{"id":"https://openalex.org/W209769312","doi":null,"title":"The bankers\u2019 paradox: the political economy of macroprudential regulation","display_name":"The bankers\u2019 paradox: the political economy of macroprudential regulation","publication_year":2015,"publication_date":"2015-04-29","ids":{"openalex":"https://openalex.org/W209769312","mag":"209769312"},"language":"en","primary_location":{"id":"pmh:oai:researchonline.lse.ac.uk:61998","doi":null,"is_oa":false,"landing_page_url":"https://researchonline.lse.ac.uk/id/eprint/61998/1/dp-37.pdf","pdf_url":"https://researchonline.lse.ac.uk/id/eprint/61998/1/dp-37.pdf","source":{"id":"https://openalex.org/S4306400050","display_name":"London School of Economics and Political Science Theses Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Working paper"},"volume":null,"type":"report","is_traditional":false,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://eprints.lse.ac.uk/61998/1/dp-37.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5073078158","display_name":"Andrew Baker","orcid":"https://orcid.org/0000-0001-6677-930X","observed_orcids":["https://orcid.org/0000-0001-6677-930X"]},"institutions":[{"id":"https://openalex.org/I126231945","display_name":"Queen's University Belfast","ror":"https://ror.org/00hswnk62","country_code":"GB","type":"education","lineage":["https://openalex.org/I126231945"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Andrew Baker","raw_affiliation_strings":["Queen\u2019s University Belfast#TAB#"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Queen\u2019s University Belfast#TAB#","institution_ids":["https://openalex.org/I126231945"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5073078158"],"corresponding_institution_ids":["https://openalex.org/I126231945"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":9,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13074","display_name":"Global Financial Regulation and Crises","score":0.9077000021934509,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T13074","display_name":"Global Financial Regulation and Crises","score":0.9077000021934509,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.08780000358819962,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12185","display_name":"Regulation and Compliance Studies","score":0.0008999999845400453,"subfield":{"id":"https://openalex.org/subfields/3321","display_name":"Public Administration"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/macroprudential-regulation","display_name":"macroprudential regulation","score":0.9940000176429749},{"id":"https://openalex.org/keywords/central-bank-independence","display_name":"central bank independence","score":0.7429999709129333},{"id":"https://openalex.org/keywords/depoliticization","display_name":"depoliticization","score":0.9010000228881836},{"id":"https://openalex.org/keywords/post-crisis-financial-regulation","display_name":"post-crisis financial regulation","score":0.6169999837875366}],"concepts":[{"id":"https://openalex.org/C2776050585","wikidata":"https://www.wikidata.org/wiki/Q7439360","display_name":"Scrutiny","level":2,"score":0.7139248251914978},{"id":"https://openalex.org/C46295352","wikidata":"https://www.wikidata.org/wiki/Q207982","display_name":"Legitimacy","level":3,"score":0.7098718881607056},{"id":"https://openalex.org/C185656870","wikidata":"https://www.wikidata.org/wiki/Q190044","display_name":"Technocracy","level":3,"score":0.6953016519546509},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.6230467557907104},{"id":"https://openalex.org/C2779957021","wikidata":"https://www.wikidata.org/wiki/Q6725585","display_name":"Macroprudential regulation","level":4,"score":0.5792526006698608},{"id":"https://openalex.org/C510755694","wikidata":"https://www.wikidata.org/wiki/Q281095","display_name":"Financial regulation","level":2,"score":0.557458758354187},{"id":"https://openalex.org/C138921699","wikidata":"https://www.wikidata.org/wiki/Q47555","display_name":"Political economy","level":1,"score":0.5495162010192871},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5168302655220032},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.4493268132209778},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.35854846239089966},{"id":"https://openalex.org/C144587487","wikidata":"https://www.wikidata.org/wiki/Q1369234","display_name":"Systemic risk","level":3,"score":0.3568471074104309},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.3453327417373657},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.2801397740840912},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.1719154715538025},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.12506109476089478}],"mesh":[],"locations_count":5,"locations":[{"id":"pmh:oai:researchonline.lse.ac.uk:61998","doi":null,"is_oa":false,"landing_page_url":"https://researchonline.lse.ac.uk/id/eprint/61998/1/dp-37.pdf","pdf_url":"https://researchonline.lse.ac.uk/id/eprint/61998/1/dp-37.pdf","source":{"id":"https://openalex.org/S4306400050","display_name":"London School of Economics and Political Science Theses Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Working paper"},{"id":"pmh:oai:eprints.lse.ac.uk:61998","doi":null,"is_oa":true,"landing_page_url":"http://eprints.lse.ac.uk/61998/1/dp-37.pdf","pdf_url":"http://eprints.lse.ac.uk/61998/1/dp-37.pdf","source":{"id":"https://openalex.org/S4306401593","display_name":"London School of Economics and Political Science Research Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Monograph"},{"id":"mag:209769312","doi":null,"is_oa":false,"landing_page_url":"http://eprints.lse.ac.uk/61998/1/dp-37.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S2764460092","display_name":"LSE Research Online Documents on Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":"https://openalex.org/P4361727514","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/P4361727514","https://openalex.org/P4310311730"],"host_organization_lineage_names":["London School of Economics and Political Science","University of London"],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"LSE Research Online Documents on Economics","raw_type":null},{"id":"mag:3148266812","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:ehl:lserod:61998","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:ehl:lserod:61998","doi":null,"is_oa":false,"landing_page_url":"http://eprints.lse.ac.uk/61998/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"pmh:oai:eprints.lse.ac.uk:61998","doi":null,"is_oa":true,"landing_page_url":"http://eprints.lse.ac.uk/61998/1/dp-37.pdf","pdf_url":"http://eprints.lse.ac.uk/61998/1/dp-37.pdf","source":{"id":"https://openalex.org/S4306401593","display_name":"London School of Economics and Political Science Research Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Monograph"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G5679285094","display_name":null,"funder_award_id":"ES/K002309/1","funder_id":"https://openalex.org/F4320329632","funder_display_name":"Systemic Risk Centre"},{"id":"https://openalex.org/G8430814231","display_name":"Systemic Risk Centre","funder_award_id":"ES/K002309/1","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"}],"funders":[{"id":"https://openalex.org/F4320329632","display_name":"Systemic Risk Centre","ror":"https://ror.org/05d88z031"},{"id":"https://openalex.org/F4320334630","display_name":"Economic and Social Research Council","ror":"https://ror.org/03n0ht308"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W209769312.pdf","grobid_xml":"https://content.openalex.org/works/W209769312.grobid-xml"},"referenced_works_count":52,"referenced_works":["https://openalex.org/W4371184","https://openalex.org/W1512502407","https://openalex.org/W1528857264","https://openalex.org/W1533260100","https://openalex.org/W1555136749","https://openalex.org/W1568092302","https://openalex.org/W1589134488","https://openalex.org/W1843862296","https://openalex.org/W1921597804","https://openalex.org/W1945199243","https://openalex.org/W1973891309","https://openalex.org/W1992680417","https://openalex.org/W1999967289","https://openalex.org/W2004254329","https://openalex.org/W2017692451","https://openalex.org/W2037102228","https://openalex.org/W2046390963","https://openalex.org/W2068167520","https://openalex.org/W2072447383","https://openalex.org/W2098081855","https://openalex.org/W2098946242","https://openalex.org/W2102259761","https://openalex.org/W2107455791","https://openalex.org/W2110082788","https://openalex.org/W2121255310","https://openalex.org/W2126056404","https://openalex.org/W2127493278","https://openalex.org/W2131773668","https://openalex.org/W2132773002","https://openalex.org/W2145347815","https://openalex.org/W2149245839","https://openalex.org/W2150644957","https://openalex.org/W2155116598","https://openalex.org/W2158366291","https://openalex.org/W2164002832","https://openalex.org/W2164304100","https://openalex.org/W2167468761","https://openalex.org/W2316793683","https://openalex.org/W2335567330","https://openalex.org/W2496600757","https://openalex.org/W2752384816","https://openalex.org/W2953701122","https://openalex.org/W3121772190","https://openalex.org/W3123337418","https://openalex.org/W3123949599","https://openalex.org/W3124157007","https://openalex.org/W3125026396","https://openalex.org/W3125677162","https://openalex.org/W3125762300","https://openalex.org/W3125914589","https://openalex.org/W3141891866","https://openalex.org/W4211122996"],"related_works":["https://openalex.org/W4307488325","https://openalex.org/W2083628417","https://openalex.org/W2253818167","https://openalex.org/W7111478083","https://openalex.org/W169883731","https://openalex.org/W2901568798","https://openalex.org/W2129673607","https://openalex.org/W2073279077","https://openalex.org/W2215301890","https://openalex.org/W2884043968"],"abstract_inverted_index":{"Macroprudential":[0],"regulation,":[1],"which":[2,109],"has":[3],"emerged":[4],"as":[5],"a":[6,14,23,92,105,137,144],"new":[7],"departure":[8],"in":[9,22,148,174],"financial":[10,19,73],"regulation":[11,58,133,185],"(albeit":[12],"with":[13,37,196],"longer":[15],"heritage),":[16],"since":[17],"the":[18,52,72,79,112,120,169,175],"crash,":[20],"is":[21,104,134,168],"fluid,":[24],"evolving":[25],"and":[26,41,75,97,119,125,163,193],"highly":[27],"experimental":[28],"phase.":[29],"Understanding":[30],"its":[31],"future":[32],"political":[33,54,98,165,179],"economy":[34,55],"requires":[35],"engaging":[36],"macroprudential's":[38],"constituent":[39],"concepts":[40],"how":[42],"they":[43],"interrelate":[44],"to":[45,84,86,111,157,160,187],"one":[46],"another.":[47],"This":[48,167],"paper":[49],"argues":[50],"that":[51,70,141,147],"emerging":[53],"of":[56,66,102,114,122,177,190],"macroprudential":[57,80,89,129,132,184],"revolves":[59],"around":[60],"five":[61],"paradoxes.":[62,99],"The":[63,100],"first":[64],"three":[65],"these":[67,87,103],"are":[68,76],"paradoxes":[69],"characterise":[71],"system":[74],"identified":[77],"by":[78],"perspective.":[81],"In":[82],"seeking":[83],"respond":[85],"paradoxes,":[88],"policy,":[90],"generates":[91],"further":[93],"two":[94],"distinctly":[95],"institutional":[96],"last":[101],"central":[106,116,152,171],"bankers'":[107],"paradox":[108,173,192],"relates":[110],"source":[113],"independent":[115],"bank":[117],"authority":[118,159],"difficulty":[121],"building":[123],"legitimacy":[124],"public":[126],"support":[127],"for":[128],"regulation.":[130],"Functioning":[131],"about":[135],"executing":[136],"technocratic":[138],"control":[139],"project":[140],"rests":[142],"on":[143],"depoliticisation":[145],"strategy,":[146],"turn":[149],"risks":[150],"politicising":[151],"banks,":[153],"exposing":[154],"their":[155],"claims":[156],"technical":[158],"critical":[161],"scrutiny":[162],"potential":[164],"backlash.":[166],"ultimate":[170],"bankers\u2019":[172],"era":[176],"post-crash":[178],"economy.":[180],"Central":[181],"banks":[182],"conducting":[183],"need":[186],"be":[188],"aware":[189],"this":[191],"handle":[194],"it":[195],"great":[197],"care.":[198]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":2}],"updated_date":"2026-11-06T12:05:46.655746","created_date":"2016-06-24T00:00:00"}