Are groups act as the financial sector responsible for passive policies, or are political “form” are subjected? This article answers this question with three arguments concerning the power policy of the financial sector in regard to international financial standards. First, industry groups face a number of additional challenges when international pressure regulators, which tend to be more opaque in its decision-making and more difficult to hold accountable when they make unpopular decisions. Second, while these groups are sometimes able to shape the politics of financial regulation, the magnitude of this influence is partial and contingent that most depictions suggest. The third argument is that since the global financial crisis, business groups have had many of their traditional advocacy tools affected, putting pressure on a tougher battle than before. Financial industry groups are able to influence the government of their own activities and act as “responsible politicians” from time to time but are not as well positioned in this paper that many existing representations seem to suggest.
by
Kevin Young
Source: Business Horizons
11 pages.
Date Posted: November 15, 2013. Prod #: BH565-PDF-ENG
policy makers and decision makers? Lobbying Case global regulatory banking solutions
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