Saving the Market from Itself
The Politics of Financial Intervention

This book examines how different interbank relationships produced more generous bank bailouts in Germany than in the US or UK.

Christopher Mitchell (Author)

9781107159235, Cambridge University Press

Hardback, published 1 December 2016

258 pages
23.5 x 15.8 x 1.8 cm, 0.51 kg

The 2007–9 financial crisis threatened economic disaster on a scale not seen since the Great Depression, but rapid state action prevented the widely feared devastation. The German response was considerably more generous to banks than the American or British bailouts. Drawing on interviews and primary sources in government, private firms, and media, Mitchell explains how the structure of national financial systems and interbank relationships produced extensive private rescues and pressure on different states. Mitchell explores the different responses and results in Germany, the UK and the US using a combination of detailed case study analyses of the three countries' responses to the crisis and a quantitative analysis of patterns of state responses to financial crises. This book will be essential reading for scholars and advanced students of political economy, comparative politics, economic sociology, economics, and public policy.

1. Introduction
2. A theory of responses to financial crises
3. Germany and the 2007–9 crisis
4. The United Kingdom and the 2007–9 crisis
5. The United States
6. Conclusion
References
Appendix
Index.

Subject Areas: Political economy [KCP], Comparative politics [JPB], Politics & government [JP]