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Global finance and capital adequacy requirements : recreating capitalist social relations
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Rogers, Chris (Christopher James) (2018) Global finance and capital adequacy requirements : recreating capitalist social relations. Review of Radical Political Economics , 50 (1). pp. 66-81. doi:10.1177/0486613416666510
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Official URL: https://doi.org/10.1177/0486613416666510
Abstract
The paper argues that capital adequacy regulation has served to recreate the neoliberal form of capitalist social relations. It identifies two dimensions to this process. First, the paper argues that financialization has become increasingly important for securing political legitimacy in several states, and that capital adequacy regulation in historical perspective can be understood to have incentivized, facilitated, and legitimated the kind of arbitrage that allow it to proceed. Second, it argues that in the contemporary context, revisions to capital adequacy requirements serve to discipline mutual and co-operative forms of finance by encouraging them to engage more explicitly in profit-seeking, introducing a homogenizing dynamic into the financial sector despite regulators’ belief that systemic diversity is a key feature of promoting stability
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HB Economic Theory K Law [Moys] > KC International Law |
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| Divisions: | Faculty of Social Sciences > Politics and International Studies | ||||||||
| Library of Congress Subject Headings (LCSH): | Banks and banking, International -- Law and legislation, Global Financial Crisis, 2008-2009, Financial services industry | ||||||||
| Journal or Publication Title: | Review of Radical Political Economics | ||||||||
| Publisher: | Sage Publications, Inc. | ||||||||
| ISSN: | 0486-6134 | ||||||||
| Official Date: | 1 March 2018 | ||||||||
| Dates: |
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| Date of first compliant deposit: | 22 April 2016 | ||||||||
| Volume: | 50 | ||||||||
| Number: | 1 | ||||||||
| Page Range: | pp. 66-81 | ||||||||
| DOI: | 10.1177/0486613416666510 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| RIOXX Funder/Project Grant: |
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