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The Governance of Macroprudential Policy: How to Build Regulatory Legitimacy Through a Social Justice Approach by Tracy C Maguze at Abbey's Bookshop,
The Governance of Macroprudential Policy: How to Build Regulatory Legitimacy Through a Social Justice...
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Tracy C Maguze

The Governance of Macroprudential Policy

How to Build Regulatory Legitimacy Through a Social Justice Approach

Tracy C Maguze

$170

Hardback

Not in-store but you can order this
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English
Hart Publishing
11 January 2024
Financial services law & regulation
Series: Hart Studies in Commercial and Financial Law
This book critically examines the theoretical foundations and legal framework for macroprudential policy, its tools and governance in the UK, the US, and the EU. It goes deeper into a normative discussion of the legitimacy of macroprudential policy in these jurisdictions, where the mandate for maintaining financial stability has been delegated to independent authorities.

The Global Financial Crisis of 2007-2008 reopened debates regarding legitimacy of the independent regulatory state, given its democratic deficit. The response to a perceived legitimacy gap has been to increase political oversight in financial policymaking and regulation. The book posits that the real problem is not a lack of democracy, but rather a lack of social justice. Across the globe, there is growing dissatisfaction with a financial system and regulatory process that appear depersonalised and perpetuate inequalities. Citizens are calling for more socially just systems of governance and the future success of financial policymakers and regulators will hinge on this. Given the marked distributional effects that have been noted in some macroprudential policy tools, the book questions whether macroprudential policy should be solely based on highly rationalised and strongly quantitative reasons.

By proposing that macroprudential policymakers should have a social justice mandate alongside their financial stability mandate, as well as legal mechanisms for operationalising the added authority, the book contributes to the growing discourse on the role of social justice in public policy.
By:  
Imprint:   Hart Publishing
Country of Publication:   United Kingdom
Dimensions:   Height: 234mm,  Width: 156mm, 
ISBN:   9781509968398
ISBN 10:   1509968393
Series:   Hart Studies in Commercial and Financial Law
Pages:   272
Publication Date:  
Audience:   Professional and scholarly ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active

Tracy C Maguze is a researcher in home financing at the Pew Charitable Trusts, USA, and has a PhD in Law from the Universidade Católica Portuguesa, Portugal, where she conducted research and wrote this book.

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