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Knowledge, power and monetary bargaining: central bankers and the creation of monetary union in Europe
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The role of central bankers as an epistemic community in the process of European monetary co-operation has been discussed in this article, arguing that it is necessary first to find the right balance between structure and agency and second to specify alternatives to the observed outcomes.Abstract:
This article specifies and explains the role of central bankers as an epistemic community in the process of European monetary co-operation. The article argues that it is necessary first to find the right balance between structure and agency and second to specify alternatives to the observed outcomes. While structure is arguably a strong shaping force for outcomes in monetary bargaining, it is ultimately indeterminate in predicting change. Contrasting the Maastricht process with potential alternative outcomes, I argue that the content of the Maastricht Treaty on European monetary union can be explained largely by underlying structural factors. On the other hand, the process of institutional change itself raises the issue of agency. Within this process of institutional change, the epistemic community of central bankers played a special role to facilitate the Maastricht accord.read more
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Ruling Europe: The Politics of the Stability and Growth Pact
TL;DR: Juncke as mentioned in this paper discusses the past, present and future of the Stability and Growth Pact and its implications for European integration theory, including the role of experts and ideas in good and bad times.
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Global Political Economy: Understanding the International Economic Order. By Robert Gilpin with the assistance of Jean M. Gilpin. (Princeton, NJ: Princeton University Press, 2001. Pp. 423. $65.00 cloth, $19.95 paper.)
TL;DR: In this article, the authors present a survey of middle-range theories specific to various regions and historical circumstances, including rational choice, post-modern deconstructionism, structural realism, and constructivism.
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Central bankers in the contemporary global field of power: a ‘social space’ approach
TL;DR: In the context of the financialization of the global economy, and the importance of financial elites (see Savage and Williams in this volume) the role of central banks has become particularly important.
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Two-track diffusion and central bank embeddedness: the politics of Euro adoption in Hungary and the Czech Republic
TL;DR: The authors used central banking to make two arguments in relation to this debate: domestic actors may support EU-style institutional convergence in the same issue-area for different reasons; while external incentives may primarily motivate one group, another may fully accept and internalize the underlying EU norms.
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Introduction: epistemic communities and international policy coordination
TL;DR: In this article, a variety of analytic approaches have been used to address the problems of international cooperation, but the approaches have yielded only fragmentary insights, focusing on the technical aspects of a specific problem, how do they define state interests and develop viable solutions? What factors shape their behavior? Under conditions of uncertainty, what are the origins of international institutions? And how can we best study the processes through which international policy coordination and order emerge?
Book
The Choice for Europe: Social Purpose and State Power from Messina to Maastricht
TL;DR: The choice for Europe as mentioned in this paper is the choice of Europe and the choice for the future of the European Union, the Treaties of Rome, 1955-1958 and the Maastricht Treaty, 1988-1991.
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Invested interests: the politics of national economic policies in a world of global finance
TL;DR: In this article, the authors examine the effects of capital mobility on different groups in national societies and on the politics of economic policymaking and show that increased capital mobility tends to favor owners of capital over other groups.
BookDOI
Bringing transnational relations back in : non-state actors, domestic structures and international institutions
TL;DR: In this paper, Risse-Kappen and Krasner discuss the role of transnational relations in the development of European economic and monetary union and the transformation process in Eastern Europe.