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Author: Thomas Lambert
Publisher:
ISBN:
Category :
Languages : en
Pages : 57
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Book Description
This paper analyzes the relationship between bank lobbying and supervisory decisions of regulators, and documents its moral hazard implications. Exploiting bank-level information on the universe of commercial and savings banks in the United States, I find that regulators are 44.7 percent less likely to initiate enforcement actions against lobbying banks. This result is robust across measures of lobbying, and accounts for endogeneity concerns by employing instrumental variables strategies. In addition, I show that lobbying banks are riskier and reliably underperform their non-lobbying peers. Overall, these results appear rather inconsistent with an information-based explanation of bank lobbying, but consistent with the theory of regulatory capture.
Author: Thomas Lambert
Publisher:
ISBN:
Category :
Languages : en
Pages : 57
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Book Description
This paper analyzes the relationship between bank lobbying and supervisory decisions of regulators, and documents its moral hazard implications. Exploiting bank-level information on the universe of commercial and savings banks in the United States, I find that regulators are 44.7 percent less likely to initiate enforcement actions against lobbying banks. This result is robust across measures of lobbying, and accounts for endogeneity concerns by employing instrumental variables strategies. In addition, I show that lobbying banks are riskier and reliably underperform their non-lobbying peers. Overall, these results appear rather inconsistent with an information-based explanation of bank lobbying, but consistent with the theory of regulatory capture.
Author: Ms.Deniz O Igan
Publisher: International Monetary Fund
ISBN: 1484347544
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
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 findings are consistent with regulatory capture, which lessens the support for tighter rules and enforcement. This in turn allows riskier practices and worse economic outcomes. The evidence provides insights into how the rising political power of banks in the early 2000s propelled the financial system and the economy into crisis. While these findings should not be interpreted as a call for an outright ban of lobbying, they point in the direction of a need for rethinking the framework governing interactions between regulators and banks. Enhanced transparency of regulatory decisions as well as strenghtened checks and balances within the decision-making process would go in this direction.
Author: Emilios Avgouleas
Publisher: Cambridge University Press
ISBN: 110847036X
Category : Business & Economics
Languages : en
Pages : 531
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Book Description
Examines the law and policy of financial regulation using a combination of conceptual analysis and strong empirical research.
Author: Mr.Thierry Tressel
Publisher: International Monetary Fund
ISBN: 1451874324
Category : Business & Economics
Languages : en
Pages : 72
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Book Description
Using detailed information on lobbying and mortgage lending activities, we find that lenders lobbying more on issues related to mortgage lending (i) had higher loan-to-income ratios, (ii) securitized more intensively, and (iii) had faster growing portfolios. Ex-post, delinquency rates are higher in areas where lobbyist' lending grew faster and they experienced negative abnormal stock returns during key crisis events. The findings are robust to (i) falsification tests using lobbying on issues unrelated to mortgage lending, (ii) a difference-in-difference approach based on state-level laws, and (iii) instrumental variables strategies. These results show that lobbying lenders engage in riskier lending.
Author: Ms.Deniz O Igan
Publisher: International Monetary Fund
ISBN: 1513511238
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
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 findings are consistent with regulatory capture, which lessens the support for tighter rules and enforcement. This in turn allows riskier practices and worse economic outcomes. The evidence provides insights into how the rising political power of banks in the early 2000s propelled the financial system and the economy into crisis. While these findings should not be interpreted as a call for an outright ban of lobbying, they point in the direction of a need for rethinking the framework governing interactions between regulators and banks. Enhanced transparency of regulatory decisions as well as strenghtened checks and balances within the decision-making process would go in this direction.
Author: Raj Chari
Publisher: Manchester University Press
ISBN: 1526117266
Category : Political Science
Languages : en
Pages : 150
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Book Description
Governments worldwide are developing sunshine policies that increase transparency in politics, where a key initiative is regulating lobbyists. Building on the pioneering first edition, this book updates its examination of all jurisdictions with regulations, from the Americas, Europe, Middle East, Asia, and Australia. Unlike any book, it offers unique insights into how the regulations compare and contrast against each other, offering a revamped theoretical classification of different regulatory environments and situating each political system therein. This edition innovatively considers different measurements to capture the robustness of lobbying laws in terms of promoting transparency and accountability. And, based on the authors’ experience of advising governments globally, it closes with a no-nonsense guide on how to make a lobbying law. This is of value to policymakers seeking to introduce or amend regulations, and lobbyists seeking to influence this process.
Author: Louise I. Gerdes
Publisher: Greenhaven Publishing LLC
ISBN: 0737768649
Category : Young Adult Nonfiction
Languages : en
Pages : 113
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Book Description
The passage of Citizens United by the Supreme Court in 2010 sparked a renewed debate about campaign spending by large political action committees, or Super PACs. Its ruling said that it is okay for corporations and labor unions to spend as much as they want in advertising and other methods to convince people to vote for or against a candidate. This book provides a wide range of opinions on the issue. Includes primary and secondary sources from a variety of perspectives; eyewitnesses, scientific journals, government officials, and many others.
Author: Pat Libby and Associates
Publisher: SAGE
ISBN: 1452239150
Category : Social Science
Languages : en
Pages : 321
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Book Description
Inspiring students to take action! The Lobbying Strategy Handbook shows how students with passion for a cause can learn to successfully influence lawmaking in the United States. The centerpiece of this book is a 10-step framework that walks the reader through the essential elements of conducting a lobbying campaign. The framework is illustrated by three separate case studies that show how groups of people have successfully used the model. Undergraduate, graduate students, and anyone interested in making a difference, can use the book to guide them in creating and conducting a grassroots campaign from start to finish. Video: Lobbying Is NOT a 4-Letter Word Author Pat Libby, Professor of Practice and Director of the Institute for Nonprofit Education and Research, University of San Diego, discusses lobbying rules and strategy in her video presentation, Lobbying Is NOT a 4-Letter Word. Discover more about the author and the book here:
Author: OECD
Publisher: OECD Publishing
ISBN: 9264214224
Category :
Languages : en
Pages : 228
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Book Description
This report takes stock of progress made in implementing the 2010 Recommendation on Principles for Transparency and Integrity in Lobbying – the only international instrument addressing major risks in the public decision-making process related to lobbying.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264084940
Category :
Languages : en
Pages : 128
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Book Description
This second volume of OECD's study on lobbying examines regulation and self-regulation of lobbying.
