What makes deterrence credible?

Andromachi Georgosouli

Chapter 13 in Research Handbook on Law and Ethics in Banking and Finance, 2019, pp 302-316 from Edward Elgar Publishing

Abstract: According to current orthodoxy, deterrence is credible when it is visible and visibility calls for enforcement action that is harsh enough to be taken seriously by the industry. In this chapter, it is argued that the focus on enforcement is misplaced because, when it comes to the question of credibility, at best it tells half the story. The credibility of deterrence is contingent to a multitude of factors. This chapter considers three of them all of which are closely inter-related: The regulator’s capacity to attain a congruence of minds and a congruence of hearts with the regulatees, and the regulator’s ability to harness its profile as a credible enforcer.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781784716530/9781784716530.00024.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

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:elg:eechap:16471_13

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().