On December the 15th, Prof. Lucia Quaglia (University of York) will be guest in our “Politics & Finance Seminar Series” at InIIS. She will talk about the political economy of domestic compliance with international financial standards in the case of Basel Accords in banking regulation. Lucia is one of the most renowed experts on European financial governance and works in the fields of International & Comparative Political Economy. During her current fellowship at Hanse-Wissenschaftskolleg she explores transatlantic economic coordination together with Prof. Susanne K. Schmidt from InIIS.
15.12.16: Lucia Quaglia (University of York), “The politics of domestic compliance with the Basel Accords in Banking”, InIIS, Room 7.2210, 12.15 – 13.45
Abstract of the talk: Why do jurisdictions comply (or not) with international financial standards? This research examines the mixed record of compliance of the two main jurisdictions worldwide – the United States and the European Union – with the most well-known financial standards, the Basel Accords. It draws attention to the ‘misfit’ between the international standard-setting process and the process of domestic compliance. In the uploading stage, elected officials delegate international standard-setting to domestic regulators and large internationally-active financial institutions successfully mobilise. In the downloading stage, domestic interest groups team up with elected officials in order to resist compliance with international standards that have negative distributional implications for domestic constituencies.