Regulatory Capture in Microfinance: The Irish Loan Fund Board, 1860-1914
- đ¤ Speaker: Dr Eoin McLaughlin (School of History, Classics and Archaeology, University of Edinburgh)
- đ Date & Time: Monday 16 May 2011, 17:00 - 19:00
- đ Venue: Lucia Windsor Room, Newnham College
Abstract
Weak regulation and regulatory inaction have been cited as significant factors in the recent financial crises in Britain, Ireland and the US. The existing empirical literature of regulatory capture has primarily focused on the regulators of utilities in the US; however, it has not analysed the effects and costs of the capture of financial regulators. This paper aims to address this lacuna by contributing an empirical study of a unique case of regulatory capture from late nineteenth century Ireland. This paper analyses the effects of an idiosyncratic shock to the Irish financial system in 1896 that only affected loan fund societies – local financial quasi-mutuals that lent to non-members. It utilises a new dataset on loan fund societies to analyse the effect of regulatory capture on unit-independent financial institutions.
Series This talk is part of the Financial History Seminar series.
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Monday 16 May 2011, 17:00-19:00