Abstract
| Original language | English |
|---|---|
| Journal | European Political Science Review |
| Volume | 9 |
| Issue number | 1 |
| Pages (from-to) | 139-160 |
| ISSN | 1755-7739 |
| DOIs | |
| Publication status | Published - 2017 |
Bibliographical note
Published online: 28. September 2015Keywords
- Institutional change
- Gradual transformation
- Bricolage
- Crisis
- Financial regulation
Cite this
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Institutional Bricolage in Times of Crisis. / Carstensen, Martin B.
In: European Political Science Review, Vol. 9, No. 1, 2017, p. 139-160.Research output: Contribution to journal › Journal article › Research › peer-review
TY - JOUR
T1 - Institutional Bricolage in Times of Crisis
AU - Carstensen, Martin B.
N1 - Published online: 28. September 2015
PY - 2017
Y1 - 2017
N2 - How may we understand the occurrence of gradual but significant change following economic crisis? Theories of gradual institutional transformation offer important insights to analyses of long-term institutional change, but have so far shied away from dealing with institutional change during and following crisis, leaving the issue to more traditional critical juncture models. Instead of seeing gradual institutional change originating only in the efforts of rule takers to circumvent existing institutions – potentially leading to gradual change over longer periods of time – the paper suggests that in more abrupt processes of change characteristic of economic crisis, rule makers may also reinterpret the meaning of rules and redeploy them under significantly altered circumstances leading to gradual change. The paper suggests that the concept of bricolage is useful for understanding how policymakers create new institutional setups through the re-ordering of existing institutional elements. The empirical relevance of these arguments is demonstrated with a study of post-crisis special bank insolvency policies in Denmark and the United States, showing how in both polities new institutions were created from existing institutional elements.
AB - How may we understand the occurrence of gradual but significant change following economic crisis? Theories of gradual institutional transformation offer important insights to analyses of long-term institutional change, but have so far shied away from dealing with institutional change during and following crisis, leaving the issue to more traditional critical juncture models. Instead of seeing gradual institutional change originating only in the efforts of rule takers to circumvent existing institutions – potentially leading to gradual change over longer periods of time – the paper suggests that in more abrupt processes of change characteristic of economic crisis, rule makers may also reinterpret the meaning of rules and redeploy them under significantly altered circumstances leading to gradual change. The paper suggests that the concept of bricolage is useful for understanding how policymakers create new institutional setups through the re-ordering of existing institutional elements. The empirical relevance of these arguments is demonstrated with a study of post-crisis special bank insolvency policies in Denmark and the United States, showing how in both polities new institutions were created from existing institutional elements.
KW - Institutional change
KW - Gradual transformation
KW - Bricolage
KW - Crisis
KW - Financial regulation
KW - Institutional change
KW - Gradual transformation
KW - Bricolage
KW - Crisis
KW - Financial regulation
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U2 - 10.1017/S1755773915000338
DO - 10.1017/S1755773915000338
M3 - Journal article
VL - 9
SP - 139
EP - 160
JO - European Political Science Review
JF - European Political Science Review
SN - 1755-7739
IS - 1
ER -