Remaking Crisis: A Longitudinal Study of Ideas in EU Financial Sector Regulation

Thursday, April 14, 2016
Minuet (DoubleTree by Hilton Philadelphia Center City)
Rolf Thuneberg Jørgensen , Political Science, Copenhagen University
This paper aims to provide an overview of the changing ideational landscape of post-crisis EU. It maps out how the reform agenda for banking regulation was framed and reframed from 2009-14, to create an longitudinal view of how economic ideas and evolving interpretations of the crisis fed into the policy process.
By tracking the application of economic ideas in the legislative process over a sustained period of time, it tackles the question of how to study ideational changes when these are not instantaneous but evolutionary. Thereby contributing to the immerging dialog on how to systematically approach ideational research. It applies semantic network analysis, an emerging method from communication and framing research, as a proposal of how to study ideas on a longitudinal scale in political economy. Mapping out how actors (re)contextualizes the crisis and regulatory policies, by associating and disassociating them from other policy issues, problems, solutions and actors.
As the foremost pan-European deliberative body, the paper uses the European Parliament as a conduit for European policy discourse. It tracks changes in how banking regulation is being framed and justified across 5000 EP-statements, sorting patterns by automated content analysis. Among its findings, the paper demonstrates how the debate on banking have been gradually disassociated with the 2008 crisis and policy goals of market stability, and re-contextualized in neoliberal terms of market efficiency and economic performance. The paper ends with an discussion of policy implications and further uses of the method.
Paper
  • Remaking Crisis_ A Longitudinal Study of Ideas in EU Financial Sector Regulation Rolf Jørgensen.pdf (490.6 kB)