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Title: International bank regulation in the pre-Basel era : the maintenance of the global financial system through inter-state collaboration and informal cooperation
Author: Rudd, J. L.
ISNI:       0000 0004 5364 6294
Awarding Body: UCL (University College London)
Current Institution: University College London (University of London)
Date of Award: 2015
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This thesis examines the methods used to govern the global financial system in the pre-Basel era and in doing so challenges the common perception that the regulation of international banking began in 1974 when the Basel Committee on Banking Supervision was established and banks first became subject to internationally agreed standards. Whilst it may be true to say that it is only in recent years that banks have been placed under formal control at a global level, this does not mean that the regulation of international banking has not been characterised by some other form of governance throughout history. The birth of the Basel Committee was triggered by concerns relating to the ongoing stability of the international financial system that were raised as a result of the globalisation of the banking industry in the post-war era and the systemic risks posed by this interconnected economic environment. However, the international character of the banking industry and the resulting connection between national economies is not a recent phenomenon, and issues pertaining to the stability of the global economy as a result of this have echoed throughout history. Accordingly, it is argued that while the work of the Basel Committee represents the contemporary method of governing these issues of global economic instability, what this thesis addresses is the historical method of governing them, namely, inter-state collaboration at financial conferences and the informal cooperative practices of the market participants themselves. What this analysis shows is that by adopting a definition of regulation that revolves around the methods of governance used to maintain stability in the global economy as a result of the international nature of the banking industry, it becomes clear that the regulation of international banking did not begin when the Basel Committee was established, but rather it has a history that spans the past two centuries.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available