Oct 19, 2016
Why did banking regulators from different countries develop different regulatory regimes in the years leading up to the recent global financial crisis, despite subscribing to the same transnational regulatory agreement (the 1988 Basel Capital Accord)?
This presentation focuses on the divergent regulation of asset securitization in the U.S., Canada, and Spain. Drawing from archival material and in-depth interviews with banking regulators, Pernell-Gallagher argues that American, Canadian, and Spanish regulators made different choices because they subscribed to fundamentally different conceptions of economic order. She highlights how sociological institutions structure policymaking, and explains how the outcomes of regulation are shaped by financial incentives, power dynamics, and regulators’ fundamental beliefs about what is true.
Hosted by the Department of Sociology
Kimberly Pernell-Gallagher, Assistant Professor of Sociology, University of Toronto
Wednesday, Oct. 26, 2016
3:30pm – 5pm