International Financial Cooperation and the Number of Adherents: The Basel Committee and Capital Regulation

John Pattison ()

Open Economies Review, 2006, vol. 17, issue 4, 443-458

Abstract: Theoretical analyses of international cooperation point to cooperation being optimized with a small number of participants. History is consistent with this view. However an anomaly is the international capital standards created by the Basel Committee on Banking Supervision (BCBS). Basel I has over 100 adherents, and approximately that number of countries have been identified in a survey as candidates for Basel II. The author demonstrates that this is not an anomaly. First, Basel I was a product of a duopoly and then an oligopoly prior to approval by the BCBS. Secondly, self-interest and other factors explain why more than 100 countries have agreed to accept these standards. Copyright Springer Science + Business Media, LLC 2006

Keywords: banking supervision; bank for international settlements; capital (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/s11079-006-0358-6

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