The Politics of Regulation in Ireland

2021 ◽  
pp. 646-667
Author(s):  
Colin Scott
Keyword(s):  
Financial Regulation ◽  
Global Financial Crisis ◽  
Interesting Case ◽  
Global Trends ◽  
Regulatory Governance ◽  
Global Trend ◽  
National Characteristics ◽  
Regulatory Capacity ◽  
The Global Financial Crisis

There has been a global trend towards greater dependence on regulation since the 1980s. This chapter examines how this has played out in Ireland. Ireland offers an interesting case study of regulatory governance because of the long-standing practice of delegating key welfare functions to NGOs, which established the early Irish state as regulator as well as direct service provider. Subsequently, changes in state structures align to wider global trends towards regulatory governance. Nevertheless, there are also particular national characteristics, with significant weaknesses in regulatory capacity and with respect to accountability. Arguably, the global financial crisis, and the ensuing crises that hit Ireland from 2008, have shifted regulation towards a less exceptional model, with better established independent capacity over financial regulation, and, following a longer trend, growing independent provision for overseeing government. Within Ireland, there is a growing recognition that effective regulation of business and government is becoming a core doctrine.

Macroprudential Policy - Taxonomy and Challenges

2011 ◽  
Vol 216 ◽  
pp. R1-R15 ◽  
Author(s):  
Erland W. Nier
Keyword(s):  
Financial Crisis ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Policy Framework ◽  
Macroprudential Policy ◽  
Macroprudential Policies ◽  
The Global Financial Crisis ◽  
Governance Arrangements ◽  
Country Specific

There is increasing recognition that prior to the global financial crisis financial regulation had lacked a macroprudential perspective. There has since been a strong effort to make a new macroprudential orientation operational, including through the establishment of new macroprudential authorities or ‘committees’ in a number of jurisdictions. These developments raise — and this paper explores — the following three questions. First, what distinguishes macroprudential policy from microprudential policy and what are its key tasks? Second, what powers should be given to macroprudential authorities and what should be their mandate? Third, how can governance arrangements ensure that macroprudential policies are pursued effectively? While arrangements for macroprudential policy will to some extent be country-specific, we identify three basic challenges in setting up an effective macroprudential policy framework and discuss options to address them.

Social work mobility in Europe: a case study from Ireland

2018 ◽  
Author(s):  
Trish Walsh ◽  
George Wilson ◽  
Erna O’Connor
Keyword(s):  
Social Work ◽  
Northern Ireland ◽  
Global Financial Crisis ◽  
Mobility Patterns ◽  
Worker Mobility ◽  
The Republic ◽  
The Global Financial Crisis ◽  
The Uk ◽  
National Governments

Social work has been viewed as one of the most nation-specific of the professions, ‘being closely tied up with national traditions, mentalities and institutions’ (Kornbeck, 2004, p 146). In addition, the political imperatives of national governments, austerity measures and managerialism drive approaches to service delivery which may supersede social work’s professional priorities. This militates against an automatic or easy transfer of professional knowledge from one country to another. In spite of this, there has been an enduring interest in developing international forms of social work that transcend national borders (Gray and Fook, 2004; Lyons et al, 2012). In this chapter, we present a case study of social worker mobility as it has evolved from the establishment of the first national social work registration body in the Republic of Ireland in 1997 with a particular focus on data from 2004-13 capturing the years leading up to, and in the aftermath of, the global financial crisis of 2008. We contrast this with the situation in Northern Ireland (NI), part of the UK and a separate and distinct political and legal entity with its own policies and practices. We draw on statistical and descriptive data provided by Irish social work registration bodies (NSWQB 1997-2011; CORU established in 2011 and NISCC, the Northern Ireland Social Care Council established in 2001) to illustrate (i) how sensitive contemporary mobility patterns are to changing economic and political factors; (ii) how rapidly patterns of mobility change and (iii) how much more mired in complexity European social work mobility is likely to be if the European project itself fractures, as is possible following the Brexit referendum vote in the UK.

scholarly journals Financial cycle − A critical analysis of the methodology for its identification

2021 ◽  
Vol 10 (3) ◽  
pp. 99-116
Author(s):  
Łukasz Kurowski
Keyword(s):  
Economic Policy ◽  
Critical Analysis ◽  
Global Financial Crisis ◽  
Critical Perspective ◽  
Financial Cycle ◽  
Economic Justification ◽  
The Business Cycle ◽  
The Global Financial Crisis

Abstract While the legitimacy of the concept of the financial cycle (as distinct from the business cycle) in research and economic policy after the experience of the global financial crisis raises no concerns, the methodology for its application has become a subject of discussion. The purpose of this article is to indicate which research methods dominate in identifying a financial cycle and which methodological traps accompany them. The low level of critical perspective on the methods used to identify cycles often results in conclusions that have no economic justification and may result in erroneous decisions in economic policy and central bank practice. The case study carried out in the article confirms that the key elements in identifying a financial cycle are part of a long-term series covering at least two lengths of the financial cycle. In addition, because the results may be sensitive to the type of filter used, it is important not to rely on a single variable but rather to build indexes that take into account a number of them (including those obtained using filtration methods).

The Problem in Detail

2019 ◽  
pp. 35-93
Author(s):  
Thomas Kalinowski
Keyword(s):  
Financial Regulation ◽  
Global Financial Crisis ◽  
Historical Overview ◽  
International Conflicts ◽  
International Regulation ◽  
Macroeconomic Coordination ◽  
Currency Competition ◽  
The Global Financial Crisis ◽  
Political Economic

This chapter sets the stage for the empirical investigation of the domestic political economic sources of international conflicts and cooperation. It consists of four parts. First, it gives a general brief historical overview over the problems of the international regulation of finance since nineteenth-century imperialism until the global financial crisis that started in 2008. Second, it introduces the G20 as the main forum for global economic cooperation. Third, it offers an overview of the different reactions to the global economic crisis since 2008. Fourth, it introduces the major conflicts in the G20 about the international regulation of finance in the three crucial areas identified in Chapter 1: global imbalances and macroeconomic coordination, financial globalization and financial regulation, as well as currency competition and management.

Transparency Regulation in Financial Markets – Moving into the Surveillance Age?

2011 ◽  
Vol 2 (3) ◽  
pp. 305-321
Author(s):  
Iris H-Y Chiu
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Financial Sector ◽  
Regulatory Control ◽  
Legal Reforms ◽  
The Global Financial Crisis ◽  
Risk Oversight

In the wake of the global financial crisis, the trajectory of legal reforms is likely to turn towards more transparency regulation. This article argues that transparency regulation will take on a new role of surveillance as intelligence and data mining expand in the wholesale financial sector, supporting the creation of designated systemic risk oversight regulators.The role of market discipline, which has been acknowledged to be weak leading up to the financial crisis, is likely to be eclipsed by a more technocratic governance in the financial sector. In this article, however, concerns are raised about the expansion of technocratic surveillance and whether financial sector participants would internalise the discipline of regulatory control. Certain endemic features of the financial sector will pose challenges for financial regulation even in the surveillance age.

The GATS and Financial Regulation: Time to Clear-House?

2019 ◽  
Vol 19 (3) ◽  
pp. 379-401 ◽  
Author(s):  
George A. Papaconstantinou
Keyword(s):  
Financial Services ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Trade Law ◽  
International Economic Law ◽  
The Stability ◽  
Domestic Regulation ◽  
First Time ◽  
The Eu

AbstractIn the aftermath of the 2008 global financial crisis, European Union regulators introduced the mechanism of ‘third-country equivalence’ for non-European financial institutions to access the EU internal market. This article evaluates for the first time the GATS-consistency of the European rules on third-country clearinghouses. Through this exercise, the article sheds light on the tension between financial regulation and WTO law, exploring how these two different disciplines can be reconciled. Building on the international economic law principles of non-discrimination and transparency, the analysis reveals that the European financial regulation could negatively impact the access of smaller countries to the EU market. The regulation in question is assessed under the GATS Article VI (Domestic Regulation), Article II (MFN), Article VII (Recognition), and the Annex on Financial Services prudential carve-out. The findings of the European case study indicate that the vast flexibility that trade law has delegated to national regulators possibly has adverse effects on the liberalization of financial services. The article concludes that if WTO Members do not derogate from their GATS obligations and commitments, the stability of the financial system would not be jeopardized, while the prospect of international integration would be increased.

scholarly journals Global Financial Crisis of Islamic and Conventional Banking in Middle East – A Case Study in Turkey

2017 ◽  
Vol 9 (8) ◽  
pp. 239
Author(s):  
Ayman Abdal-Majeed Ahmad Al-Smadi ◽  
Mahmoud Khalid Almsafir ◽  
Muzamri Bin Mukthar
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Banking System ◽  
Financial System ◽  
Secondary Data ◽  
Islamic Banking ◽  
The Social ◽  
The Global Financial Crisis ◽  
The Impact

The financial tools all over the world become extremely decisive in these days. The main goal of this paper is to measure then to discuss the impact of performance of conventional and Islamic banking in Turkey during the financial crisis. some variables such as profitability, liquidity, operational efficiency and business growth are used as a measuring factor to determine the performance for both financial models. The period of study is taken during the financial crisis in 1997 and during the global financial crisis in 2007. The comparison in this study is made between the performances of Islamic banking  and conventional banking in Turkey.Some secondary data had examines in this study which was drown from the annual report from one of Turkey bank since 2002 until 2013. SPSS (Statistical Package for the Social Sciences) “18.0” has been used to compare between Islamic finance model and other model. The findings of this paper shows that Islamic financial system is performing superior than conventional financial system for the period of this study. Hence, it can be concluded that the system of Islamic banking is able to sustain and compete with the conventional banking system especially during any financial crisis.

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