Policy Shock
Cambridge University Press, 6/30/2017
EAN 9781107140219, ISBN10: 1107140218
Hardcover, 548 pages, 23.5 x 16 x 3.7 cm
Language: English
Policy Shock examines how policy-makers in industrialized democracies respond to major crises. After the immediate challenges of disaster management, crises often reveal new evidence or frame new normative perspectives that drive reforms designed to prevent future events of a similar magnitude. Such responses vary widely - from cosmetically masking inaction, to creating stronger incentive systems, requiring greater transparency, reorganizing government institutions and tightening regulatory standards. This book situates post-crisis regulatory policy-making through a set of conceptual essays written by leading scholars from economics, psychology and political science, which probe the latest thinking about risk analysis, risk perceptions, focusing events and narrative politics. It then presents ten historically-rich case studies that engage with crisis events in three policy domains: offshore oil, nuclear power and finance. It considers how governments can prepare to learn from crisis events - by creating standing expert investigative agencies to identify crisis causes and frame policy recommendations.
1. Introduction Edward J. Balleisen, Lori S. Bennear, Kimberly D. Krawiec and Jonathan B. Wiener
Part I. The Conceptual Terrain of Crises and Risk Perceptions
2. Economic analysis, risk regulation and the dynamics of policy regret Lori S. Bennear
3. Revised risk assessments and the insurance industry Carolyn Kousky
4. Understanding public risk perception and responses to changes in perceived risk Elke U. Weber
5. Focusing events, risk and regulation Thomas A. Birkland and Megan K. Warnement
6. The story of risk
how narratives shape risk communication, perception and policy Frederick W. Mayer
Part II. Case Studies on Offshore Oil Spills
7. From Santa Barbara to the Exxon-Valdez
policy learning and the emergence of a new regime for managing oil spill risk Marc Allen Eisner
8. The Nordic model of offshore oil regulation
managing crises through a proactive regulator Ole Andreas Engen and Preben H. Lindøe
9. Reform in real time
evaluating reorganization as a response to the Gulf oil spill Christopher Carrigan
Part III. Case Studies on Nuclear Accidents
10. Recalibrating risks of nuclear power
reactions to Three-Mile Island, Chernobyl and Fukushima Elisabeth Paté-Cornell
11. Nuclear accidents and policy responses in Europe
comparing the cases of France and Germany Kristian Krieger, Ortwin Renn, M. Brooke Rogers and Ragnar Löfstedt
12. Public attitudes and institutional changes in Japan following nuclear accidents Atsuo Kishimoto
Part IV. Case Studies of Financial Crises
13. Regulatory responses to the financial crises of the Great Depression
Britain, France and the United States Youssef Cassis
14. Financial decommodification
risk and the politics of valuation in US banks Bruce G. Carruthers
15. Euro are risk (mis)management Barry Eichengreen
16. The regulatory responses to the global financial crisis
some uncomfortable questions Stijn Claessens and Laura Kodres
Part V. Conclusions
17. Institutional mechanisms for investigating the regulatory implications of a major crisis
the commission of inquiry and the safety board Edward J. Balleisen, Lori Bennear, David Cheang, Jonathon Free, Megan Hayes, Emily Pechar and A. Catherine Preston
18. Recalibrating risk
crises, learning and regulatory change Edward Balleisen, Lori Bennear, Kimberly Krawiec and Jonathan Wiener.