Transnational Financial Regulation after the Crisis

In the early stages of the 2007/8 global financial crisis it seemed likely that the severity of the crisis could provoke dramatic changes in the architecture of global finance. However subsequently it has been challenging to interpret the regulatory response. Are there significant changes, or are we witnessing a return to the pre-crisis status quo? What accounts for change or lack of change?

This book provides a comprehensive and focused overview of the changing dynamics between public and private forms of transnational financial regulation, addressing recent and emerging trends in the wake of the Global Financial Crisis. With chapters on the International Monetary Fund, the Financial Stability Board, bank regulation, derivatives regulation, and macro-prudential regulation, the authors address five issue areas critical to gaining a broad and deep understanding of the contemporary dynamics of transnational financial regulation:

1. The trend towards – or away from – regulatory harmonization.
2. The problem of coordination in transnational financial regulation.
3. The agency and influence of private financial actors in the regulatory process.
4. Accountability and legitimacy in transnational financial regulation.
5. The growing complexity in transnational financial regulation.

Making a substantial conceptual and methodological contribution it will be essential reading for students and scholars of IPE, global economic governance, transnational regulation and finance.

Tony Porter is a Professor in the Department of Political Science and Associate Dean of Graduate Studies and Research at McMaster University, Canada.