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The 'old' and 'new' political economy of hedge funds regulation in the European Union

journal contribution
posted on 2023-06-08, 08:44 authored by Lucia Quaglia
This article assesses the ‘old’ and ‘new’ political economy of hedge fund regulation in the EU, explaining why the EU has decided to regulate hedge fund managers in the aftermath of the global financial crisis. A Franco-German alliance, with the support of Italy, other Mediterranean countries and some quarters of the European Parliament, has driven the EU's attempt to regulate hedge funds. The new EU rules are explained by institutionally-shaped economic interests rooted in national varieties of financial capitalism – the ‘old’ political economy of hedge fund regulation. However, ‘ideas’, in the form of competing regulatory paradigms, are instrumental in explaining why one coalition of actors has prevailed over the other in EU rule-making – the ‘new’ political economy of hedge fund regulation.

History

Publication status

  • Published

Journal

West European Politics

ISSN

0140-2382

Publisher

Taylor & Francis

Issue

4

Volume

34

Page range

665-682

Department affiliated with

  • Politics Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-02-06

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