TY - JOUR
T1 - EMU's diverging micro foundations
T2 - A study of governments' preferences and the sustainability of EMU
AU - Sadeh, Tal
N1 - Funding Information:
The author acknowledges helpful comments from the editors as well as other contributors to this special issue. The author also acknowledges the excellent research assistance provided by Idit Kra-Oz, and the support of the Leonard Davis Institute for International Relations at the Hebrew University of Jerusalem.
PY - 2009/6
Y1 - 2009/6
N2 - The political economic literature on EMU suggests that its sustainability depends on the consolidation of the member states into a political community, based on shared beliefs in neo-liberal values, as well as the development of strong EU institutions and a well-integrated and liberalized common market. Have national governments in the EU become less favourable to policies that accordingly contribute to the sustainability of EMU? A dataset including 15 pre-2004 member states during 1990-2006 shows that, while the member states of the euro zone have in recent years converged in support of macroeconomic policies that are important for a sustainable EMU, they have also become more divergent about imperative microeconomic policies, and their scepticism with regard to the authority of EU institutions has become more consensual. This may challenge the sustainability of EMU. This study is innovative in its original government orientation analysis and large dataset.
AB - The political economic literature on EMU suggests that its sustainability depends on the consolidation of the member states into a political community, based on shared beliefs in neo-liberal values, as well as the development of strong EU institutions and a well-integrated and liberalized common market. Have national governments in the EU become less favourable to policies that accordingly contribute to the sustainability of EMU? A dataset including 15 pre-2004 member states during 1990-2006 shows that, while the member states of the euro zone have in recent years converged in support of macroeconomic policies that are important for a sustainable EMU, they have also become more divergent about imperative microeconomic policies, and their scepticism with regard to the authority of EU institutions has become more consensual. This may challenge the sustainability of EMU. This study is innovative in its original government orientation analysis and large dataset.
KW - EMU
KW - EU
KW - Governments
KW - Partisanship
KW - Sustainability
UR - http://www.scopus.com/inward/record.url?scp=70449589469&partnerID=8YFLogxK
U2 - 10.1080/13501760902872593
DO - 10.1080/13501760902872593
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AN - SCOPUS:70449589469
SN - 1350-1763
VL - 16
SP - 545
EP - 563
JO - Journal of European Public Policy
JF - Journal of European Public Policy
IS - 4
ER -