The Politics of Capitalist Diversity in Europe
Explaining Ireland’s Divergent Recovery from the Euro Crisis
Bibliographic Data
| ID | 7955971 |
|---|---|
| Authors | Samuel Brazy (0000-0002-4482-4234), Aidan Regan (0000-0001-7558-730X) |
| Year | 2017 |
| Volume | 15 |
| Issue | 2 |
| Pages | 411-427 |
| Publication date | 2017-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Perspectives on Politics (JOURNAL) |
| Journal identifiers | ISSN: 1537-5927 • E-ISSN: 1541-0986 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s1537592717000093 |
| OpenAlex | W2623125223 |
| Language | EN |
| Citations received | 39 |
| References cited | 59 |
The 2008 financial crisis hit few places harder than the Euro periphery. Faced with high levels of public debt, Portugal, Italy, Ireland, Greece, and Spain were each compelled to implement harsh austerity reforms. Yet despite this common policy response, the recoveries have shown significant divergence. In particular, Ireland seems to have managed to succeed economically in a way that the other peripheral countries have not. The prevailing narrative is that Ireland’s recovery from the crisis is due to “austerity” and improved “cost competitiveness.” Drawing upon theories from the study of comparative capitalism we challenge this narrative, and argue that the Irish recovery is an outcome of a state-led enterprise policy aimed at nurturing a close relationship with corporate firms from Silicon Valley. Using qualitative and quantitative investigation we find evidence that this state-led FDI growth model, rather than austerity induced competitiveness, kick-started Ireland’s recovery from crisis. As Ireland is a critical case for the “success” story of austerity in Europe, our findings represent a significant challenge to the politics of adjustment. It suggests the strategies of business-state elites, and not simply the workings of electoral coalitions, explains the politics of adjustment in advanced capitalism
Austerity · Capitalism · Debt · Debt crisis · Divergence (linguistics · Diversity (politics · Economics · Economy · Financial crisis · Irish · Keynesian economics · Narrative · Political economy · Political science · Politics · State (computer science · Finance · Housing, Finance, and Neoliberalism · Political and Economic history of UK and US · Social Policy and Reform Studies
Small States in Global Markets
The Distribution of Income and Wealth in Ireland
Hungary – A Hungarian Crisis or Just a Crisis in Hungary?
Conclusion
Ireland – Limited Restructuration in the Poster Child of Austerity
European Party Politics in Times of Crisis
Spain – Out with the Old
Industrial policy and comparative political economy
Portugal – A Tale of Apparent Stability and Surreptitious Transformation
Crises and the Transformation of the National Political Space in Europe
Shifting paths? The evolution of Southern European growth trajectories in the post-Eurozone crisis decade (2010–9)
Financial adjustment as a driver of growth model change
Celtic Phoenix or Leprechaun Economics? The Politics of an FDI-led Growth Model in Europe
Introduction
External enablers of Eurozone austerity
Growing differently? Financial cycles, austerity, and competitiveness in growth models since the Global Financial Crisis
The role of wages in the Eurozone
Foundering on fallacies
Competing for capitals
Financial resource curse in the Eurozone periphery
Taking back control
Toward a discursive approach to growth models
Ireland’s Multinationals-Dominated Economy in the Pandemic
The distortions of the Irish ‘recovery’
Export or Perish
When Is It Rational to Learn the Wrong Lessons? Technocratic Authority, Social Learning, and Euro Fragility
Economic nationalists, regional investment aid, and the stability of FDI-led growth in East Central Europe
Business Against Markets
Dependent development at a crossroads? Romanian capitalism and its contradictions
New approaches to political economy
Power, ideas, and national preferences
Jobs and fiction
Brexit and the ties that bind
The state strikes back
The discursive construction of digitalization
The mystery of Dublin
Are Irish voters moving to the left
Varieties of top incomes
How do countries shift their export specialization? The role of technological capabilities and industrial policy in Ireland, Spain and Sweden (1995-2018)
The Future of the Euro
Bilateral donors' aid allocation decisions—a three-dimensional panel analysis
Growth in a Time of Debt
The structure and evolution of industrial clusters
Structural power and political science in the post-crisis era
The Politics of Public Debt
Austerity
The Oxford Handbook of Historical Institutionalism
Austerity
Governments, Markets, and Growth
Small States in World Markets
Service Expansion, International Exposure, and Political Preferences
Resilient Liberalism in Europe's Political Economy
Varieties of Capitalism
An Introduction to Varieties of Capitalism
Mass Politics in Tough Times
Capitalist Diversity on Europe's Periphery
Capitalism, Institutions, and Power in the Study of Business
The Politics of Advanced Capitalism
The Strange Non-Death of Neoliberalism
How the Euro divides the union
The imbalance of capitalisms in the Eurozone
The political economy of failure
The Crises of Democratic Capitalism
The Bocconi boys go to Brussels
Varieties of Capitalism and the Euro Crisis
Electoral Epidemic
Economic causes of the Eurozone crisis
How party linkages shape austerity politics
The electoral consequences of the financial and economic crisis in Europe
How (and Why) Is This Time Different? The Politics of Economic Crisis in Western Europe and the United States
Democracy in crisis? The declining support for national democracy in E uropean countries, 2007–2011
Democratic Limits to Redistribution
After KKV
The Political Economy of Unmediated Democracy
Rising Inequality and the Politics of Redistribution in Affluent Countries
After the “Master Theory
The Economic and Electoral Consequences of Austerity Policies in Britain
Why Greece Failed
European Monetary Integration and the Incompatibility of National Varieties of Capitalism
The EMU Debt Crisis
From ‘Tiger’ to ‘Piigs
Occupations as a Site of Political Preference Formation
The Revolutionary Power of Peripheral Agencies
Creative Corporatism
The Political Power of Economic Ideas
Growth Models, Varieties of Capitalism, and Macroeconomics
Rethinking Comparative Political Economy
| Unique citing works | 39 |
|---|---|
| Citations per year | 4,33 |
| Citation span | 2017 - 2026 (10) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 39 |