This paper examines the relevance of knowledge and ignorance in the governance of global finance. First, it will show that the intense innovation dynamics of financial busi-ness are creating regulatory problems that are not only of a normative and monetary na-ture, but also of a cognitive one. Taking the field of banking as an example, a growing uncertainty regarding the outcome of financial decisions becomes discernable, which not only results from the globalization and increasing knowledge intensity of transactions but also from the market actors' tendency to engage in a more active treatment of ignorance. Next, attention will be drawn to concepts of knowledge politics and corresponding regu-latory strategies which have the potential to transcend not only national boundaries but also to enable collective learning between heterogeneous actors. On the basis of this, the emergence of a cognitive approach in the governance of global banking will be illus-trated. Finally, attention will be shifted to the revised capital adequacy framework for global banking, commonly known as Basle II, and an analysis of the extent to which conditions for an effective combination of private and public expertise are being created
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