Showing 1 - 10 of 59,033
One explanation for the poor performance of regulation in the recent financial crisis is that regulators had been captured by the financial sector. We present a micro-founded model with rational agents in which banks may capture regulators due to their high degree of sophistication. Banks can...
Persistent link: https://www.econbiz.de/10010338301
In this chapter, our goal is to discuss whether and how bank lobbying in the United States leads to regulatory capture …. First, we provide an overview of the importance of and motivations behind bank lobbying. Second, we examine the impact of … lobbying on banking regulation and supervision by reviewing recent empirical evidence. Third, we discuss the effect of the …
Persistent link: https://www.econbiz.de/10012926772
In this paper, we discuss whether and how bank lobbying can lead to regulatory capture and have real consequences … through an overview of the motivations behind bank lobbying and of recent empirical evidence on the subject. Overall, the … interpreted as a call for an outright ban of lobbying, they point in the direction of a need for rethinking the framework …
Persistent link: https://www.econbiz.de/10013250099
This study examines whether state-owned banks face political pressure and whether the improvement in political institutions alleviates this pressure. The theory of political benefits argues that politicians use state-owned banks for political purposes such as obtaining and maintaining political...
Persistent link: https://www.econbiz.de/10011895721
this event, firms with little or no prior exposure to the federal accounts that experienced cuts reduced their lobbying … spending. In contrast, firms with a high degree of exposure to the cuts maintained and even increased their lobbying spending … likely intensified their lobbying efforts to distinguish themselves from the others and improve their chances of procuring a …
Persistent link: https://www.econbiz.de/10012864096
recent financial crisis? This paper discusses the findings of recent research that uses a detailed database of the lobbying … 2006 in the United States. The evidence suggests that spending on lobbying by the financial industry and network … effectiveness of lobbying activities. In addition, lobbying was associated with more risk-taking during 2000-07 and with worse …
Persistent link: https://www.econbiz.de/10010840611
Persistent link: https://www.econbiz.de/10011946820
In this paper we examine the empirical relevance of three prominent endogenous protection models. Is protection for sale, or do altruistic policy makers worry about political support? We find strong evidence that protection is indeed for sale. The important new result is, however, that not only...
Persistent link: https://www.econbiz.de/10011397792
Using a model of repeated agency, we explain previously unexplained features of the real-world lobbying industry …. Lobbying is divided between direct representation by special interests to policymakers, and indirect representation where … analytical structure allows us to explain several trends in lobbying. For example, using the observation that in the U.S. over …
Persistent link: https://www.econbiz.de/10011444131
Congress roll call votes on financial liberalisation were biased by industry-led campaign contributions and lobbying activities …
Persistent link: https://www.econbiz.de/10014370438