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Bureaucratic agencies as third-party enforcers
Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
(English)Manuscript (preprint) (Other academic)
Abstract [en]

In institutional economic theory, the court is most commonly recognized, or even identified, as THE third-party enforcer. The court is however only one of several types of third-party enforcers of the state apparatus. Bureaucratic agencies are for example normally assigned a ‘bundle’ of regulations and policies to enforce and implement. Financial supervisory agencies, health inspections and environmental protection agencies are examples of such. Accounting for bureaucratic agencies as third party enforcers in conventional institutional economics theory poses some problems. However, by incorporating bureaucratic agencies as third-party enforcers into the theoretical framework, institutional economics as a field may become better able to account for the very important processes by which institutions are implemented and enforced. As actors of the institutional structure, bureaucratic agencies can be defined as types of ‘institutional organizations’.

Keyword [en]
Institutional economics; third-party enforcers; bureaucratic agencies
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:liu:diva-77435OAI: oai:DiVA.org:liu-77435DiVA: diva2:526937
Available from: 2012-05-15 Created: 2012-05-15 Last updated: 2012-05-15Bibliographically approved
In thesis
1. Theoretical and empirical accounts of Swedish financial supervision in the twentieth century
Open this publication in new window or tab >>Theoretical and empirical accounts of Swedish financial supervision in the twentieth century
2012 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

The thesis is concerned with the history of financial supervision in Sweden during the twentieth century up to the financial crisis in the early 1990s. To this end a theoretical framework is developed which is based on institutional economics, law and economics, theories on bureaucracies, regulatory enforcement and policy analysis. Except for the attempt to propose how financial supervision and supervisors could be understood theoretically, the thesis address problems ranging from the organization of supervision in relation to regulation and the changes of the regulated market, the constraints and abilities put on supervisors in different institutional arrangements and regulatory regimes, and the competence of supervisors. The extensive use of empirical data aims to make the thesis a contribution also to financial history research in general, and the growing research on the histories of financial supervision in particular.

Place, publisher, year, edition, pages
Linköping: Linköping University Electronic Press, 2012. 106 p.
Series
Linköping Studies in Arts and Science, ISSN 0282-9800 ; 555
Keyword
Financial supervision, institutional economics, adaptive enforcement, financial history, Sweden
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-77439 (URN)978-91-7519-865-1 (ISBN)
Public defence
2012-06-07, C3, Hus C, Campus Valla, Linköpings universitet, Linköping, 10:15 (English)
Opponent
Supervisors
Available from: 2012-05-15 Created: 2012-05-15 Last updated: 2012-05-15Bibliographically approved

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Wendschlag, Mikael

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