A Europe of creditor and debtor states
Explaining the north/south divide in the Eurozone
Bibliographic Data
| ID | 8041576 |
|---|---|
| Authors | Sofía Pérez (0000-0002-3294-9662, Boston University, corresponding author) |
| Year | 2019 |
| Volume | 42 |
| Issue | 5 |
| Pages | 989-1014 |
| Publication date | 2019-04-29 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | West European Politics (JOURNAL) |
| Journal identifiers | ISSN: 0140-2382 • E-ISSN: 1743-9655 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/01402382.2019.1573403 |
| OpenAlex | W2942911270 |
| Language | EN |
| Citations received | 18 |
| References cited | 46 |
The divide in the Eurozone between a small set of core economies with strong international financial positions (North) and a set of debtor states that show periodic vulnerability in international financial markets (South) remains a core feature of the area. Our understanding of that schism, however, remains incomplete. Comparative political economists have emphasised differences in labour market institutions – in particular wage setting – to explain the split. This article takes issue with that view, suggesting that the case for a wage-driven explanation of creditor and debtor states’ positions in the Eurozone remains weak. Instead, it emphasises the role of capital flows and the uneven impact these had on domestic demand across Eurozone states both before and after 2008. This macro-economically centred explanation – in which financial, rather than labour market, dynamics play the central role – has important implications for our evaluation of Eurozone reforms
Capital (architecture · Creditor · Debt · Debtor · Economics · European debt crisis · European integration · European union · Geography · International economics · Macroeconomics · Market economy · Wage · Economic Theory and Policy · Global Financial Crisis and Policies · Social Policy and Reform Studies
Health, federalism and the European Union
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Solidarity on a divided continent
Introduction
Failing outward
Competitiveness Revisited
Unions, Central Banks, and EMU
The Political Economy of Monetary Solidarity
Austerity
The Paradox of Liberalization — Understanding Dualism and the Recovery of the G erman Political Economy
The Forgotten Problem of Democratic Legitimacy
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| Unique citing works | 18 |
|---|---|
| Citations per year | 2,57 |
| Citation span | 2019 - 2026 (8) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 18 |