The Political Economy of the Eurozone

Cambridge University Press, 10/12/2017
EAN 9781107124011, ISBN10: 1107124018

Hardcover, 350 pages, 22.9 x 15.2 x 3.2 cm
Language: English

The Eurozone is not a mere currency area. It is also a unique polity whose actors span multiple levels (supranational, national, regional, sectoral) and pursue overlapping economic and political objectives. Current thinking on the Eurozone relies on received categories that struggle to capture these constitutive features. This book addresses this analytical deficit by proposing a new approach to the political economy of the Eurozone, which captures economic and political interdependencies across different levels of decision making and sheds light on largely unexplored problems. The book explores the opportunities afforded by the structure of the Eurozone, and lays the foundations of a political economy that poses new questions and requires new answers. It provides categories that are firmly grounded in the existing configuration of the Eurozone, but are a precondition for overcoming the status quo in analysis and policy.

1. The Eurozone as a political economy field Ivano Cardinale, D'Maris Coffman and Roberto Scazzieri
Part I. Comparative Historical and Institutional Perspectives
2. Fiscal states and sovereign debt markets
a new paradigm for apprehending historical structural change D'Maris Coffman
3. From sovereign nations to federal states. Creating stable systems of public finance in America and Germany
lessons for the Eurozone James Macdonald
4. An historical perspective on the European crisis
the Latin Monetary Union Luca Einaudi
5. Conditionality, fiscal rules and international financial control in the European periphery before 1914 Ali Coşkun Tunçer
6. Snakes and ladders
navigating European monetary union Duncan Needham
Part II. Multi-Level Interdependencies
7. Liquidity architectures and production arrangements
a conceptual scheme Roberto Scazzieri
8. Political economy and the constitution of Europe's polity
pathways for the common currency beyond neo-functional and ordo-liberal models Adrian Pabst
9. Sectoral interests and 'systemic interest'
towards a structural political economy of the Eurozone Ivano Cardinale
Part III. Political Economy of Structural Governance
10. The German growth model, transnationalization and European imbalances Finn Marten Körner and Hans-Michael Trautwein
11. Exploring sectoral conflicts of interests in the Eurozone
a structural political economy approach Ivano Cardinale and Michael Landesmann
12. The impact of economic crisis on Eurozone manufacturing Marco Fortis
13. Fiscal systems and fiscal union
historical variety and policy challenges D'Maris Coffman and Ali Kabiri
14. China's investment in the Eurozone
a policy view Yuning Gao
15. Eurobonds for EMU stability and structural growth Alberto Quadrio Curzio
16. How false beliefs about exchange rate regimes threaten global growth and the existence of the Eurozone William White
Part IV. Framing the Eurozone
17. Framing the Eurozone
heuristics for analysis and policy Ivano Cardinale, D'Maris Coffman and Roberto Scazzieri.