scholarly journals The politics of bank structural reform: Business power and agenda setting in the United Kingdom, France, and Germany

2019 ◽  
Vol 22 (1) ◽  
pp. 25-51 ◽  
Author(s):  
David Howarth ◽  
Scott James
Keyword(s):  
United Kingdom ◽  
Financial Crisis ◽  
Agenda Setting ◽  
Structural Reform ◽  
The United Kingdom ◽  
International Financial Crisis ◽  
Business Power ◽  
Policy Windows ◽  
Conflict Expansion ◽  
Independent Commission

AbstractFollowing the financial crisis, the United Kingdom introduced major structural reforms to address concern about Too-Big-To-Fail (TBTF) banks, while France and Germany adopted much weaker reforms. This is puzzling given the presence of large universal banks engaged in market making activities in all three countries, which suffered significant losses during the international financial crisis, and given the commitments to reform made by political leaders in all three countries. The paper explains this policy divergence by analysing how dynamics of agenda setting contributed to the emergence of policy windows on structural reform. We explain the United Kingdom's decision to delegate the process to an independent commission as an example of venue shifting which helped to insulate the process from industry framing, and resulted in “conflict expansion” by mobilizing a wider coalition of actors in support of bank ringfencing. By contrast, in France and Germany the agenda was tightly managed through existing institutional venues, enabling industry to resist the framing of the issue around TBTF and limiting the role of non-business groups—a process we label as “conflict contraction.” We argue that analysis of agenda setting dynamics provides new insights into the cross-national variability of business power.

Religious motifs within reporting of the 7/7 London bombings in the United Kingdom, the United States, and Poland: A transnational agenda-setting network study

Journalism ◽  
2019 ◽  
Vol 20 (10) ◽  
pp. 1323-1342
Author(s):  
Damian Guzek
Keyword(s):  
United States ◽  
United Kingdom ◽  
Network Analysis ◽  
Agenda Setting ◽  
Media Coverage ◽  
The United States ◽  
The United Kingdom ◽  
Religion And Ethnicity ◽  
Media Globalization ◽  
London Bombings

Existing studies have examined the significance of UK media coverage of the 7/7 London bombings. This article seeks to widen this analysis by exploring the coverage of 7/7 in the leading newspapers of the United Kingdom, the United States, and Poland comparatively using a new agenda-setting perspective that is grounded within network analysis. The study is devised to respond specifically to the contrasting arguments about the influence of media globalization versus religion and ethnicity on this reporting. It finds that the diverse approaches to religion within the countries of the analyzed newspapers appear to mitigate the reproduction of shared religious narratives in this reporting. Nevertheless, the analyzed coverage does carry common attributes and these, it argues, can be explained broadly by the influence of a US-dominated ‘lens on terror’.

scholarly journals Financial Crisis and Europe: An eventual post-scenario analysis

2016 ◽  
Vol 3 (1) ◽  
pp. 1
Author(s):  
Mike Susan
Keyword(s):  
United Kingdom ◽  
Financial Crisis ◽  
Scenario Analysis ◽  
Great Recession ◽  
Critical Position ◽  
The Great Recession ◽  
The United Kingdom ◽  
Spending Cuts

It is a typical abstain of political strategists that you ought not release a decent emergency to squander. Seven years on from the beginnings of the worldwide money related emergency, we can make an evaluation of whether that saying was taken after. The reaction in Europe was generally one of expanded government obtaining, counterbalance by bundles of expense rises and spending cuts. The methodologies in France, Germany, Ireland, Italy, Spain and the United Kingdom have been in a few ways comparative, however essential contrasts in a critical position of assessments and cuts, in the zones focused on and in the sorts of family units influenced have permitted us to make some unmistakable inferences about the effect of the Great Recession.

Part II The Transatlantic Dialogue, 6 The United Kingdom—Gentlemanly Capitalism and the International Markets

2021 ◽  
Author(s):  
Jordan Cally
Keyword(s):  
United Kingdom ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
International Markets ◽  
Role Of Government ◽  
The United Kingdom ◽  
Popular View ◽  
The Global Financial Crisis ◽  
City Of London ◽  
The City

This chapter focuses on the regulation of international markets in the United Kingdom. Providing investor protection in the United Kingdom has been a fraught and difficult process. Even well into the 1980s, one very popular view in the City of London, openly espoused, was that it was not the role of government, nor was it necessarily either possible or desirable, to ‘protect fools from their own folly’. Rather, the gentlemen of the City, historical evidence to the contrary notwithstanding, insisted that their ‘impeccable’ behaviour provided all the protections necessary. Less than a decade ago, the International Monetary Fund (IMF) identified ‘uncertainty risk’ as the major threat to the City of London. At the time, massive regulatory change in the United Kingdom and a tidal wave of EU regulation in response to the global financial crisis were the immediate concerns. Despite the sea changes in the nature of markets and regulatory upheaval in the United Kingdom, the City sailed on. In hindsight, the uncertainty risks associated with the global financial crisis and the EU's regulatory agenda pale in comparison to those posed by Brexit.

scholarly journals The Great Financial Crisis

2015 ◽  
Vol 4 (2) ◽  
pp. 1-10
Author(s):  
Clements Akinsoyinu
Keyword(s):  
Economic Growth ◽  
United Kingdom ◽  
Financial Crisis ◽  
Global Economy ◽  
Empirical Literature ◽  
Policy Makers ◽  
The Great Depression ◽  
The United Kingdom ◽  
Bank Of England ◽  
Policy Measures

The Great Financial Crisis has been touted to be the worst crisis since the Great Depression of 1930; its effect has profound ramifications on the global economy. The nature and the severity of the crisis provoked an unprecedented policy response from policy makers at both global and domestic levels. To address the rampaging crisis, the Bank of England implemented a number of conventional and unconventional policy measures to curtail the economic rot and to stimulate economic growth. There is a broad consensus in the empirical literature and other evidence found in this paper that a number of the policies implemented in the United Kingdom played a significant role in re-directing and stimulating the economy. This paper reviews the various policy measures adopted by the Bank of England from the inception of the financial crisis in 2008 and assesses their effectiveness in bringing back the economy from the brink of collapse. Our review shows that quantitative easing (QE) policy and the expansionary fiscal policy adopted by the Bank of England were effective policy tools used in stimulating economic growth, stemming the effect and shortening the duration of the crisis in the United Kingdom

scholarly journals Challenges of Monetary Policy during Crisis in the United Kingdom

2018 ◽  
Vol 1 (17) ◽  
pp. 9-19
Author(s):  
Marta Paduszyńska
Keyword(s):  
Monetary Policy ◽  
United Kingdom ◽  
Financial Crisis ◽  
Central Bank ◽  
Negative Impact ◽  
Real Economy ◽  
Negative Effects ◽  
The United Kingdom ◽  
Bank Of England ◽  
The Impact

The topic of the presented study is about the monetary policy in the United Kingdom, included situation and challenges of this policy during crisis. This article presents the structure of the central bank of England as well as economic trends in years 2002–2016. Special attention has been devoted to the Quantitative Easing – unconventional monetary policy followed by central bank in the wake of financial crisis that began in 2007. The main purpose of the article is to show the impact of the financial crisis on the monetary policy in the United Kingdom and methods of dealing with its negative effects. Realisation of this will be studied literature and data compiled by the institutions involved in the discussed issue, especially reports prepared by the Central Bank of England. The financial crisis has had a negative impact on the real economy of the United Kingdom. It limited possibilities of household consumption and also possibilities of investment companies. Both of those, consumption and investment are important determinants of GDP.

Money supply, exchange rates and office market dynamics: comparative evidence from the UK and Germany

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alain Coën ◽  
Benoit Lefebvre
Keyword(s):  
United Kingdom ◽  
Financial Crisis ◽  
Exchange Rates ◽  
Money Supply ◽  
Global Financial Crisis ◽  
Content Type ◽  
The United Kingdom ◽  
Office Markets ◽  
The Global Financial Crisis ◽  
The Impact

PurposeThe aim of this study is to shed light on the relative importance of money supply and exchange rates variations on office markets prices dynamics.Design/methodology/approachUsing a parsimonious real estate asset pricing model, the authors focus on the two biggest European office markets; namely the United Kingdom and Germany. The authors use a panel approach based on a robust econometric methodology (GMM with correction errors-in-variables). The authors take into account the variations of exchange rates and money supplies for the most important currencies.FindingsThe results highlight the impact of money supplies and exchange rates on office prices after the Global Financial Crisis. The authors report that the monetary policies in the UK and in Germany (Euro zone) have had significant influences in the real estate sector after the Global Financial Crisis. However, the authors identified significant differences between British and German office markets for the 2009–2019 period regarding the impact of money supply and exchange rates variations on the office prices dynamics.Practical implicationsThe results highlight the impact of money supplies and exchange rates on office prices after the Global Financial Crisis. The detailed and exclusive database (composed of the main office markets in the United Kingdom and in Germany) allows the authors to identify significant differences and opportunities for investors.Originality/valueThe authors use a parsimonious model and apply a panel approach based on a robust econometric methodology to analyse the impact of exchange rates and money supply variations on the office prices dynamics. The detailed and exclusive database (composed of the main office markets in the United Kingdom and in Germany) allows the authors to identify significant differences for investors.

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