Institutional and Political Aspects of Financial Stability Policies: the Case of Europe

2016 Fiscal Year Final Research Report

• Project/Area Number: 25780123
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: International relations
• Research Institution: Kansai University
• Principal Investigator: Konoe Sara 関西大学, 経済学部, 准教授 (90611921)
• Project Period (FY): 2013-04-01 – 2017-03-31
• Keywords: 国際政治経済学 / 金融規制 / ユーロ危機 / 政治学 / 金融監督 / 欧州統合 / EU

Outline of Final Research Achievements

My research analyzed how uncoordinated macroeconomic policies and financial supervision within Europe impacted financial stability in that region and discussed the extent to which the global financial crisis and euro crisis led to improvement of European coordination in financial stability policies. In particular, my research focused on variegated integration patterns in financial and currencies policies in Europe. My research findings include that in the 1980s and 90s before the recent crises, a type of integration of creating new institutions at the regional level to correct market failures was delayed compared to a type of integration of removing national barriers to create more trade and investment, thus resulting in negative impact on financial stability. Moreover, this project examined post-crisis reforms, which intended to address such problems, and discussed the extent to which newly-created institutions could be effectively utilized to enhance financial stability.

Free Research Field

国際政治経済学