
  • Wyplosz , C. 1999 . “ International Financial Instability ” . In Global Public Goods: International Cooperation in the 21st Century , Edited by: Kaul , I. , Conceição , P. , Le Goulven , K. and Mendozd , R. 152 – 90 . London : Oxford University Press .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.