Jump to ContentJump to Main Navigation
Banking Regulation and Globalization$
Users without a subscription are not able to see the full content.

Andreas Busch

Print publication date: 2008

Print ISBN-13: 9780199218813

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780199218813.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 03 December 2020

The Federal Republic of Germany: Keeping the State at Arm's Length

The Federal Republic of Germany: Keeping the State at Arm's Length

(p.75) 4 The Federal Republic of Germany: Keeping the State at Arm's Length
Banking Regulation and Globalization

Andreas Busch (Contributor Webpage)

Oxford University Press

Most academic studies have come to the conclusion that compared with other countries, German banking policy has not had to confront any major problems. This chapter presents a case study which shows that the German finance and banking sectors have experienced moments of crisis which threatened existing patterns of regulation. It begins by examining the historical background of banking regulation as a policy field. The specific challenges which policymakers in the Federal Republic have had to face in recent decades are then described. Next, the case study moves on to take a look at the relevant actors involved in the banking policy network before examining a key political moment, — the Herstatt Bank crisis. It argues that in Germany, a consultative, often informal, policy style and a high degree of both self-regulation and institutional continuity have contributed to a successful policy outcome with no major bank failures since the 1974 Herstatt Bank case. This success, however, had its own costs as the administrative system was not forced to enhance state capacity in this area and thus found it difficult to project its interests on the European and international levels which both grew in importance.

Keywords:   German banking industry, banking system, state regulation, banking regulation, Herstatt Bank

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .