The internationalization of European financial networks: a quantitative text analysis of EU consultation responses

Scott James, Stefano Pagliari and Kevin L. Young

Review of International Political Economy, 2021, vol. 28, issue 4, 898-925

Abstract: Regulatory initiatives are frequently shaped by the ability of the financial industry to build alliances across the wider business community. Yet comparative and international political economy scholarship remains divided over how to explain the resulting networks of financial lobbying. Using quantitative text analysis of 1300 responses to EU financial regulatory consultations between 2010 and 2018, we map patterns of lobbying coordination based on cosigning and text re-use in consultation responses for the first time. This unique dataset is used to analyze hitherto hidden patterns of domestic and cross-border coordination by financial organizations within and between European countries. We find that while distinctive national lobbying networks persist at the country level, the internationalization of financial actors is statistically associated with the formation of coordination ties with foreign financial actors. This suggests that European financial integration has facilitated the emergence of new cross-border alliances which complement – rather than substitute for – existing domestic financial interest coalitions. We argue that the text-as-data approach employed here makes an important new contribution to scholarship on business power and the political economy of Europe.

Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/09692290.2020.1779781 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rripxx:v:28:y:2021:i:4:p:898-925

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rrip20

DOI: 10.1080/09692290.2020.1779781

Access Statistics for this article

Review of International Political Economy is currently edited by Gregory Chin, Juliet Johnson, Daniel Mügge, Kevin Gallagher, Ilene Grabel and Cornelia Woll

More articles in Review of International Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().