Stakeholding in service industries: Public action to change institutional behaviour?

Political Quarterly

Volumn 68, Issue 4, 1997, Pages 406-411

  Kenway, Peter ^a   Palmer, Guy ^a  

^a NONE

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EID: 0031531802     PISSN: 00323179     EISSN: None     Source Type: Journal    
DOI: 10.1111/1467-923X.00108     Document Type: Article

References (9)

1. Will Hutton, The State We're In, London, Vintage, 1995, pp. 218-19.
2. For more details see Michael Ball, Peter Kenway and Guy Palmer, Housing Risks and Opportunities: Reforming Mortgage Finance, London, New Policy Institute, 1996.
3. While it is true that much lower interest rates mean that the ratio of loan repayment to income when borrowing commences is at a thirty-year low, low inflation will have more than wiped out that advantage in less than ten years.
4. Building societies are attempting to respond to this overcapacity by diversifying into other branches of the personal financial services industry. Conversion to the status of shareholding company has been prompted in large part by the need to escape the regulations that restrict them as mutuals from competing in this way. But personal banking and other areas are no less overcrowded than the mortgage business - witness the recent offers by some leading supermarket chains of personal banking facilities - so diversification can hardly be a solution to the mortgage lenders' problems.
5. Joseph E. Stiglitz, The Economic Role of the State, Oxford, Blackwell, 1989, pp. 38-9.
6. See e.g. John Kay, 'The Future of UK Utility Regulation', in M. E. Beesley, ed., Regulating Utilities: A Time for Change?, London, Institute of Economic Affairs, 1996.
7. For example, the British Labour MP Frank Field has applied it as an adjective to a particular plan for reform of the welfare system.
8. David Marquand and Tony Wright, 'The Pimpernel of British Politics', The Political Quarterly, 1996, p. 182.
9. In both the social market and East Asian modes, this interest is in fact protected by a vigorous government attention to markets.