Policy Convergence in Banking: A Comparative Study

Abstract

The relationship between global economic integration and policy convergence in banking is examined in five countries: Canada, France, Germany, the United Kingdom and the United States. Focusing upon policy styles and modes of policy-making, considerable convergence in membership of policy communities and some convergence in the organization of state agencies is found. When it comes to policy networks, there is more limited convergence on a corporatist mode of policy-making in banking. Policy style may not be as responsive to international economic changes as policy goals, policy content, and policy instruments.