Voices in the City
Project funded by the UK Economic and Social Research Council (Grant Ref: ES/K001019/1) 1 October 2012 – 30 September 2014
Principal Investigator: Dr Scott James
‘Voices in the City: Policy Networks and Regulatory Reform in the City of London’
The City of London constitutes a fluid and dynamic network of organisations bound together by a commonality of interests aimed at sustaining London as the world’s leading international financial centre. In the wake of the global financial crisis, the ‘City’ faces a new and rapidly changing regulatory environment at the national, European and international levels. Exploring how the City responds to this challenge by engaging in different policy making arenas and seeking to shape the evolving regulatory reform agenda will be of great importance to researchers and practitioners alike.
Over the next two years the study aims to:
- Map the complex inter-organisational networks that form across the City around salient policy issues
- Explore how the City engages with public and private actors in the policy process in multiple arenas
- Analyse the commonality and diversity of interests and regulatory preferences across the City
- Assess the impact of the financial crisis on the City’s capacity to shape the future regulatory reform agenda
It does so by undertaking a comparative analysis of two recent regulatory reforms which have impacted upon different parts of the City: the Capital Requirements Directive IV (CRD IV); and the European Markets Infrastructure Regulation (EMIR). The research seeks to map and explain the formation and development of the multi-level networks that exist around these regulatory issues for the purpose of ensuring that the City’s voice is represented in the policy process.
The study will use a mixed methodology approach employing both formal and informal Network Analysis. This will involve conducting survey questionnaires and in-depth interviews with a range of policy makers, industry regulators, trade representatives and members of leading City firms. It also seeks to engage a wide international audience, encourage the sharing of different perspectives, and facilitate lively discussion and debate about the future of the City of London. This is to be achieved through an ambitious programme of interdisciplinary networking and collaboration, international conference presentations and publications, high-profile practitioner workshops, as well as policy briefings and media commentary.
The two-year project will form the basis for future international collaboration with researchers in New York and Hong Kong which will explore the role of international financial centres in shaping regulatory reform agendas around the world.
‘Crisis, Reform and the Future of the City of London’ Workshop, April 2013
The Voices in the City project was officially launched at King’s College London on 23 April 2013. You can find more information and photos from the event here.