Amharc foirne: Delegating Regulation: European Union and Financial Markets

Delegating Regulation: European Union and Financial Markets

This paper analyzes the design of financial regulatory structure in the European Union. We develop a two-pronged approach to track changes in decision-making authority in EU financial market regulations and directives enacted from 1964 to the present. Traditional observational data collection method...

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Príomhchruthaitheoirí:	O’Halloran, Sharyn, Chen, Karen, Biswas, Rudra M Guha, Kim, Hoon, Liu, Pu, Zhang, YouFei, Zhou, YunPeng
Formáid:	Article ou chapitre numérique
Teanga:	Français
Foilsithe / Cruthaithe:	2018
Rochtain ar líne:	Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM

id	cairn-RINDU1_184_0091
record_format	cairn
spelling	cairn-RINDU1_184_0091RINDU1Annales des Mines - Réalités industrielles https://stm.cairn.info/revue-realites-industrielles-2018-4-page-91?lang=en https://doi.org/10.3917/rindu1.184.0091 Delegating Regulation: European Union and Financial Markets O’Halloran, SharynChen, KarenBiswas, Rudra M GuhaKim, HoonLiu, PuZhang, YouFeiZhou, YunPeng2018 fre Annales des Mines - Réalités industrielles \| ovembre 2018 \| 4 \| 2018-10-22 \| p. 91-111 \| 1148-7941 RINDU1_18488 This paper analyzes the design of financial regulatory structure in the European Union. We develop a two-pronged approach to track changes in decision-making authority in EU financial market regulations and directives enacted from 1964 to the present. Traditional observational data collection methods manually code laws to identify the amount of discretionary authority delegated to regulatory bodies that oversee segments of financial markets. The lack of robustness and scalability of this approach, however, may limit the generalizability of observational studies. To remedy these potential shortcomings, we match observational methods with data science techniques, in particular natural language processing, to visualize complex patterns in the text of laws and temporal movements. The combination of both observational and computational approaches provides more detailed insights of the various elements of financial regulatory structure and the temporal allocation of decision-making authority among the European Commission, regulatory agencies and the Members States. Our analysis indicates that both the scope and location of decision-making authority shifted over time, moving from Member States to EU regulatory agencies. The amount of discretionary authority delegated to EU agencies to implement regulations, on the other hand, has remained largely unchanged.Issue editors: Françoise Roure and Serge CatoireCairn free access
language	Français
format	Article ou chapitre numérique
building	0/Bibliothèque numérique/ 1/Bibliothèque numérique/Cairn/
description	This paper analyzes the design of financial regulatory structure in the European Union. We develop a two-pronged approach to track changes in decision-making authority in EU financial market regulations and directives enacted from 1964 to the present. Traditional observational data collection methods manually code laws to identify the amount of discretionary authority delegated to regulatory bodies that oversee segments of financial markets. The lack of robustness and scalability of this approach, however, may limit the generalizability of observational studies. To remedy these potential shortcomings, we match observational methods with data science techniques, in particular natural language processing, to visualize complex patterns in the text of laws and temporal movements. The combination of both observational and computational approaches provides more detailed insights of the various elements of financial regulatory structure and the temporal allocation of decision-making authority among the European Commission, regulatory agencies and the Members States. Our analysis indicates that both the scope and location of decision-making authority shifted over time, moving from Member States to EU regulatory agencies. The amount of discretionary authority delegated to EU agencies to implement regulations, on the other hand, has remained largely unchanged.Issue editors: Françoise Roure and Serge Catoire
author	O’Halloran, Sharyn Chen, Karen Biswas, Rudra M Guha Kim, Hoon Liu, Pu Zhang, YouFei Zhou, YunPeng
spellingShingle	O’Halloran, Sharyn Chen, Karen Biswas, Rudra M Guha Kim, Hoon Liu, Pu Zhang, YouFei Zhou, YunPeng Delegating Regulation: European Union and Financial Markets
author_facet	O’Halloran, Sharyn Chen, Karen Biswas, Rudra M Guha Kim, Hoon Liu, Pu Zhang, YouFei Zhou, YunPeng
author_sort	O’Halloran, Sharyn
title	Delegating Regulation: European Union and Financial Markets
title_short	Delegating Regulation: European Union and Financial Markets
title_full	Delegating Regulation: European Union and Financial Markets
title_fullStr	Delegating Regulation: European Union and Financial Markets
title_full_unstemmed	Delegating Regulation: European Union and Financial Markets
title_sort	delegating regulation: european union and financial markets
publishDate	2018
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url	https://ezproxy.univ-orleans.fr/login?url=https://stm.cairn.info/revue-realites-industrielles-2018-4-page-91?lang=en https://ezproxy.univ-orleans.fr/login?url=https://doi.org/10.3917/rindu1.184.0091
_version_	1877246679756832768

Delegating Regulation: European Union and Financial Markets

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