Universität zu Köln

Trampusch, Christine ORCID: 0000-0003-1024-2065 (2014). Why preferences and institutions change: A systematic process analysis of credit rating in Germany. European Journal of Political Research, 53 (2). 328 - 345. HOBOKEN: WILEY. ISSN 1475-6765

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Abstract

This article argues that a within-case analysis of the causes and patterns of the institutionalisation of rating in the German financial system offers fresh insights into change in the major socioeconomic institutions of advanced capitalism. Using the method of systematic process analysis, the article explores the expansion of credit rating in the German banking system from three perspectives: historical (power), sociological (diffusion) and behavioural institutionalism (prospect theory). It demonstrates that the proliferation of credit rating resulted from a change of preference on the part of large banks. With Germany as a least likely case for successfully implementing rating, the study's main lesson is that institutional analysis may benefit from incorporating behavioural institutionalism into the analysis of preference change because this cites economic motivations as causes of preference shifts and institutional changes.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Trampusch, Christine UNSPECIFIED orcid.org/0000-0003-1024-2065 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-439706
DOI:	10.1111/1475-6765.12034
Journal or Publication Title:	European Journal of Political Research
Volume:	53
Number:	2
Page Range:	328 - 345
Date:	2014
Publisher:	WILEY
Place of Publication:	HOBOKEN
ISSN:	1475-6765
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Faculty of Management, Economics and Social Sciences > Social Sciences > Political Science > Cologne Center for Comparative Politics
Subjects:	Social sciences Political science Public administration
Uncontrolled Keywords:	Keywords Language PROSPECT-THEORY; HISTORICAL INSTITUTIONALISM; POLITICAL-SCIENCE; RATIONALITY Multiple languages Political Science Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/43970