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Mañana: The societal origins of delayed fiscal adjustment

Barta, Zsófia (2015) Mañana: The societal origins of delayed fiscal adjustment. [Conference Proceedings] (Submitted)

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    Heavily indebted and in the throes of drastic austerity programmes, Italy and Ireland find themselves much in the same situation as a quarter of a century ago. In the second half of the 1980s and the early 1990s, the two countries carried out successful fiscal and economic stabilization programmes that elicited intense attention from scholars of economic adjustment. The recurrence of the two countries’ troubles provides an exceptional opportunity to put theories of economic adjustment to test. Comparative analyses of the earlier instances of stabilization concentrated on the similarities between the two cases and converged on emphasizing the importance of social pacts in allowing successful reform. In contrast, this paper shows that already a quarter century ago, the two countries followed very different trajectories to stabilization despite the institutional similarities of the solutions they adopted. It argues that fundamental differences in the two countries’ societal structure – more specifically, differences in the level of socio-­economic polarization – are crucial in understanding the differences in the two countries’ ability to renegotiate redistributive arrangements and thus to carry out successful adjustment then as now.

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    Item Type: Conference Proceedings
    Subjects for non-EU documents: Countries > Ireland
    Countries > Italy
    EU policies and themes > Policies & related activities > economic and financial affairs > fiscal policy
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Union Studies Association (EUSA) > Biennial Conference > 2015 (14th), March 4-7, 2015
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 May 2017 18:00
    Number of Pages: 35
    Last Modified: 23 May 2017 18:00

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