构建金融法律与政策

Pub Date : 2021-07-07 DOI:10.1515/ael-2020-0126
Thomas Coendet
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引用次数: 0

摘要

2007-08年的全球金融危机为重新思考金融、金融监管和社会效益提供了一个明显的理由。尤其是经济专家,就如何修复金融体系发表了政策报告。这些政策建议是否以及如何转化为法律是本文的主题。它介绍了一套理论,详细阐述了法律制度如何在一般情况下利用社会理论,特别是经济专业知识,并主张将框架概念作为焦点。对英国股票市场的凯评论案例研究测试并说明了这一理论。该研究强调了从植根于经济理论和实证研究的具体政策提案到金融法的技术细节,一直出现的规范、技术、政治和捕获问题,并以对金融行为监管局当前在新消费者责任方面的改革努力的评论结束。最终,通过案例研究,我们可以反思现有社会理论与法律相互作用理论的优势和局限性,并为未来的研究提供一些方向。
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Framing the Law and Policy of Finance
Abstract The global financial crisis of 2007–08 provided an obvious reason for rethinking finance, its regulation, and benefits for society. Economics experts, in particular, issued policy reports on how to fix the financial system. Whether and how such policy recommendations translated into law is the topic of this article. It introduces a set of theories elaborating on how the legal system may tap social theory in general and economic expertise in particular, arguing for the concept of framing as a focal point. A case study on the Kay Review of UK equity markets tests and illustrates the theory. The study highlights the normative, technical, political, and capture issues that arise all the way down from a specific policy proposal rooted in economic theory and empirical research to the technical details of financial law and concludes with a comment on the current reform efforts of the Financial Conduct Authority on a new consumer duty. Eventually, the case study allows us to reflect on the strengths and limitations of the existing theories of how social theory and law interact and to provide some directions for future research.
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