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Understanding Regulatory Capture: An Academic Perspective from the United States
| Content Provider | Semantic Scholar |
|---|---|
| Author | Baxter, Lawrence G. |
| Copyright Year | 2012 |
| Abstract | Although it sometimes seems that financial regulatory agencies have been entirely captured by the larger players in the industry they regulate, a closer examination reveals that a variety of factors contribute to policy outcomes in this arena. Agencies have different agendas and stakeholders, and banks often perform quasi-governmental roles that blur the line between the captors and the captured. The real danger is that public policy can be distorted as a result of excessive influence by one set of interests at the expense of others. This danger is best thwarted or at least mitigated through the application of a range of institutions and processes, ranging from external checks on agency action to a strengthening of institutions designed to represent interests that the regulated industry itself is unlikely to promote. Internal checks that might provide incentives for more public-oriented actions on the part of industry participants are also relevant. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://scholarship.law.duke.edu/cgi/viewcontent.cgi?article=5262&context=faculty_scholarship |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
