Political science research on the reasons for the (non) adoption and (non) implementation of EMU reform proposals: the state of the art

  • There have been numerous attempts to reform the Economic and Monetary Union (EMU) after the Great Recession, however the reform success varies greatly among sub-fields. Additionally, the political science research community has engaged a diverse set of theory- driven explanations, causal mechanisms, and variables to explain respective reform success. This article takes stock of reform policies in the EMU from two angles. First, it outlines distinct theoretical approaches that seek to explain success and failure of reform proposals and second, it surveys how they explain policy output and policy outcome in four policy subfields: financial stabilization, economic governance, financial solidarity, and cooperative dissolution. Finally, the article develops a set of explanatory factors from the existing literature that will be used for a Qualitative Comparative Analysis (QCA).

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Author:Vincent LindnerGND, Sandra EckertORCiDGND, Andreas NölkeORCiDGND
Parent Title (English):SAFE working paper ; No. 339
Series (Serial Number):SAFE working paper (339)
Place of publication:Frankfurt am Main
Document Type:Working Paper
Year of Completion:2022
Year of first Publication:2022
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2022/02/02
Tag:Economic and Monetary Union; European Banking Union; European Capital Markets Union; European integration; economic governance; fiscal solidarity; neoinstitutionalism; policy reform; political economy
Issue:January 2022
Page Number:36
We gratefully acknowledge financial support from the Leibniz Institute for Financial Research SAFE.
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / House of Finance (HoF)
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE)
Dewey Decimal Classification:3 Sozialwissenschaften / 32 Politikwissenschaft / 320 Politikwissenschaft
3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Licence (German):License LogoDeutsches Urheberrecht