State Regulation of the Banking Sector in the Era of Globalization: Divergence or Convergence?

Over the last two decades, an ongoing debate about the issues of governance and the role of the nation-state has been taking place that was largely (but not exclusively) triggered by the simultaneous processes of globalization and European integration. The changing role of the nation-state has been particularly debated in political science. Here it has been widely accepted that today, the role of the state has become quite different from that classically put forward by political theory, which had defined the state as characterized by external independence and sovereignty within (Hintze, 1970).