The political economy of the euro area's sovereign debt crisis: introduction to the special issue of the Review of International Political Economy

TY - JOUR

T1 - The political economy of the euro area's sovereign debt crisis

T2 - introduction to the special issue of the Review of International Political Economy

AU - Howarth, David

AU - Quaglia, Lucia

PY - 2015/1/1

Y1 - 2015/1/1

N2 - ABSTRACT: This special issue has two main aims: to examine the contribution of political economy analyses of the sovereign debt crisis and to relate these findings to longstanding debates in the sub-disciplines of comparative political economy, international political economy and European economic governance. This introduction begins by reviewing the comparative political economy literature on national financial systems in order to account for the playing out of the crisis. It then examines the international political economy literature on the International Monetary Fund (IMF) and financial (sovereign debt) markets that played such a key role in the unfolding of the sovereign debt crisis. Finally, it outlines longstanding academic debates on the main 'asymmetries’; in European economic governance, and provides a critical overview of the three main policy and institutional reforms adopted by European Union governments in response to the crisis.

AB - ABSTRACT: This special issue has two main aims: to examine the contribution of political economy analyses of the sovereign debt crisis and to relate these findings to longstanding debates in the sub-disciplines of comparative political economy, international political economy and European economic governance. This introduction begins by reviewing the comparative political economy literature on national financial systems in order to account for the playing out of the crisis. It then examines the international political economy literature on the International Monetary Fund (IMF) and financial (sovereign debt) markets that played such a key role in the unfolding of the sovereign debt crisis. Finally, it outlines longstanding academic debates on the main 'asymmetries’; in European economic governance, and provides a critical overview of the three main policy and institutional reforms adopted by European Union governments in response to the crisis.

KW - Banking Union

KW - Economic and Monetary Union (EMU)

KW - fiscal policy

KW - sovereign debt crisis

UR - http://www.scopus.com/inward/record.url?scp=84933181823&partnerID=8YFLogxK

U2 - 10.1080/09692290.2015.1024707

DO - 10.1080/09692290.2015.1024707

M3 - Article

AN - SCOPUS:84933181823

SN - 0969-2290

VL - 22

SP - 457

EP - 484

JO - REVIEW OF INTERNATIONAL POLITICAL ECONOMY

JF - REVIEW OF INTERNATIONAL POLITICAL ECONOMY

IS - 3

ER -