Myths and Realities of the Banking Lobby

Cornelia Woll ()
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Cornelia Woll: CEE - Centre d'études européennes et de politique comparée (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique

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Abstract: The financial industry is commonly described as one of the most influential in politics. The numbers certainly support this impression. In terms of lobbying expenditures in the United States, the banking sector outspent even the health care sector. Few industries have comparable resources available and have been able to establish such a strong institutional presence. In many countries, top bankers and high-ranking public officials meet frequently; revolving doors between the two worlds are common; and the technical complexity of financial regulation makes consultation with the industry at all levels of decision-making a necessity. Accordingly, commentators in the media and academia warn about conflicts of interest and undue influence. [First paragraph]

Keywords: Banking lobby; Financial industry; Banking sector (search for similar items in EconPapers)
Date: 2014-07
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Published in World Politics Review, 2014, pp.1 - 5

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Persistent link: https://EconPapers.repec.org/RePEc:hal:spmain:hal-02186428

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