Financial Services, Globalization And Domestic Policy Change (international Political Economy Series)

The global scope of the changes in the international financial and monetary systems ensured that no nation-state could protect itself from their effects. The quarter-century, 1970-95, included the most extensive legislative overhaul of financial services policy since the Great Depression, if not the greatest set of changes ever. This book examines how five such states - Canada, France, Germany, UK, USA - adapted by reforming their financial services policies. The global scope of the changes in the international financial and monetary systems ensured that no nation-state could protect itself from their effects. The quarter-century from 1970 to 1995 included the most extensive legislative overhaul of financial services policy since the Great Depression, if not the greatest set of changes ever. This book examines how such states - Canada, France, Germany, the United Kingdom, the United States - adapted by reforming their financial services policies. By adaptation, the book refers to their ability to devise policy strategies that create an open and democratic policy process, that protect consumers of financial services and that give governments some continuing control over domestic financial services markets. Front Matter....Pages i-xv Financial Globalization, Political Institutions and Democracy: An Overview....Pages 1-15 Front Matter....Pages 17-17 Comparative Structures of Financial Services....Pages 19-46 Financial Services, Interest Intermediation and Political Power....Pages 47-66 State Capacity, Political Power and Policy Networks....Pages 67-93 Front Matter....Pages 95-95 France: Relaxing Dirigisme ....Pages 97-121 Germany: Protecting Bank Power....Pages 123-147 The United States: Booting the Ball?....Pages 149-173 The United Kingdom: Threadneedle Street Ascendant....Pages 175-199 Canada: Federalism and Bank Power....Pages 201-225 Conclusion....Pages 227-240 Back Matter....Pages 241-297 The quarter century from 1970 to 1995 included the most extensive legislative overhaul of financial services policy since the Great Depression. This study examines how five states - Canada, France, Germany, the UK and the USA - adapted by reforming their financial services policies.