What's Changed? The Political Economy of Financial Reform Since 2008 (2016–2018)
We aim to chart, assess and explain the politics and policy associated with banking and financial sector reform in the wake of the 2008 financial crisis in the US, UK Europe, Australia and Canada. Our key aims are to: (1) extend our previous work to develop a firm-level model of financial risk and instability; (2) use that model as a baseline to assess the post-crisis reform policy process; and (3) explain inter-country variation in and the limits of post-crisis policy reform. One particular focus is upon the relationship between competition and financial stability prior to and since the 2008 crisis. To what extent did competitive pressures drive risk-taking in the US, UK and Europe? Have such pressures receded since 2008?