The ideational shaping of state power and capacity: winning battles but losing the war over bank reform in the US and UK

Bell, Stephen and Hindmoor, Andrew (2014) The ideational shaping of state power and capacity: winning battles but losing the war over bank reform in the US and UK. Government and Opposition, 49 3: 342-368. doi:10.1017/gov.2014.2


Author Bell, Stephen
Hindmoor, Andrew
Title The ideational shaping of state power and capacity: winning battles but losing the war over bank reform in the US and UK
Journal name Government and Opposition   Check publisher's open access policy
ISSN 1477-7053
0017-257X
Publication date 2014-07-01
Year available 2014
Sub-type Article (original research)
DOI 10.1017/gov.2014.2
Volume 49
Issue 3
Start page 342
End page 368
Total pages 27
Place of publication Cambridge, United Kingdom
Publisher Cambridge University Press
Language eng
Formatted abstract
This article extends a recent line of research arguing that the power and capacity of political actors (including states) is not just the product of particular fixed attributes but is also the outcome of political relations between key interlocutors, including ideational relations. State elites, especially government leaders, have persisted with a mindset that still values the economic centrality of a large and complex banking sector. This way of thinking has conditioned the relationship between, on the one hand, the US and UK governments and, on the other, Wall Street and the City of London and has led to a form of ‘dysfunctional embeddedness’. Government leaders may have been able to win high-profile policy victories over the banking sector in the post-crisis period, but in accepting a large, complex and constantly evolving financial system with high levels of systemic risk, they have unwittingly placed themselves at a continuing disadvantage in the regulatory arena.
Keyword Bank reform
United Kingdom
United States
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2015 Collection
School of Political Science and International Studies Publications
 
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