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Has the financial crisis spurred demand for stronger state regulation? CEPS Working Document No. 336/September 2010

Roth, Felix. (2010) Has the financial crisis spurred demand for stronger state regulation? CEPS Working Document No. 336/September 2010. [Working Paper]

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    Abstract

    This paper analyses whether the financial crisis has affected citizens’ confidence in the free market economy and whether it has triggered citizens’ demand for a free market economy with stronger state regulations. Using panel data, the paper confirms that citizens’ confidence levels in the free market economy have decreased in most of the largest economies and demand for a free market economy with stronger state regulation has increased on both sides of the Atlantic. After analysing the determinants for citizens’ confidence in the free market economy and demand for a free market economy with stronger state regulation before and after the financial crisis, the author concludes that citizens’ net confidence loss in the free market economy seems to have been driven by rising unemployment rates, and citizens’ demand for stronger state regulation seems to have been driven by the real economic downturn in GDP growth.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > regulations/regulatory policies
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Working Documents
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 05 Oct 2010
    Page Range: p. 18
    Last Modified: 15 Feb 2011 18:37
    URI: http://aei.pitt.edu/id/eprint/15037

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