Widen the Market, Narrow the Competition : Banker Interests and the Making of a European Capital Market / Daniel Műgge.
2010
HG186.A2 M84 2010 (Map It)
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Details
Author
Title
Widen the Market, Narrow the Competition : Banker Interests and the Making of a European Capital Market / Daniel Műgge.
Published
[Wivenhoe Park, Colchester, UK] : ECPR press, 2010.
Call Number
HG186.A2 M84 2010
ISBN
9781907301087
1907301089
1907301089
Description
viii, 187 pages : illustrations ; 24 cm .
System Control No.
(OCoLC)663950442
Bibliography, etc. Note
Includes bibliographical references (pages 159-175) and index.
Series
Record Appears in
Table of Contents
List of Figures and Tables
viii
ch. One
Introduction
1
Established Approaches and their Limits
3
The Argument: Banker Interests in EU Capital Markets
7
ch. Two
Competition Politics and Supranational Integration
13
European Integration
13
Financial Market Liberalisation and Regulation
18
Private and Public Actors in Regulatory Policy
22
The Competition Politics Approach
25
The Core Features of the Approach
29
ch. Three
The Domestic Roots of Regulatory Reform
31
European Capital Markets at the End of the 1980s
32
Regulatory Reform in German Managed Capitalism
35
Regulatory Reform in French State-led Capitalism
40
Regulatory Reform in British Market Capitalism
44
European State-market Condominiums in Comparison
49
ch. Four
Negotiating the Single Market
51
Financial Services in the Single Market Project
52
Negotiating a European Market in Investment Services
58
Competitive Fault Lines and Intergovernmental Politics
67
ch. Five
The 1990s' Capital Market Revolution in Europe
69
Measuring Change in EU Investment Banking Markets
70
Market Concentration as a Source of Economic and Political Power
72
The Rise of Capital Markets and Investment Banking in Europe
74
Explaining Internationalisation
80
European Bourses: From Members-only Clubs to Profit-Seeking Firms
88
ch. Six
The Re-launch of Financial Market Integration
93
Shifting Industry Preferences in the 1990s
94
The Emergence of EU-level Lobbying
98
EU Action and Industry-Commission Contacts Ahead of the FSAP
102
The FSAP, the ISD and the Forum Groups
106
ch. Seven
The Emergence of Supranational Governance
109
Supranational Cooperation before Lamfalussy
110
Launching Institutional Change
111
Negotiating Lamfalussy
113
Supranational Governance in Practice
120
Industry Interests and Institutional Reform
122
ch. Eight
Renegotiating the ISD in the Supranational Constellation
125
European Lobbying Transformed
126
Lamfalussy in Action: Renegotiating the ISD
133
Clearing and Settlement: The Persistence of National Competition Politics
139
The supranational constellation in EU capital market governance
141
ch. Nine
Conclusion
143
Banker Interests in EU Capital Market Integration
143
EU Capital Market Governance and The Crisis
148
Governing Finance in the Interest of All?
151
Appendices
155
Overview of the International Expansion of European Banks
155
References
159
List of Interviews
176
Index
179