Centre for Development Economics
and
Department of Economics, Delhi School of Economics

ANNOUNCE A SEMINAR

Is Financial Nationalism on the Rise? A discussion on the
logic of cooperation in international finance

by

Dr Federico Lupo-Pasini 
Lecturer, International Business and Finance Law
School of Law
Queen’s University, Belfast

On

24th August, 2017 (Thursday) at 3:00 PM

Venue : Seminar Room (First Floor)
Department of Economics, Delhi School of Economics

All are cordially invited
Abstract

Since the creation of the Basel Committee on Banking Supervision in 1975, regulatory and supervisory cooperation in finance has become the norm for OECD countries, and it is increasingly pursued by most emerging economies. Yet, the recent political developments following Brexit, and the general surge of populism around the world seem to indicate an uncertain future for international economic cooperation, including financial regulation. Understanding why financial nationalism is so appealing and which risks it poses for the global financial system is therefore necessary.

In this afternoon seminar, Dr Lupo-Pasini will discuss the rationale and the problems of international cooperation in finance and introduce his forthcoming book “The Logic of Financial Nationalism (Cambridge University Press, 2017). Despite the post-crisis reforms, the global financial system suffers from an inherent asymmetry whereby markets are global but policies are still largely national. International legal institutions play a major role in this regard as they still focus more on the protection of national interests rather than the promotion of global objectives. The author defines this broad attitude as the “logic of financial nationalism’. Using an interdisciplinary law and political economy approach, Dr Lupo-Pasini will discuss some of the current and possible solutions to the problems of nationalism, such as the European Banking Union, Regulatory Passports, and different forms of institutional cooperation.

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