The Political Economy of Financial Regulation

Emilios Avgouleas holds the International Banking Law and Finance Chair at the University of Edinburgh where he founded and has directed the LL.M. in International Banking Law and Finance. An internationally renowned scholar in the field of banking theory and financial regulation he has also published extensively in the fields of International and European finance law and economics, behavioural finance, and global economic governance. He is a Member of the Stakeholder Group of the European Banking Authority (EBA) elected in the so-called 'top-ranking' academics section. He has held visiting posts with leading academic institutions and he is currently a visiting Research Professor at the Faculty of Law, University of Hong Kong (HKU) and a Visiting Professor and Senior Fellow at the School of European Political Economy, Libera Università Internazionale degli Studi Sociali 'Guido Carli'. He holds an LL.M. and a Ph.D. in Law and Finance from the London School of Economics and Political Science. David C. Donald has been a Professor in the Faculty of Law at The Chinese University of Hong Kong since 2008. From 2003 until 2008, David taught at the Institute for Law and Finance of Goethe University. For the decade preceding that he worked as a commercial, corporate and securities lawyer in Washington, Milan, Rome and Frankfurt. David's publications focus on market structure, securities clearing and settlement, corporate law and comparative law. He holds a Ph.D. in Law and an LL.M. from the Goethe University, a Juris Doctor from Georgetown University and a Ph.D. in Comparative Literature from The State University of New York at Buffalo.

Introduction Emilios Avgouleas and David Donald; Part I. The Environmental Determinants and Real Impact of Financial Regulation: 1. Regulating finance – a legal theory of finance perspective Katharina Pistor; 2. Information, and the regulation of inefficient markets David C. Donald; 3. The information gap between institutional and retail investors during the IPO process Shuonan Chen; 4. Finance, intangibles and the privatization of knowledge Ugo Pagano; Part II. The Political Economic Analysis of Regulatory Choices: 5. Bank lobbying: regulatory capture and beyond Thomas Lambert and Deniz Igan; 6. Sociological and psychological perspectives on financial regulators Giuliano G. Castellano and Geneviève Helleringer; 7. The bank fees regime in Israel – a political economy perspective Ruth Plato-Shinar; 8. Choosing among authorities for consumer financial protection in Taiwan: a legal theory of finance perspective Chang-hsien Tsai; 9. Regulation and incentives in Indian microfinance Nikhilesh Sinha; Part III. The Political Economy of Global Financial Regulation: Cooperation, Discord and Conflict: 10. The incomplete global financial order and the spillovers from currency market instability Emilios Avgouleas; 11. Coordination failures between the EU and US in commodities derivatives regulation Jakob Engel; 12. The political economy of cross-border banking regulation in emerging Europe Ivaylo Iaydjiev; 13. Preferential treatment of government debt in European financial law Ad van Riet; Part IV. Financial Regulation and State Capitalism: a Political Economic Perspective: 14. Rethinking state control over the PRC financial system: the black box of proactive intervention Li Guo and Daile Xia; 15. The political economy of China's shadow banking Shen Wei; 16. The A-share bailout and the role of China's securities watchdog in regulating a policy-driven market Sheng Jin.