Fiscal Consolidation in the Euro Crisis: Politico-economic and Institutional Causes
In: Springer eBook Collection
11 Ergebnisse
Sortierung:
In: Springer eBook Collection
In: European journal of political research: official journal of the European Consortium for Political Research, Band 53, Heft 3, S. 423-442
ISSN: 0304-4130
World Affairs Online
In: European journal of political research: official journal of the European Consortium for Political Research, Band 53, Heft 3, S. 423-442
ISSN: 1475-6765
The Great Recession that started in 2007/2008 has been the worst economic downturn since the crisis of the 1930s in Europe. It led to a major sovereign debt crisis, which is arguably the biggest challenge for the European Union (EU) and its common currency. Not since the 1950s have advanced democracies experienced such a dramatic external imposition of austerity and structural reform policies through inter- or supranational organisations such as the EU and the International Monetary Fund (IMF) or as implicitly requested by international financial markets. Did this massive interference with the room for maneuver of parliaments and governments in many countries erode support for national democracy in the crisis since 2007? Did citizens realise that their national democratic institutions were no longer able to effectively decide on major economic and social policies, on economic and welfare state institutions? And did they react by concluding that this constrained democracy no longer merited further support? These are the questions guiding this article, which compares 26 EU countries in 2007-2011 and re-analyses 78 national surveys. Aggregate data from these surveys is analysed in a time-series cross-section design to examine changes in democratic support at the country level. The hypotheses also are tested at the individual level by estimating a series of cross-classified multilevel logistic regression models. Support for national democracy - operationalised as satisfaction with the way democracy works and as trust in parliament - declined dramatically during the crisis. This was caused both by international organisations and markets interfering with national democratic procedures and by the deteriorating situation of the national economy as perceived by individual citizens. Adapted from the source document.
In: West European politics, Band 39, Heft 4, S. 628-647
ISSN: 0140-2382
World Affairs Online
In: West European politics, Band 39, Heft 4, S. 628-647
ISSN: 1743-9655
In: Socio-economic review, Band 14, Heft 1, S. 1-26
ISSN: 1475-147X
In: Politische Vierteljahresschrift: PVS : German political science quarterly, Band 56, Heft 3, S. 506-531
ISSN: 0032-3470
World Affairs Online
In: Politische Vierteljahresschrift: PVS : German political science quarterly, Band 56, Heft 3, S. 506-531
ISSN: 1862-2860
In: Zeitschrift für Staats- und Europawissenschaften, Band 12, Heft 2-3, S. 242-271
In: Zeitschrift für Staats- und Europawissenschaften: ZSE ; der öffentliche Sektor im internationalen Vergleich = Journal for comparative government and european policy, Band 12, Heft 2/3, S. 242-271
ISSN: 1610-7780
In general, fiscal adjustments are associated with significant reductions in social spending. Hence, the welfare state is not spared from austerity. Because the welfare state is still central to party competition, this is electorally risky. The paper addresses the following questions: Do left parties differ from their centrist and rightist competitors in the design of austerity measures? And does government type has an impact on the extent to which austerity policies rely on social spending cuts? By comparing 17 OECD countries between 1982 and 2009 we show that if governments embark on a path to austerity, their ideology does not have a significant effect on the magnitude of welfare state retrenchment. However, if major opposition parties and interest groups rally against social spending cuts, a broad pro-reform coalition is a crucial precondition for large fiscal consolidation programs to rely on substantial cuts to social security.
BASE