Public-Private Co-Regulation in the making of the capital markets union

Giuseppe Montalbano

Journal of Economic Policy Reform, 2023, vol. 26, issue 2, 199-215

Abstract: This contribution investigates the conditions and dynamics of a public-private regulatory partnership in the making of the Capital Markets Union. According to our argument, structural interdependence and the strategic use of market narratives in a low salient policy domain allowed the EU financial industry to frame their interests as a solution to Europe’s missing recovery. Under the pressures of the Eurozone crisis and the EMU constraints, the goals of critical financial industry sectors and EU policy-makers met together, leading to a renewed regulatory cooperation. Such a mechanism is unveiled through a process-tracing case-study analysis on the EU covered bonds framework.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:taf:jpolrf:v:26:y:2023:i:2:p:199-215

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DOI: 10.1080/17487870.2022.2076677

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