Appetite for Reform: When do Exogenous Shocks Motivate Industrial Policy Change?

ABSTRACTThis paper explores the impact of internationalization on the financial services policy subsystem in Canada. It uses subsystem adjustment as a concept to bring some analytical clarity to how exogenous factors like globalisation and international crises may impact existing policy regimes. Based on examination of globalisation-induced banking deregulation (1987–1991) and the current crisis of securitized banking, the paper argues that the strength of this approach is that it integrates endogenous effects of the existing subsystem in explaining policy changes in response to what are normally treated as exogenous shocks. Careful effort needs to be made to differentiate the processes of external systemic perturbations from subsystem spillovers as these two processes of adjustment and policy change can lead to different policymaking dynamics over the long term.

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Assessing the effects of Japanese industrial policy change during the 1960s

Journal of the Japanese and International Economies ◽

10.1016/j.jjie.2016.03.005 ◽

2016 ◽

Vol 40 ◽

pp. 31-42 ◽

Cited By ~ 8

Author(s):

Kozo Kiyota ◽

Tetsuji Okazaki

Keyword(s):

Policy Change ◽

Industrial Policy ◽

The 1960S

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Magara, H. and Sacchi S. (Eds) The Politics of Structural Reforms. Social and Industrial Policy Change in Italy and Japan, UK: Edward Elgar, 2013

Social Cohesion and Development ◽

10.12681/scad.10856 ◽

2016 ◽

Vol 11 (1) ◽

pp. 85

Author(s):

Andreas Feronas

Keyword(s):

Policy Change ◽

Industrial Policy ◽

Structural Reforms ◽

Edward Elgar

no abstract

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Globalization, Four Paths of Internationalization and Domestic Policy Change: The Case of EcoForestry in British Columbia, Canada

Canadian Journal of Political Science ◽

10.1017/s0008423900000044 ◽

2000 ◽

Vol 33 (1) ◽

pp. 67-99 ◽

Cited By ~ 80

Author(s):

Steven Bernstein ◽

Benjamin Cashore

Keyword(s):

Public Policy ◽

British Columbia ◽

Policy Change ◽

Domestic Policy ◽

Comparative Public Policy ◽

Transnational Relations ◽

Exogenous Shocks ◽

Policy Choices ◽

External Pressures ◽

Economic Forces

Governments appear increasingly constrained in their ability to make independent policy choices in an era of global economic finance and communication. As a result, scholars are more closely examining how actors, institutions and economic forces that extend beyond state borders can influence domestic public policies and politics. This scholarship on “globalization” and “transnational relations” serves as a corrective to a comparative public policy literature that has tended to treat external pressures as either exogenous shocks, or as simply other interests to which the state must respond.

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