Managing risks, preventing crises: A political economy account of Basel III financial regulations
Bibliographic record
Abstract
In the aftermath of global financial crisis, the Basel Committee on Banking Supervision quickly issued a new set of global standards. However, it remains puzzling cui bono Basel III has been shaped. Who are the key stakeholders in the regulatory process and to which extent have their geopolitical loci - based on political preferences, geopolitical strategic interests and geographical positions - influenced the final shape of Basel III? This research sheds light on these questions using a tri-level (domestic, inter-state, global arena), multi-actor approach that captures the complexity of financial regulations. Looking in depth at the net stable funding ratio, capital requirements, French-German ring-fencing lockin devices, and contingent convertible bonds I show that regulatory change is the product of a constellation of interests of at least two actors, whose loci are not necessarily homogenous.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.006 | 0.010 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.001 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.002 | 0.009 |
| Scholarly communication | 0.010 | 0.005 |
| Open science | 0.001 | 0.003 |
| Research integrity | 0.005 | 0.005 |
| Insufficient payload (model declined to judge) | 0.006 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".