1,721,025 research outputs found
The state comeback? Prospects and limits of market interventionism in a global economy
No full textThe commentary reflects on the trajectory of the debate on state intervention in the economy from the end of the Second World War to the era of globalisation. The commentary then moves on to examine the alleged return of the state in managing the economy, as attested by the debate on industrial policy and the policies need to govern the green transition. In doing so, the commentary raises two questions: What are the «relevant» state interventions? Can these interventions steer markets in the direction that states want and that benefits society as a whole
EUP890412 Supplemental Material1 - Supplemental material for Does politics drive conflict in central banks’ committees? Lifting the veil on the European Central Bank consensus
No full textSupplemental material, EUP890412 Supplemental Material1 for Does politics drive conflict in central banks’ committees? Lifting the veil on the European Central Bank consensus by Manuela Moschella and Nicola M Diodati in European Union Politics</p
Unexpected Revolutionaries. How Central Banks Made and Unmade Economic Orthodoxy
No full textCentral banks are typically regarded as conservative, politically neutral institutions that uphold conventional macroeconomic wisdom. Yet in the wake of the 2008 global financial crisis and the 2020 Covid-19 crisis, central banks have upended observer expectations by implementing largely unknown and unconventional monetary policies. Far from abiding by well-established policy playbooks, central banks now engage in practices such as providing liquidity support for a wide range of financial institutions and quantitative easing, and have even stretched the remit of monetary policy into issues such as inequality and climate change.
Moschella argues that the political nature of central banks lies at the heart of these transformations. While formally independent, central banks need political support to justify their policies and powers, and to obtain it, they carefully manage their reputation among their audienceselected officials, market actors, citizens. Challenged by reputational threats brought about by twenty-first century recessionary and deflationary forces, central banks such as the Federal Reserve System and the European Central Bank strategically deviated from orthodox monetary policies to preempt or manage political backlash and to regain public trust. Central banks so evolved into a new role only in coordination with fiscal authorities and on the back of public contestation.
Eye-opening and insightful, Unexpected Revolutionaries is necessary reading for discussions on the future of the neoliberal macroeconomic regime, the democratic oversight of monetary policymaking, and the role that central banks can—or cannot—play in our domestic economies
EUP890412 Supplemental Material2 - Supplemental material for Does politics drive conflict in central banks’ committees? Lifting the veil on the European Central Bank consensus
No full textSupplemental material, EUP890412 Supplemental Material2 for Does politics drive conflict in central banks’ committees? Lifting the veil on the European Central Bank consensus by Manuela Moschella and Nicola M Diodati in European Union Politics</p
IMF Anchoring: Fostering Stabilization and Good Governance
No full textThe chapter focuses on the role of the IMF in helping the transition of planned economies to the market economy. Specifically, it investigates the potential anchoring effects that IMF assistance had in fostering democratization processes in two of the countries of the former Soviet Union (FSU), which can be considered as hybrid democracies: Georgia and Moldova. Building on the literature on the role of external factors in domestic democratization processes, the objective of this paper is that of identifying the activities carried out by an international actor such as the IMF that may serve as an anchor to democratic processes. Specifically, the Chapter suggests that the IMF help create an environment conducive to democratic developments, thereby offering an anchor to democracy, by promoting economic growth and by improving domestic institutional capacity, including via the fight against corruption and poverty
Central banks under stress: Reputation, accountability and regulatory coherence
Full text linkThis symposium homes in on an area of public administration that has been through a period of significant change in the last ten years. Since the Global Financial Crisis, central banks have expanded their operations in financial markets, buying up vast quantities of assets as part of expansive monetary policy strategies. They have also played a leading role in the reform of financial regulations and been entrusted with enhanced authority to supervise financial institutions. This activity has taken place amid heightened political contestation, with central banks increasingly viewed as the quintessence of a technocratic mode of governance that eschews traditional democratic control. The purpose of this symposium is to consider how central banks have changed since the financial crisis, why they have changed in the ways that they have, and what those changes can tell us about the balance of power between independent regulatory agencies and elected politicians
European Political Economy. Theoretical Approaches and Policy Issues
No full textDescription
Delivers a research-informed, yet reader friendly textbook on European Political Economy
Establishes 4 key theoretical and methodological approaches, giving students the conceptual tools needed to examine the dynamic interactions between politics and economics in Europe.
Covers substantive issues in European Political Economy, including monetary and financial integration, welfare and labour, trade and development, migration, health and inequality, globalisation, and the environment.
Supports students' learning with 'key debate' boxes and case studies, helping students to apply theories and methods to real life issue
The EU, the IMF, and the representative turn: Addressing the challenge of legitimacy
No full textOver time, international organizations have adopted different strategies to redress their legitimacy deficits. Among them, two strategies stand out: expanding participation of relevant stakeholders and improving output. By analyzing the application of these strategies in the European Union (EU) and in the International Monetary Fund (IMF), we argue that these efforts at legitimization have not been satisfying because they have been implemented as supplements, rather than complements, of representation. Interestingly, then, the most recent efforts at legitimizing the two international bodies have started emphasizing the issue of representation. We illustrate our argument by reviewing and comparing the legitimacy-enhancing strategies that have been adopted in the EU and the IMF. © 2012 Swiss Political Science Association
Il sistema economico fra declino e riforme
No full textDa molti anni, ormai, quando si parla di Italia e della sua economia la parola d’ordine è quella di ‘declino’. L’Italia è, cioè, spesso rappresentata come un Paese dalle profonde debolezze economiche e dalla cronica incapacità di affrontarle. L’obiettivo di questo capitolo è capire da dove deriva questa narrazione ‘declinista’, al fine di individuare i principali problemi economici con i quali si è confrontato il sistema politico italiano negli ultimi due decenni, tracciarne le cause e valutarne le conseguenze. In particolare, il capitolo si focalizza sui problemi riguardanti la produttività, il welfare e le finanze pubbliche
Le organizzazioni internazionali: struttura, funzioni, impatto
No full textPerché uno stato sovrano accetta di delegare parte dei propri poteri a organizzazioni internazionali che non sono sottoposte a controllo democratico, assegnando loro significativi compiti e funzioni? Quali conseguenze hanno le decisioni delle organizzazioni internazionali per i singoli stati? Il libro analizza le principali organizzazioni internazionali che si occupano di pace e sicurezza, di economia e finanza, e di questioni umanitarie e sociali secondo tre prospettive: quella che le considera come meri strumenti nelle mani degli stati membri, quella che le interpreta come arene che facilitano le decisioni collettive, e quella che ne individua un ruolo di attore relativamente autonomo dagli stati
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