Basel and the IASB: Legitimacy Interdependencies and Consequences for Prudential Regulation

Courtesy of Jan Riepe Legitimacy is a key concern for international standard setters. If transnational actors set standards instead of national democratic authorities, the standard setters might suffer from ‘apparent’ legitimacy deficits. The consequences of an ‘apparent’ legitimacy deficit are low levels of public support for institutions, policies and authorities. Consequently, most international standard setters […]