Marcussen, Martin. (1999) “The Power of EMU-Ideas: Reforming Central Banks in Great Britain, France, and Sweden”. In: UNSPECIFIED, Pittsburgh, PA. (Unpublished)
| PDF Download (2932Kb) | Preview |
Abstract
This paper attempts to explain central bank reform in Great Britain, France, and Sweden with a reference to “the power of ideas.” It is argued that European macro-economic elites feel that they belong to an international macro-economic community and that they share a common belief system based on the “sound policy” concept. The international macro-economic community provides them with a sense of belonging which they will aspire to maintain through “appropriate” policy discourse and action. If there is a perceived misfit between the ideas on which the European macro-economic organizational field is built and a particular set of domestic structures, macro-economic elites will, as a result of this search for continued international legitimacy, aspire to undertake domestic reforms where and when it was not otherwise expected. However, national macro-economic elites also have a legitimacy game to play at the national level. Through their domestic policy discourse they will have to construct a fit between the domestic institutional context and a set of EMU ideas. The timing of domestic reforms based on EMU ideas, therefore, depends on whether the domestic institutional context is facilitating or constraining such an undertaking.
Export/Citation: | EndNote | BibTeX | Dublin Core | ASCII (Chicago style) | HTML Citation | OpenURL |
Social Networking: |
Item Type: | Conference or Workshop Item (UNSPECIFIED) |
---|---|
Uncontrolled Keywords: | National central banks. |
Subjects for non-EU documents: | Countries > U.K. Countries > France EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro Countries > Sweden |
Subjects for EU documents: | UNSPECIFIED |
EU Series and Periodicals: | UNSPECIFIED |
EU Annual Reports: | UNSPECIFIED |
Conference: | European Union Studies Association (EUSA) > Biennial Conference > 1999 (6th), June 2-5, 1999 |
Depositing User: | Phil Wilkin |
Official EU Document: | No |
Language: | English |
Date Deposited: | 07 Nov 2006 |
Page Range: | p. 49 |
Last Modified: | 15 Feb 2011 17:22 |
URI: | http://aei.pitt.edu/id/eprint/2327 |
Actions (login required)
View Item |