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"International constraints and domestic choices: economic convergence and exchange rate policy in France and Italy"

Walsh, James I. (1993) "International constraints and domestic choices: economic convergence and exchange rate policy in France and Italy". In: UNSPECIFIED, Washington, DC. (Unpublished)

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    Abstract

    This paper examines the French and Italian experiences with exchange rate stability and macroeconomic convergence within the European Monetary System since 1979. While France and Italy present roughly similar economic profiles and have been exposed to the same international economic developments, they have experienced differing levels of exchange rate stability and macroeconomic convergence. I consider three theoretical explanations for this difference. The first looks to changes in the international economy to explain differing policy patterns. The second explanation focuses on the dynamics of domestic politics and interests. I conclude that neither of these approaches adequately explains different patterns of French and Italian economic policy within the EC. Instead, I argue that the third approach, which focuses on the nature of policymaking institutions and the instruments accessable to policymakers, best explains the countries' different outcomes.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Subjects for non-EU documents: Countries > Italy
    EU policies and themes > Policies & related activities > economic and financial affairs > economic policy
    Countries > France
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Union Studies Association (EUSA) > Biennial Conference > 1993 (3rd), May 27-29, 1993
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 27 May 2007
    Page Range: p. 35
    Last Modified: 15 Feb 2011 17:46
    URI: http://aei.pitt.edu/id/eprint/7125

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